Selling your home can be confusing. Your solicitor will be able to guide you through the process, answering any questions that you may have.
It is usual that the buyers solicitor of a property will have many questions to ask regarding the property and the lease. These questions are sent to us and we answer them and return them to the buyers solicitor.
The buyers solicitor and your solicitor will work out the Service Charges and inform you of what you owe and what the buyers will owe up to and from the completion date. If you have a Direct Debit you need to let your solicitor know so they can take this into account when working out the figures. Please ensure that you cancel your Direct Debit from the date that you move. If there are any arrears on the property, these must be paid otherwise you will not be able to sell your home.
There are many legal terms that are used when you move that can be confusing. Below are these terms and what they actually mean.
Notice of Transfer - this is the legal notification which lets us know that the lease has been sold from you to your buyer. It will detail the date sold, your name and the buyers name.
Notice of Mortgage - this is the legal notification of the mortgage that is on the property, so when the new notice is sent it will have the buyers mortgage details on it.
Notice of Charge - this is the same as the Notice of Mortgage.