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Selling a property and feeling naive

5 replies

brics · 27/09/2020 10:29

I am worried. I am selling a house for the first time and have no one to ask other than the agency who I truly do not trust!
What is the usual process. I had an offer from what the agency said was a cash buyer last week. I agreed to the offer over the phone. I later check rightmove and the property has been taken off the market straight away. I didn't know if this was normal as I haven't had anything in writing with regards to the offer and haven't had any details of the buyer etc yet.

Basically I don't know what the process is or what to expect. I don't like the agency but now I've sold through them I'm stuck for now. I also think they know I haven't got a clue and I don't want to be taken for a ride.
It's days like these I wish I wasn't wfh full time alone and have no family to ask anything! TIA

OP posts:
Dazedandconfused10 · 27/09/2020 10:32

You can ask them to continue marketing until survey is booked if you wish.

You and buyer will provide solicitor details and agent will send out a memo of sale.

Survey and mortgage val will be booked, then the sale will progress. You will need to complete forms and can do nearly everything through solicitor and not speak to the agent If you dont want to.

Itllbeaninterestingchristmas · 27/09/2020 10:36

Generally the agents stop promoting a property once an offer has been accepted
You can ask for the survey etc to take place within a fortnight and to aim to exchange contracts within 6 week and so you are not strung along by the buyer.

BrowncoatWaffles · 27/09/2020 10:40

@Itllbeaninterestingchristmas

Generally the agents stop promoting a property once an offer has been accepted You can ask for the survey etc to take place within a fortnight and to aim to exchange contracts within 6 week and so you are not strung along by the buyer.
Currently selling for the first time here too. I feel your pain!

You can ask for the survey to be taken within a fortnight if you like but if the market is as bonkers as it is here with the stamp duty holiday you'll be lucky - our buyers booked theirs the day we accepted the offer and the first available date was seven weeks away.

Have you instructed a solicitor you trust? Once you have you can let them get on with most of it (until they send you all the forms to fill in - start putting together any certificates for double glazing / central heating servicing / extensions etc now if you can so if you need to apply for duplicates you can).

Are you buying a new place too? Good luck!

HeddaGarbled · 27/09/2020 10:41

It is normal for your property to be marked as Sold Subject to Contract (STC) once you’ve accepted a verbal offer. You won’t get a written offer.

The next thing you do is instruct a conveyancer or conveyancing solicitor and they will start the paperwork etc with your buyers on your behalf.

Neither you nor your buyers are legally obliged to proceed with the sale until you have exchanged contracts. It is likely to be a couple of months before this happens as there will be a lot of legal stuff to do before exchange (surveys, searches).

Some people do continue to market their property after accepting an offer but this is considered bad form and likely to lose you your buyer.

brics · 27/09/2020 10:47

Thanks for all this advice I feel so much better just having any advice. Glad I'm not alone too.
So I need to get a conveyancing solicitor on the go then.
I do have a solicitor I've used to buy this property and but I haven't checked how busy they are. I better get moving on this then.

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