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Once the sale price has been agreed, Le Rossignol Estates will write to your lawyer (if you have not done so already, now is the time to call different law firms for quotes) to advise of the sale with the completion dates agreed between both parties. Again, we work closely with a number of lawyers and are always happy to provide recommendations.
When Le Rossignol Estates find a buyer for your property, they will instruct both your and your purchaser's lawyers and establish a completion date that is suitable for both parties. Jeremy will attend your property to produce an inventory of contents for you to approve and a copy of this is sent to the lawyers which forms a part of your purchase contract.
Once the lawyers have been instructed, things tend to go quiet. This is normal and should not cause you concern. The lawyers will be working behind the scenes liaising with the buyer's lawyer, your lending bank and ourselves with a view to complete on the agreed date.
Once your lawyer has received your instructions, they will draft your contract of sale. This involves updating information from your neighbouring properties, fusing together subsequent contracts passed and, if you bought your property prior to 2006, translating the contract from French to English.
If required, your lawyer can draft a pre-sale agreement setting out the terms of sale, although this is not standard Jersey practice as in most cases such agreements are subject to finance and title research (by which time it is usually possible to pass contract).
Your lawyer checks the Public Registry for any mortgages secured against your property and write to your lending bank for a redemption figure. Your lawyer then repays your borrowings directly out of the sale proceeds and cancel the charges registered against your names in the Public Registry (£60 stamp duty per charge cancelled).
Your lawyer is asked a number of questions by the buyer's lawyer in relation to the property. Most are standard but some relate specifically to your property. Your lawyer will talk you through these queries and explain the implications of your responses. They will then respond on your behalf. If there are any issues at the property with regard to its boundaries, building works, planning permits etc. they will either contact you or put you in contact with the relevant people to assist in rectifying the situation as soon as possible.
Once the sale has taken place, the buyer's lawyers are required to send the monies to you as soon as possible and in most cases your money is deposited in your account on the Wednesday following the sale.