When selling a property your sale will go through a common set of stages. This guide will help you understand those stages.
On The Market
Once we’ve taken marketing photos and details of your property, we will create a listing for you to approve. Once approved we will push your property instantly to the top property marketing portals including: Rightmove, OnTheMarket, Zoopla and Prime Location.
Offer Negotiation
Once an offer comes in, the Coppenwall team will assist in negotiating a deal for you. We will analyse a buyers current position, and provide as much advice as we can about them to enable a seller to make a final decision. More info on offers here.
Proof of Funds
- AVERAGE COMPLETION TIME: 1 WEEK
The Coppenwall team will validate a buyers funds to ascertain they are in a position to move forward with a purchase. We also do an AML (Anti Money Laundering) check on any buyer. Once all the funds and identities are validated, we will issue a sales memo to the legal teams.
Memorandum Of Sale
- AVERAGE COMPLETION TIME: 1 WEEK
A memorandum of sale, or sales memo, is a document sent to both a buyer and a sellers’ solicitor. We have solicitor partners that you may want to use to sell / buy a property. We work very closely with our solicitor partners, and this can help speed up a transaction. Contact the team.
Property Survey
- AVERAGE COMPLETION TIME: 4 WEEKS
Its normal that at least one survey will need to be carried out on a seller’s property. A mortgage lender will more than likely carry out a survey if a buyer is getting a mortgage. If a buyer wishes to, they may also choose to get a home buyers survey which is more in depth survey about the current state of a property. More info on survey types here.
Searches
- AVERAGE COMPLETION TIME: 8 WEEKS
Property searches are held by your local council. Your solicitor will request these to check factors that could affect a property, such as: coal mining searches; water and drainage searches; environmental searches; and local searches.
Enquiries
- AVERAGE COMPLETION TIME: 4 WEEKS
Enquiries are questions raised by the buyers solicitor to finalise the contract for the property purchase.
Exchange
Contracts are signed and both parties agree to the sale and a completion date.
Completion
Completion day is the date at which a property legally changes hands and new owners will get the keys. This can sometimes be a tough day as one party maybe moving out whilst another party moves in. It’s best at this stage to BE PREPARED.
If you are looking to sell your home, please get in touch with the team.
