Spotlight on Transportation – Sales Process

Before Putting Your Home For Sale – Get A Power Performance Certificate!

After suspending home information packs earlier this year, it is now legal to introduce an EPC for a seller before marketing for sale.

EPC grades the energy efficiency of an asset and can be beneficial for potential buyers.

For more information on EPC, click here to see our handy guide to Energy Performance Certificates.

Choose the right transport provider

As we have said many times throughout this spotlight on the transportation series, it is important to choose the right transportation lawyer for you. It’s best to do this at the beginning of the sales process as much as possible because you never know when an offer might come!

Many transportation providers operate on a “no move, no fee” basis, so you won’t lose even if your sales don’t go ahead.

The transportation process is starting

Once you instruct your carrier lawyer, they will send you a starter pack – a general questionnaire that provides a carrier lawyer with some basic information about the property; Existing mortgage details, some bank account details, and your personal information.

This will include a seller property information form (SPIF) that asks basic questions about your home, such as what boundaries a buyer will need to maintain, neighborhood disputes or complaints, and any changes or extensions to the property, as well as other information important to the transportation process.

Finally, there is a home content form that can tell your Cardiff conveyancing quote lawyer (and later your buyer) what items and accessories you are leaving and what you are taking with you.

The sooner you fill out and return your complete starter pack, the sooner your transportation lawyer can begin the transportation process, and the sooner you can proceed!

In the case of leasehold transactions, the transportation process is somewhat complicated and later it takes longer to complete. We will look at future leasehold convincing in the spotlight on the conveyancing service article.

Once a sale is agreed

Once your convincing lawyer has received a copy of the sales memo from your estate agent, they send a copy of the title (which provides legal proof that you are the owner of the property you want to sell) and a draft agreement to the buyer’s transportation agency.

The carrier of the buyers will then verify through the draft contract and conduct a qualitative inquiry. Your convention lawyer will answer your questions using the information provided in the property information form, although you may need to contact them to discuss certain issues.

Finish

Once all inquiries have been resolved, your shipping lawyer will agree to an expiration date and exchange the contract with the buyer’s transporter.

When contracts are exchanged, it all becomes legally binding and both the buyer and seller are obliged to complete on a legally set date – the expiration date.

Now is the time to start thinking about packing and sorting a removal van for the big day. Packing at home will always take longer than expected so give yourself plenty of time.

At the closing date, the buyer’s transporter will send the balance of the sale to your transport lawyer via telegraphic transfer. The transaction is completed as soon as the funds reach your transporter’s account and you have to hand over the keys and stay out of the property.

Martin

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