Selling a property is a multi-faceted process that demands several steps be taken before the sale can be completed. One of the critical components of this process is conveyancing, which involves the legal transfer of property ownership from the seller to the buyer. In this blog post, we’ll provide a comprehensive outline of the steps involved in the conveyancing process for selling a property.
Step 1: Appoint a Solicitor/Conveyancer
Appointing a solicitor or conveyancer is the crucial first step in the conveyancing process. This legal professional will be your trusted guide throughout the sale, providing valuable advice and ensuring all the necessary paperwork is completed. A solicitor or conveyancer can offer expert support in a variety of ways, including:
- Reviewing and preparing legal documents including the contract for sale, ensuring all the necessary terms and conditions are included in the contract to protect the interests of the seller.
- Title searches and checks to confirm the ownership of the property and any outstanding debts or encumbrances and ensure the property is free from any legal issues that may affect the sale
- Liaising with the buyer’s solicitor or conveyancer to negotiate the terms of the sale. This ensures any issues or concerns raised by the buyer are addressed.
- Settlement arrangements coordinated with the buyer’s solicitor or conveyancer to ensure arrangements for the payment of the purchase price and the transfer of ownership to the buyer.
- Advice and support throughout the sale, answering any questions you may have and ensuring the sale runs smoothly.
Step 2: Have the Contract Prepared
Once you have appointed a solicitor or conveyancer, they will prepare a contract for the sale of the property. This contract will outline the terms of the sale, including the purchase price, deposit amount and settlement date. It is important to have a legally binding contract in place to protect both the seller and the buyer.
Step 3: Engage A Reputable Real Estate Agent
Engaging a reputable real estate agent can make a significant difference in how quickly and smoothly your property sells. A real estate agent can offer valuable support and expertise in a variety of ways, including:
- Setting a realistic asking price through extensive knowledge of the local property market. This involves considering the current market conditions, recent sales data and the unique features and location of your property.
- Marketing your property to potential buyers, including advertising on online property portals, social media and in local newspapers, as well as arranging open house inspections and private viewings.
- Providing professional photography and staging to ensure your property is presented in the best possible light.
- Negotiating with buyers and advising on the most effective strategies to secure a sale at the best possible price.
Step 4: List Your Property For Sale
Once you have appointed a solicitor or conveyancer, had a contract prepared and engaged a real estate agent, you can list your property for sale.
Throughout the sales process, your real estate agent will keep you updated on any interest in your property and provide you with regular feedback from potential buyers. They will also handle negotiations with buyers on your behalf and assist with the preparation of the contract of sale.