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As selling a house is probably one of the most important transactions you will ever make, obviously, it is important things to go well.
Once you have received a satisfactory offer call the BBH team and we will do all we can to make the sale run smoothly.
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Offer Received |
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Now you have received an offer for your house, what should you do next?
Your estate agent will confirm full details of the offer including the name of your buyer and their solicitor. If selling privately you should let us have the buyer's details as soon as you can and if you need any advice on preliminary negotiations just give us a call. Which ever method of selling you choose, call the BBH team as soon as you decide to put your property on the market so we can start to get your deeds and contract papers ready to help avoid delays later on. At this time we will also send you a questionnaire asking for information about the property. It will help to speed things up if you complete and return this to the BBH team as quickly as you can - to make it easy for you to decide what is included and what is not.
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Contracts |
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The BBH legal team will prepare contract papers and send them back to the buyer's solicitor. They may come back with quite detailed queries but this is normal as they obviously want as much information as possible before approving the contract. Thanks to your questionnaire, in most case, we will be able to answer their queries without the need to contact you. When satisfied they will return one copy of the contract for you to sign.
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Contents |
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It is common place when selling a house to include some of the contents in the price - such as carpets, curtains and certain items of furniture you do not wish to take with you. The questionnaire we send you includes a checklist to make it easy for you to decide what is included and what is not.
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Surveys |
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The buyer will almost certainly want a survey carried out on your property and if this reveals a problem, they may well expect a lower price to be agreed. The BBH team can help with these negotiations, our vast experience in all aspects of property sales will ensure that we get the best deal for you.
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Exchanging Contracts |
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Once you have signed the contract, this does not mean your house is sold. Only when both you and the buyer have signed and the contracts have been exchanged does the sale come into force. The contract is then legally binding on you both.
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Deposit |
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When exchanging the contracts we will also ask the buyer's solicitor for a deposit. The amount is usually 10% of the purchase price but this may be negotiable.
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Completion Date |
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When contracts are exchanged, the completion date is also agreed. This is the day when the balance of the purchase money is paid and you must move out of the house. Completion is generally 4 weeks after the exchange of contracts but this can be changed if all parties agree. Unless you are selling to a first time buyer, it is possible that you will become involved in a 'chain' where the buyer is not able to pay for the house until they has sold their own. The BBH team will do their best to speed things up, although sometimes delays are out of our control.
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Removals |
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You must move out of the house on or before the completion date. As soon as you hear contracts have been exchanged you should make your removal arrangements.
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Completion |
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Once contracts have been exchanged, the buyer's solicitor will prepare the purchase deed, this is the document that actually transfers legal ownership. It will be sent to you for signing undated and will only come into effect when we add the date. It is important that you sign this deed and return it as promptly to avoid holding up the completion of the sale.
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Mortgage Payments and Outgoings |
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When the contracts have been exchanged the BBH team will obtain a settlement figure from your existing mortgage company. At this time you should also organise fianl bills and the transfer of your utilities (gas, electricity, water and telephone).
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Estate agents Fees |
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If you are selling through an agent the fees will be due on completion of the sale. There is no need for you to worry about this as the BBH team will pay these fees from the proceeds of the sale unless instructed otherwise.
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