We have sold our house in Newport without using an Estate Agent to somebody we know. What are the next steps? I know that our buyer needs to instruct a solicitor and have a survey done for his mortgage lender, and we need to instruct a solicitor. Is there anything else to be done at this stage?
You need to find an experienced and reputable lawyer to act on your behalf, and often personal recommendation is advisable. Request quotes from various law firms but remember that conveyancing is also a specialist area. Those solicitors with a good reputation in the property field will be structured and geared to drive your transaction forward as soon as possible and at the most competitive price.
If you are in possession of your Title Deeds you will need to supply these to your solicitor to enable him or her to issue draft contract papers. You will also need to complete property information forms and a list of fixtures and fittings detailing items included or available for sale in addition to the purchase price.
It is essential you instruct your lawyers promptly to avoid delay as the buyer’s solicitor is unable to do anything until he is in receipt of draft contract papers. In fact, it is arguable that you should consider your preferred lawyer before your property is sold. He may be able to provide you with impartial and crucial advice before the process starts.
Above all else, be aware of recommendation by third parties based on a referral fee being received as this does not always represent the best advice in view of the financial incentives involved for the referrer.