5 Steps to Selling Your House

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Selling your house is one of biggest transactions you'll ever make, so it is vital that you get it right.

Before actively marketing your property you will need to have available (or at the least applied for) a Home Information Pack (HIP). This can be arranged through your solicitors, estate agents or even direct with a HIP provider.

Once you have found a buyer and have accepted an offer on your property, here's what happens next.

1. Preliminary Matters

Once you have instructed a solicitor to act on your behalf, you will need to provide proof of your identity to comply with Governmental and Law Society guidelines.

Your solicitor will also ask you to complete standardised documentation that will form part of the contract package to be delivered to the Buyer's solicitors which are called the Property Information Form and Fittings and Contents Form (an additional form called Leasehold Information Form may also be needed if the property you are selling is held on a leasehold tenure).

If you have a mortgage on your property you need to provide the solicitor with your mortgage account number. This will enable them to obtain the Title Deeds from your lender.

2. Before Exchange of Contracts

If your property is registered then a copy of the Title for your home will be ordered electronically through HM Land Registry. If your Title is unregistered then it will be up to your solicitor to present a Title to the Buyer's legal advisor based on the historically documentation within the Title Deeds.

The solicitors representing you in the sale transaction will then provide a contract package to the Buyer's solicitors. This comprises of a draft contract, copies of the Title to your property and the Property Information Form and Fittings and Contents Form referred to above.

Once a contract package has been issued to the Buyer's solicitors it is normal for them to raise a number of enquiries concerning the Title for the property as well as its historical and present physical state. Your own solicitor will deal with these enquiries on your behalf (as many of them may be technical and difficult to understand!) however, there may be some questions where your input is required.

You will need to make sure that the information you provide in any documentation is accurate and that the responses to any questions asked by the Buyer or your own solicitor are true.

Your Buyer is likely to instruct their solicitor to carry out searches through the Local, Drainage, Environmental and the Chancel Check authorities. This is to ensure that there are no hidden surprises within the said authorities records that would prevent the Buyer's from proceeding with the transaction.

Once the Buyer has received a Survey report and their solicitor is in receipt of search results, replies to enquiries and offer of mortgage (if applicable) then they are in a position to effect exchange of contracts.

3. Exchange of Contracts

When the form of the sale contract has been agreed between solicitors, your legal advisor will ask you to sign your copy of the contract. Just because you have signed your contract, it doesn't mean you have sold your house - the agreement is only binding once the contracts have been exchanged.

Immediately prior to exchange the completion date is agreed with all parties in the chain. There is no set period between exchange and completion. Completion can even be arranged a year in advance if appropriate! It may also be possible to agree a simultaneous exchange and completion date. However, this date depends upon the availability of all parties in the chain to physically move out of their existing house and into their new home.

Once exchange of contracts has been effected you are in a legally binding contract to sell your property.

4. Preparing for Completion

You'll need to arrange a removal firm to empty your house, and inform the relevant utility and other companies that you are moving.

Your solicitor will arrange for your mortgage to be paid off and settle your estate agents commission account (if applicable). In addition you will be asked to sign one final document by your solicitor called the Transfer Deed. This document will be utilised by the Buyer's solicitors to register their clients interest in the property at HM Land Registry following completion. Rest assured your solicitor will not release this document without first having received the full balance of the sale proceeds.

5. Completion Day

The sale will be completed once the purchase funds have been received from the Buyer's solicitors. Everything from the house must be removed, except for any fixtures and fittings that you have agreed to sell to the buyer or will be including in the sale price.

You will need to leave the keys to the property with your estate agent, unless you have agreed differently with the buyer. Once this has been done you have successfully sold your house.

Selling your home can be made much easier when you know what is going to happen next. Now you know what to expect of you, you can continue to look for your dream home.

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