Stage One: Solicitor Instructed
This is the date the client accepts our quotation and or gives us firm instructions to act.
Solicitor:
- Applies for your Title deeds
- Applies for a redemption figure from clients existing lender
- Client asked to complete an initial property questionnaire and fixture and fittings list.
- Solicitor contacts estate agent to request sales advice notice to include details of buyer and their solicitor.
Stage Two: Date deeds Requested
This is the date we request the title documents in respect of the client's property from whomever is holding them (i.e. lender, client or a firm of solicitors if there is no mortgage over the property).
Stage Three: Date deeds Received
This is the date the Title deeds come in from the existing lender or solicitor who has been holding them for the client.
Solicitor:
- Prepares a contract and sends this out with the Title deeds to the purchasers solicitor.
- Applies for property Certificate and searches against the property (i.e. Local Council, DOE, Statutory Charges Search, Title Search) and client (i.e. Bankruptcy, EJO Search).
- Prepare pre-contract enquiries based on the initial property questionnaire returned by client and forward to the purchasers solicitor with the fixtures and fittings list completed by the client.
- Receive the results of searches and property certificates and solicitor forwards same to purchasers solicitor.
Stage Four: Purchase's Offer Received
This is the date that we receive the signed contract and draft transfer deed from the purchaser.
Solicitor:
- Arranges for client to sign contract and title deed transferring the property to the purchaser.
- Advise client of any special contract conditions and clients obligations under the contract.
- Approves the transfer deed and arranges for you to sign same.
Stage Five: Date contract Accepted
This is the date that the contract is accepted - i.e. the client, the seller has signed it and it is faxed over to the purchaser's solicitor to confirm acceptance. It is now binding on all parties for completion as per the terms of the contract.
Solicitor:
- Receives the buyer's deposit (if one has been agreed)
- Obtains an up-to-date settlement figure for your mortgage
- Confirms to the client the amounts to be paid on account from the sale proceeds (i.e. redemption amount to the lender, estate agents bill, solicitors bill, balance monies to the client).
Stage Six: Case Completed
This is the date that the sale completes and the existing mortgage is redeemed, if applicable. The purchaser will receive the keys and the client will receive any balance monies payable to them.
Solicitor:
- Receives purchase price, or balance thereof (if deposit has been paid)
- Pays off the mortgage(s)
- Hands over any remaining deeds, and in particular the transfer Deed signed by the client to pass ownership to the purchaser
- Sends the balance monies to the client or uses this towards purchase (if any)
- Pays the estate agents bill if directed to do so by the client
- Confirms to the Rates Collection Agency and Ground Rent Agent (if applicable) that the client is no longer the owner of the property.
Subsequent to completion day the solicitor:
- Receives the vacated mortgage deed from the client's lender to confirm that the mortgage has been cancelled. The solicitor will register the cancelled deed and upon receipt of same from the registry will forward it to the purchasers solicitor.