Our property department will submit an Offer on behalf of a potential purchaser. Once this Offer is accepted in principle the file will be passed to our conveyancing department. The various conditions in the Offer and Acceptance will be negotiated and an unconditional agreement reached. The Offer and Acceptance and further contractual letters are what form the missives. When everything has been agreed these are referred to as concluded missives which means there is a binding contract.
We always go through the missives in detail with the purchaser at the beginning of the process.
Once the missives have been concluded the selling solicitors will send us the Title Deeds. The Title Deeds will be examined to confirm the precise extent of the sale property. We will also ensure that there are no restrictions on the use of the property which could impact on a purchaser’s use.
Once we are happy with the title we will prepare the necessary deeds transferring the property to the purchaser. In the event of the purchaser taking a secured loan to purchase the property we will liaise with the lender and draw up all necessary deeds for signing.
Just before the date of entry (the day keys are released to the purchaser) we will arrange for funds to be drawn down from the lender. We also receive updated searches at this point to confirm that the seller is still in a position to transfer good title. The purchase funds will then be transferred in return from the keys to the subjects and a deed of transfer. All the purchaser requires to do on the date of entry is pick up the keys.
Once our property department has secured a purchaser and a formal Offer the conveyancing department will take over and will push to tie up the contract as quickly as possible. At this stage everything is geared to secure concluded missives and a binding contract from which neither party can walk away.
We will then obtain the Title Deeds and pass these to the purchaser’s agents for their examination.
We will carry out all normal searches. We will also require a redemption statement from any lender to confirm what is outstanding to the bank or building society. Just prior to the date of settlement we will order up fresh searches and ensure that all necessary deeds have been signed. On the date of entry we shall forward keys to the purchaser’s agents in exchange for the sale price. After settlement we shall pay off any existing secured loan with the balance being sent to the seller.Contact us for a quote