The Sales Process

After a busy start to the year, we have seen a record number of sellers and buyers looking for their next home. The start of a new year can often be uncertain for the housing market, but 2022 is promising to be a positive year. Along with new properties, we have also seen an increase in the number of previously marketed homes coming to us who are needing a fresh approach.

If you are thinking of making a move this year, here are some points to help you through the sales process.

Things to consider initially:

  • Choosing your solicitor – after having your offer accepted, it is important to instruct a solicitor as soon as possible to start the legal side of the sales process. We have a panel of recommended solicitors who we work with each and every day to help reduce the stress.
  • Finances – To avoid any delays further down the line, you should ensure all your finances are in place. This means submitting any mortgage applications and ensuring any deposit funds are available.
  • Survey – If you would like to have a survey, it is best to get this booked in as early as possible to avoid further delays. We have a number of highly regarded surveyors who we would recommend.
  • Removals – If you plan to use a removal company, it is advisable to get some quotes early on so you have them lined up for when you have a completion date. There are a number of large and small companies based in Norfolk and Suffolk to choose from.

The Legal side:

On average a sale takes around 8 – 12 weeks to reach the point of completion. Whilst each sale or purchase is different, the legal process includes these key stages:

  • Instruct: After choosing a conveyancer to use, you will be sent a client care pack with forms to complete and return.
  • Contract: The draft contract is prepared by the sellers conveyancer and sent to the buyers conveyancer.
  • Searches: The buyers conveyancer may apply for searches which include a local authority search, an environmental search and a drainage search.
  • Enquiries: The buyers conveyancer will review the contract pack and raise necessary enquiries with the sellers conveyancer.
  • Mortgage offer: If the buyer requires a mortgage, this will be sent directly to the conveyancer following a mortgage valuation (if applicable).
  • Sign: When the buyers conveyancer is happy with all responses, a report and the contract will be sent to the buyer for signing. All parties will also need to agree a date to move.
  • Exchange of contracts: At this point the deposit is paid and the contract and sale are legally binding.
  • Completion: The day the funds are transferred and the keys are handed over to the buyer!

We have a dedicated Sales Progression team who will keep in regular contact, liaising with the entire chain, to progress your transaction through to exchange and completion. To find out how we can help, call your nearest team or use our Free Instant Online Valuation tool to get an idea of what your property might be worth.