What happens after a property has sold

The process of selling a house takes some time, from organising the best estate agents, listing it on websites and in the press, conducting viewings and negotiating with buyers. However, it is also a rather protracted process even when a sale has been agreed, and this can become incredibly frustrating if it drags on.

That said though, it is a lengthy process. As a rule, a transaction will usually take two to three months to complete. The position the buyer is in affects this, as do all the elements in the chain. For your particular property though, there is still much that needs to be completed.

The first thing that estate agents in the UK need to do is release the Memorandum of Sale and, before this can be done, solicitor details will be needed from you, the seller, as well as the buyer. To help speed things up, it is best if you have a solicitor already in place, rather than seek one following the sale being agreed.

If this is not the case though, the best estate agents will have a list of good solicitors that can be recommended. Once the solicitor is in place, the memorandum can be released to all stakeholders, and the proceedings can continue, with the issuing of draft contracts. Surveys will then likely take place, whilst negotiations over certain points can also hold things up.

Throughout the process, your estate agent should be providing regular updates as a matter of course. There should be no need for you to contact them though, if necessary, this door should always be open.

As much as the marketing of a property well and service are important for vendors to bear in mind when selecting their agent, so too how they manage the sale is essential. As such, checking out the reviews with us at meetmyagent.co.uk can help you make a decision over who to work with.

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