How do I know if the offer I have received is valid?
A buyer must make an offer through the estate agent if a home is sold through one.
A buyer can only make their offer directly to the seller for a private sale. Buyers can make offers verbally (over the phone or in person), in writing, or online.
An offer isn’t legally binding in England and Wales until contracts are exchanged.
If a buyer makes an offer ‘subject to contract’, this means the price can still be negotiated (e.g. if a survey finds a problem with the property).
Customers with High Street Service package will be advised by their agent.
If I accept an offer on my property can I continue to accept viewings?
Yes. You can choose to keep your property on the market which means that other interested parties will be able to book viewings on your property. Please seek advice from your property lawyer should your buyer wish you to stop all viewings.
What does negotiation involve?
A negotiation involves a recommendation made by the seller to a buyer who has submitted an offer. The buyer may then choose to make a new offer based on this recommendation, submit a new offer with alternative conditions, or end negotiations.
Can I change my mind about an offer I have accepted?
Yes. As long as you have not yet exchanged contracts. An offer isn’t legally binding in England and Wales until contracts are exchanged.
How and when should I tell a buyer that I’ve changed my mind about accepting their offer?
As soon as you have accepted an offer a Memorandum of Sale will be issued, so it is important you inform the potential buyer that you no longer wish to proceed with their offer as soon as possible to save costs for both parties. You can do this on our website by logging in to your dedicated space
At what point to I appoint a property lawyer?
It is always good to appoint a property lawyer as early as possible in the process. Remember that whilst many solicitors handle house sales it may not be their main area of expertise so we recommend that you choose a specialist property lawyer to handle your sale.
Countrywide conveyancing services (CCS) will be happy to assist you. Should you wish to take advantage of this service you can speak directly to CCS on 0161 332 7608, email them at firstname.lastname@example.org or speak to your branch. If you have bought an Enhanced Marketing package, one of the benefits is the Fast Start conveyancing service provided by Countrywide conveyancing cervices and they will be in direct contact with you about next steps.
What is a ‘chain’?
A chain, when used in reference to the process of buying or selling a house, is a sequence of linked house purchases, each of which is dependent on the preceding and succeeding purchase. Each member of the chain is a house sale, which depends both upon the buyers receiving the money from selling their houses and on the sellers successfully buying the houses that they intend to move into. Where no chain exists, it is called a chain-free property.
What constitutes a sale?
A property transaction is considered to be a sale when:
- The entire chain has been completely checked, from top and bottom.
- Lawyers have been instructed by all parties.
- All buyers have been financially evaluated and money laundering checks carried out.
- An offer form has been fully completed, to include chain details.
- An offer form has been signed by all parties.
A Memorandum of Sale has been issued with agreed target exchange and completion dates.
What are the conditions of sale?
When a buyer makes an offer we ask them a series of questions which helps us identify factors that may affect the amount they have offered. For example if their offer is subject to contract, if there is a specific time by which the sale must be complete, or if there are any specific items they think are included in the sale - these will be the ‘conditions of sale’
I have changed my property lawyer half way through my sale. Who do I need to notify and why?
If you have changed your property lawyer before accepting an offer on your property you can simply update these changes on the website. If you have changed your property lawyer after accepting an offer on your property, please contact 0161 495 5840.To avoid delays to your sale, it is important that you let us know of any such changes.
Who can help me with the legal parts of my sale?
Countrywide conveyancing services will be happy to assist you. They have helped over 1 million people like you, and do nothing but conveyancing – they are the experts.
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