Selling Residential Property

Residential Property Solicitors from HS Legal Solicitors are well-versed in every facet of the home-selling process. Call us on 01206500181 or contact us online.

When selling a property, you must select a law firm that specialises in a variety of property law-related areas. We handle every facet of leasehold and freehold residential conveyancing, including remortgaging, equity transfers, and equity release schemes.

Property sales can be a daunting task at times, especially for those who are unfamiliar with the procedure. We take tremendous pride in ensuring that your transaction is executed with utmost efficiency and minimal stress.

Conveyancing and Residential Property Law Advice

Our amiable conveyancing staff is consistently available to address any inquiries that may arise during and after the sale process. Unlike some law firms, we believe in a personal approach and you will have a dedicated property Solicitor who will answer any questions about legal advice when selling a property. You ought to have the opportunity to speak with your Solicitor each time you contact us, in order to receive immediate responses to any inquiries you may have.

Legal Aspects to Be Considered When Selling a Home

A few considerations that you will need to make:

• The Procedure for Selling Property
• Contrast Exchanging
• Other Factors to Consider

The Procedure for Selling Property

You are expected to receive the payment and sign over the property on the "completion date." The purchasers are permitted to enter into possession of the property they have purchased without holding you, your family, or any claims on the property or its contents liable. This does not include any items they have agreed to purchase, which must remain in the property.

Contrast Exchanging

The date, price, and conditions of the property takeover are formally agreed upon and enter into force as of the date your solicitor "exchanges contracts" with the purchaser's solicitor. A deposit is customarily remitted to us by the purchaser on this date. You will likely have the right to retain the deposit and the property in the event that the buyer fails to finalise the installation. The buyer will recover his deposit and you will be subject to a substantial claim for compensation if you fail to complete.

Therefore, it is evident that an exchange should only occur when both parties are certain they wish to purchase the property being offered and have sufficient funds to pay the purchase price. Neither party should be hesitant to accept the property until they are certain they can vacate it. Hence, it is practical to contemplate the subsequent issues that necessitate resolution prior to the exchange, considering the buyer's information requirements prior to providing his solicitors with instructions to proceed.

Following the exchange, it is your responsibility to maintain the property in a reasonable condition to the greatest extent possible. Until completion, you should not cancel your insurance coverage unless we instruct you otherwise.

Additional Factors to Consider

Although the majority of property sales proceed without a hitch, the risks involved and the likelihood that the buyer will be unable to proceed and, as a result, withdraw prior to contract exchange are apparent. In the event that the current buyer withdraws, you may therefore determine that it is prudent to continue advertising the property until the exchange of contracts in the hopes of securing an alternative purchaser. Nonetheless, should the purchaser object, you and your agent will be required to negotiate a solution to this dispute.

Upon the sale of your property, it might be prudent to revise other pertinent legal documents, including your will, that have been impacted. Additionally, we can provide tax planning services that maximise your financial investment.

On 01206500181, please reach out to our residential property solicitors.