Selling a home with Broomfields

Upon confirmation of your instructions we will write to the buyer’s solicitors to confirm that we are acting for you.

We will need to provide to them draft contract papers including a property information form and fittings and contents form. If the property is a leasehold then a leasehold property information will also be supplied.

There is then likely to be a quiet period whilst they review the legal documents, apply for searches and wait for the buyer to finalise his or her mortgage arrangements. The buyer’s solicitors may raise enquiries with us about the information provided and we may require your assistance in answering some of these. At this stage we would send to you those enquiries which we are unable to address ourselves.

Once the buyer’s solicitors are in a position to proceed to an exchange of contracts we will issue to you a completion statement showing the balance of funds due to / from you. The statement will include items such as our costs, estate agents costs and any mortgage redemptions.

We will require your bank details for the account into which you want us to transfer any monies due back to you and AML checks have to be carried out to comply with the Law Society at a charge of £7.20 per person.

On the completion date the money will be paid to us by the buyer’s solicitors. Once received we will authorise you or the agent to handover the keys to the buyer . We will also arrange to redeem your mortgage, pay the agent’s fees and our own. Any monies remaining will be transferred to your nominated account.

Buying a home with Broomfields

Upon confirmation of your instructions we will write to the seller’s solicitors and ask them to provide us with draft contract papers. Once received we can move on to applying for searches which include the records of the local authority, the local water authority and environmental agencies.

Whilst the search results are awaited you will need to ensure your finance is arranged such as obtaining a mortgage offer (if required).

Once we have reviewed the draft contract papers, received the search results, your mortgage offer (where applicable) and replies to enquiries raised of the seller’s solicitors we can move to an exchange of contracts. At this stage we need from you the signed contract papers (which we will send to you prior to exchange) and payment of the deposit (normally this is 10% of the purchase price but can be less with agreement of the seller).

At the date of exchange a completion date will be set and prior to completion we will issue to you a completion statement showing the balance of funds required from you to complete your purchase. AML checks have to be carried out to comply with the Law Society and it is a charge of £7.20 per person.

On the completion date the purchase monies will be paid to the seller’s solicitors via the bank transfer system. The seller’s solicitors will authorise the seller or agent to handover the keys to you once the funds are received in their client account.

Post completion we will pay your stamp duty land tax liability and register the purchase (and mortgage if applicable) at the Land Registry. Once Land Registry have updated the title deeds we will send a copy to you and your lender.

Please click on the relevant button for information on Stamp Duty Fee and Land Registry Fee which will be additional costs.

Stamp Duty Fee
Land Registry Fee
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