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Selling Property

Selling your home is a significant personal and financial decision and it is important to have the right legal support to ensure everything goes smoothly.

At SMR Solicitors, we understand the importance of selling your property efficiently. Whether you are selling a house, flat, or investment property, our experienced team can guide you through the process with clear, practical advice.

We will handle all the legal details, from preparing contracts and managing enquiries to working with the buyer’s solicitors so you can focus on your move. We are here to make sure there are no unnecessary delays and that your sale completes on time.

Our selling property solicitors at SMR can assist with selling a wide range of properties, including:

  • Auction properties
  • Freehold properties
  • Leasehold properties
  • New builds
  • Shared ownership properties

Speak to our selling property solicitors in West Sussex

To discuss your requirements and find out how we can help, please get in touch to speak to one of our expert selling property lawyers.

Selling property explained

The process of selling property

Initial action

  • Contact us as soon as you place your house on the market. We can obtain the deeds in advance to avoid any delays once a buyer is found. Please check your paperwork and supply us with any documents or correspondence relating to the property, such as planning documents or guarantees.
  • We will need the name, address, and mortgage account number of all loans registered against the property.
  • We will send you forms asking for information on any matters arising during your ownership that will be of particular interest to your buyer.  We will also send you a Fittings and Contents form for you to identify the items that you intend to leave or remove from the property.  Generally, any item fixed to the property is included in the sale unless you specify to the contrary.

Once a buyer is found

  • The estate agents will issue the agreed details of all parties (Memorandum of Sale), containing the agreed price and any timescales or contents that have been agreed as a condition of sale, to both you and the buyer, as well as to your respective solicitors.
  • We will then draft the contract and send it to the buyer’s solicitors for approval, together with copies of your deeds and the completed forms. 
  • The buyer’s solicitors will approve the contract and raise any enquiries they have on the documentation.  The contract will be sent to you for signing together with any enquiries that we are unable to answer.

Exchange of contracts

  • Until the exchange of contracts, there is no binding agreement between you and the buyer.  If one of you decides to withdraw, then you are able to do so.  Once the exchange of contracts has taken place, both you and the buyer are committed to complete the transaction on the agreed date.
  • The buyer will pay a deposit on exchange (between 5% and 10%), which is usually held by us as independent agents until completion.  It may be used for your own purchase if you are buying simultaneously.
  • You will now need to book your removal firm.
  • We will send you a transfer deed for signing, as well as a financial statement setting out the income and expenditure for the transaction. This statement includes details of the balance that is left over after paying off the mortgage, whether this balance is going straight to you or being used to purchase another property and specifies our fees.

Completion

  • On the day of completion, you should read the meters for gas and electricity and telephone the readings through to the relevant companies.  You also need to ensure that you have cancelled your building’s insurance and notified the local council (council tax) and water companies, who will arrange for any refunds as necessary.
  • We will receive the money from the buyer’s solicitors and make the payments shown on the statement. Completion usually happens around 1.00pm, but it is dependent upon the lenders and the number of parties in the chain. After completion, you are no longer the legal owner of the property.
  • Once you are ready to leave, you need to drop your keys off at the estate agents.

How long does the selling process take?

The time it takes to sell a residential property typically ranges from 8 to 12 weeks, starting from when an offer is accepted.

However, this can vary depending on several factors, such as the length of the property chain, how quickly mortgage offers and searches are completed, and whether any legal issues arise during the process.

Being well-prepared with the necessary documents and responding promptly to enquiries can help speed up the process and keep things moving smoothly.

What are the costs involved in selling a property?

One of the main costs involved in selling a house is your conveyancing solicitor’s fees.

To give you a good understanding of what our fees would look like, we have put together a conveyancing quote page.

Other costs you may need to factor in when selling a property include estate agent and removal fees and potentially an Energy Performance Certificate (EPC).

Please reach out if you have any questions or would like to discuss the fees involved in selling your property.

Do I have to pay capital gains tax?

If you are selling your main home, it is unlikely that you will need to pay Capital Gains Tax (CGT), as it is typically covered by Private Residence Relief.

However, if the property is not your main residence, for example, if it is a second home or a buy-to-let investment, you may be liable to pay Capital Gains on any profit you make from the sale.

The amount you pay will depend on your individual circumstances, including your income and the sale price. It is important to get tailored advice to understand your tax position before selling.

What happens if my buyer withdraws?

If the buyer pulls out after the exchange of contracts, they will forfeit their non-refundable deposit of around 10% of the sale price, and you may be able to take legal action.

While the collapse of your sale can be disappointing, our experienced conveyancing solicitors can advise on the next best steps and help you get your property sale back on track.

What is the role of a solicitor in the selling process?

Our conveyancing solicitors can help make the process of selling a property as smooth and straightforward as possible.

We will handle all the legal aspects of the sale, from preparing and reviewing contracts to managing communication with the buyer’s solicitor.

We will also deal with important tasks such as responding to enquiries, resolving any legal issues with the property title, and ensuring that funds are transferred safely on completion day.

Having an experienced solicitor by your side helps to prevent delays, protect your interests, and ensure everything is in place for a successful sale.

What documents do I need to provide?

When selling a property, you will need to provide several key documents. These typically include proof of identity, the title deeds (or Land Registry details), and an Energy Performance Certificate (EPC).

You will also likely need to complete property information forms, such as the TA6 (general information) and TA10 (fixtures and fittings).

If your property is leasehold, additional details about the lease and service charges will be required.

Having these documents ready from the beginning can help prevent delays and ensure the sale progresses smoothly.

Speak to our selling property solicitors in West Sussex

To discuss your requirements and find out how we can help sell your property, please get in touch to speak to one of our conveyancing lawyers.

For further information, speak to one of our experts