Navigating the Home Selling Journey: The Roles of Estate Agents and Solicitors Explained
When selling your home, it’s crucial to understand the roles and responsibilities of both estate agents and solicitors. By understanding how they collaborate to ensure a smooth transaction, you can make informed decisions when selecting an estate agent and solicitor, ultimately leading to a successful sale.
In this blog, Thursfields’ elaborates on the roles of both estate agents and solicitors, emphasising the importance of choosing an experienced estate agent and an accredited conveyancer to ensure a seamless transaction.
The Role of an Estate Agent
Estate agents are integral to the home-selling process, offering a range of services to ensure a smooth and successful sale. Their responsibilities include valuing your property, marketing it to potential buyers, negotiating offers, and overseeing the completion of the sale. Here are the key services provided by an estate agent:
Valuing Your Property: Utilising their knowledge of the local market, estate agents provide accurate valuations by comparing recently sold prices in your area.
Marketing and Viewings: Estate agents market your property to potential buyers by taking professional photographs, creating detailed listings, and managing viewings.
Negotiations: Estate agents handle negotiations, helping you secure the best possible terms for the sale of your property.
Buyer Verification: Legally, estate agents must verify that the buyer is serious and financially capable of purchasing your property. This includes ensuring the buyer has sufficient funds, a mortgage or mortgage in principle, and proof of the deposit source if the buyer is paying in cash.
Managing the Sale Process: Estate agents keep the sale process moving by valuing the property, negotiating offers, liaising with your conveyancer or solicitor, and ensuring effective communication throughout. They use their expertise to facilitate smooth negotiations and oversee the completion of the sale.
The Role of a Solicitor
A solicitor plays a crucial role in the legal aspects of the sale process. Here are the key services a solicitor provides:
Determining the property’s value: A solicitor will conduct a thorough property search to help determine the value of your home.
Drafting the sales contract: The solicitor will draft a sales contract that outlines the terms and conditions of the sale.
Negotiations and due diligence: The solicitor will negotiate on your behalf if there are any issues or disputes during the sale process.
Managing the settlement process: On settlement day, the solicitor will ensure that all necessary documents are signed and exchanged, and that the transfer of ownership is completed smoothly.
Benefits of Working with a Solicitor
Understanding the roles and responsibilities of both estate agents and solicitors is essential for a successful home sale. By recognising how they collaborate to facilitate a smooth transaction, you can make informed decisions when selecting an estate agent and solicitor.
Working with a solicitor helps you avoid potential pitfalls and ensures efficient and effective communication, to give you peace of mind throughout your house sale.
For assistance with conveyancing matters contact Thursfields Residential Property team on 0345 207 372 8 or info@thursfields.co.uk.
