What paperwork do I need to complete when selling my property?
Posted on 16th January 2024
When selling a property, MG Legal, your Conveyancing Solicitors in Lancaster, understand that there can be a lot of information to take in and consider. In particular, there can be a large volume of documents for you to read, complete and sign. This is why your conveyancing solicitors in Lancaster are always on hand to help, assisting clients with the completion of important paperwork on a daily basis.
There are a number of important documents your Conveyancing Solicitors will provide. Below, our team have explained what paperwork there is, and why the documents are necessary to progress your Conveyancing transaction.
Property Information Form
Also known as the TA6. This form will provide the buyers, and they Conveyancing solicitor, with a volume of information about the property, which ranges from information on works carried out at the property, any guarantees and warranties you may have, any disputes that have ever occurred, any informal arrangements in place, for example for parking, details of any occupiers of the property etc. As you can see, this form covers a wide range of aspects about the property. This form is, in most circumstances, legally required. Not completing this at the start of your sale, could slow progress at a later stage.
Fittings and Contents Form
Also known as the TA10. Within this form, your Conveyancing Solicitor will require that you confirm what items you intend to leave or take from the property, upon Completion. This includes items such as curtains, light fittings, carpets etc. This form is referred to on the Contract, which is exchanged and made legally binding later in your transaction, so you need to ensure that this is completed in full, and adhered to when you move out.
The Contract for sale is the legally binding document which confirms you agree to sell the property under the terms stipulated within. This will be drafted by your Conveyancing Solicitor, and sent to the buyer’s solicitor for their approval. Both parties will sign a separate copy of this agreement.
At a later stage of the transaction, your Conveyancing Solicitors in Lancaster will proceed to Exchange Contracts with the buyer’s solicitor. Before signing this document, you should check that you agree to all the terms of the Contract and the information noted, paying particular attention to the sale price, asking your conveyancing solicitors for advice on any information you are unclear on or are unhappy with.
Also known as the TR1, the Transfer Deed is the document that the Conveyancing Solicitor uses to effectively transfer the ownership of the property from one party to the other, with the Land Registry. By signing this document, you are confirming that you agree to transfer the property to the buyers. It’s important to note that the TR1 is usually signed in advance, only being finalised on the day of completion, after exchange of contracts. Your conveyancing solicitors in Lancaster will forward this Deed to the buyer’s solicitor who will submit the same to the Land Registry to register the change in ownership of the property.
There may be further documents which your conveyancing solicitors require you sign, as each Conveyance can be unique. Our team will guide you through the process- and the necessary documents- throughout your matter, and ensure you are aware of what each document is, and why it’s necessary.
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