Buyers and Sellers Checklist
Buyers Your Important Calls
It’s really important to contact your solicitor this week. Confirm your instructions to proceed and make payment for searches.
Week 1
Make them aware of the timescales you’re working towards and complete all relevant paperwork.
Your Finance
Your Solicitor
Your broker will submit a mortgage application and you will need to make payment for your mortgage valuation (survey). Your solicitor will send paperwork for you to complete.
If you’re not raising a mortgage and are planning to have a home buyers or building survey you will also need to make payment for this to take place. Make them aware of the timescales set for the survey to be booked in by – which should be within the first week of having your offer agreed.
Make sure your solicitor has your ID and proof of funds.
Regarding your deposit - if it’s tied up in investments or a savings account which requires notice, confirm the notice period and serve it immediately to avoid delays.
Call and update us on your progress.
It’s worth discussing life insurance with your broker.
They will request ID and proof of funds. Your solicitor will request a draft contract from the seller’s solicitor and apply for searches (These are legal searches for the property you are buying. There are four searches: Local Authority, Environmental, Water and Drainage and Chancel Repair Liability). They will confirm Stamp Duty costs to you.
Keep in regular contact with your broker or bank and call and update us on your progress.
Week 2
After your mortgage valuation (survey) has taken place you should receive a mortgage offer the week after. If you haven’t - then you will need to chase your broker or bank.
Draft contract received from the seller’s solicitor.
Mortgage valuation (survey) completed.
Your solicitor will receive searches back and raise initial enquiries.
Call your solicitor for an update. Call and update us on your progress.
Replies to enquiries received.
Week 3
Call your solicitor for an update. Call and update us on your progress.
Mortgage offer received.
Your solicitor will receive replies to all enquires, mortgage offer and approved contract.
Contact your solicitor to discuss possible exchange and completion dates.
Week 4
Make sure you have building insurance ready to go once you exchange.
Your solicitor will send you the contract and title report to sign.
Finalise your life insurance, if applicable.
Make initial enquiries with removal companies.
Week 5
Your solicitor may raise additional enquiries as a result of receiving the mortgage offer and searches.
Your solicitor will approve the contract and submit a transfer document, known as a TRI, to Land Registry ready to transfer ownership from existing to new owners.
Your solicitor will receive your contract and deposit money.
Sign your contract and send it back to your solicitor with your deposit money.
They will finalise completion date with the sellers solicitor.
Finalise completion date.
Congratulations, you have now exchanged contracts
Week 6
Your solicitor will call you and the seller’s solicitor to confirm the exchange of contracts has taken place and reconfirm the completion date.
Week 7 Congratulations, you have now completed and can move in
Week 8
Your solicitor will call you to let you know you have completed on your new property.
Dexters
Sellers You/Your Solicitor
We will write to the buyer, seller and solicitors confirming details of the agreed sale including price, timescales and any special conditions - We call this a memorandum of sale. In our experience, solicitors and mortgage companies would rather talk to their client (you!) than us. They respond far quicker and more thoroughly to you. We receive weekly updates from buyers and in turn can then update our clients, the sellers. This said, we are always available to answers any questions you may have.
The buyer will update us so we can update our seller. We may ask the seller to chase their solicitor.
It’s rare someone receives a survey that will stop a sale going ahead, however, a lack of understanding can cause concern so please do call us for advice if this is the case – whatever the query!
Advise your solicitor a sale has been agreed and they will get the necessary paperwork together. Your solicitor will apply to land registry for title deeds. You will receive paperwork from your solicitors, which includes a fixtures and fittings form, complete and return this promptly so as not to cause a delay. Upon receipt, solicitors will prepare and send draft contracts to your buyer’s solicitor. If your property is leasehold, and you haven’t already done so, contact your management company now to obtain a leasehold management pack. This can be a lengthy process so it’s vital this is done immediately to avoid delays.
Receive initial enquiries from buyer’s solicitor.
Receive and respond to additional enquires from buyer’s solicitor.
Call and update the seller on progress.
Your solicitor will approve the contract and send it to you to sign. The buyer will update us so we can update our seller. We may ask the seller to chase their solicitor at this point.
If you are buying another property make sure you have building insurance ready to go once you exchange. Make initial enquiries with removal companies.
The buyer will update us so we can update our seller. We may ask the seller to chase their solicitor at this point.
Your solicitor will receive the contract. Your onward purchase will be ready and you’ll finalise a completion date with your solicitor who will liaise with the buyers.
Congratulations, you have now exchanged contracts We call the seller to confirm arrangements for completion including timings and keys. We call the buyer to let them know what to expect on completion day and remind them to bring a form of ID to the office when collecting their keys.
Your solicitor will call you and the buyer’s solicitor to confirm exchange of contracts has taken place whilst reconfirming the completion date.
We pride ourselves on our five star service, so we will be asking both the seller and buyer for their feedback.
Congratulations, you have now completed We will call the seller to confirm when they will be vacating the property and ask them to bring any additional keys to the office once they are finished. Once we receive notification from the seller’s solicitor, we call the buyer to confirm the property is now legally theirs and they can collect keys from the office, we’ll remind them to bring ID.
Once money has been received your solicitor will call you to let you know legal ownership has transferred to your buyer.
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