Keep track of conveyancing progress
1. The seller (you) instructs their conveyancer who will confirm business terms, check proof of identity, and send out the forms you must complete detailing ‘fixtures and fittings’ and other information about the property.
2. The seller's conveyancer will get title deeds or official copies of the title register from the Land Registry and details of any amount outstanding on an existing mortgage.
3. The seller's conveyancer prepares draft contract and supporting documentation to send to the buyer’s conveyancer, who may raise pre-contract questions.
4. Once those and other queries have been dealt with to the satisfaction of both parties, a completion date is agreed and contracts are formally exchanged. Once contracts have been exchanged, it means both parties are legally committed to the transaction.
5. The buyer’s conveyancer will draft a transfer deed and send to the seller's conveyancer for you to sign in readiness for completion.
6. On completion the seller must vacate the property and hand over the keys to the estate agent.
7. The buyer’s conveyancer sends the proceeds of sale to your conveyancer and at that point, keys will be released to the buyer.
8. Your conveyancer will send the title deeds and transfer deed to the buyer’s conveyancer, pay the estate agent’s commission, any outstanding mortgage and take their own fee. Once all those payments have been made, the remaining funds will be transferred to you.