The solicitors of both parties will decide on a specific date for the actual exchange of contracts.
After the signing of the contract, the sale then becomes legally binding for both the seller and the buyer. You will then receive 5% to 10% of the established sales price as a deposit, and your solicitor will fix a completion date for the buyer.
Your solicitor will not issue this deposit except if the seller defaults, but it may also be utilized as a deposit for another property if you are part of a chain.
Upon the completion day, you will be given the remaining amount of money (commonly transferred directly into your account) and hand over the keys of the property.
Table Of contents
- Home Selling Guide Intro
- Knowing When To Sell Your House
- Expenses Involved In Selling Your House
- Who Will Sell Your Property
- Valuing your Property
- Choosing An Agent
- Selling Your Home Privately
- Selling A Property At Auction
- Preparing Your Property For Sale
- Property Viewings
- Conveyancing For Sale
- The Sale Completion