First the deeds to the property will be obtained either from the building  society if in mortgage or from the place where they are safely deposited.

It is the seller’s (vendor’s) solicitor’s job to prepare the draft Contract.  The Contract is the document setting out the terms on which the agreement is reached as to the sale of the property.  Once prepared, this is sent to the buyer’s (purchaser’s) solicitor, with any relevant accompanying documentation (eg a plan of the property or a copy of the lease if leasehold).  The buyer’s solicitor may wish to amend parts of the Contract but the seller’s solicitor will only agree to them if in the best interests of his client.  If the seller’s solicitors are operating the National Protocol (which Lee Davies & Co do) when sending out the Contract the Seller’s solicitor will also send a Property Information Form and Fixtures Fittings and Contents Questionnaire the details of which have been prepared in advance in conjunction with the seller.

Once the buyer’s solicitor is satisfied with the results of the searches and enquiries and the Contract has been agreed, both the seller and buyer will each sign a copy of the Contract.  The agreement becomes legally binding when the two signed parts of the Contract document are literally exchanged between solicitors and it is from this point that you will be legally bound to complete the sale or purchase.  The buyer’s solicitor will send a deposit with his client’s signed part of the Contract.  This is a sum of money, usually representing 10% of the full purchase price.  It shows the buyer’s intention to proceed with the transaction and will be forfeited by him if he later backs out of the agreement.

At this stage, a suitable day for completion and moving out of the property is determined. It is usually about four weeks from the date of exchange of Contracts.

We will then approve the Transfer Deed and ask you to sign it. We will also apply for any mortgage redemption figure and prepare the final accounts

On the completion date we will receive the balance of the sale price, in return for which we will hand over the title deeds to the buyer's solicitors.

We will redeem (pay off) any mortgage out of the sale proceeds, collect our legal fees and disbursements and will forward any left over money to you, unless you are using it for a related purchase.