First time selling a house - where do I start?!

Z

Z100

Guest
Am about to put my house up for sale but I've never sold before (I know, I know, great timing :( ), only bought, so I haven't a notion what I'm meant to do about my mortgage.

Do I first get on to my mortgage provider (ie Ulster Bank) and inform them, or is that all left to the end, when (if) the house is sold?

Just want a fool's guide to how this is done, so treat me gently.

Thanks!
 
You don't have to worry about letting your bank know until you have sold the property. The Solicitor normally sorts that out, they request the figure from the bank to redeem the loan and then when you have received the money from the purchaser for the house, the Solicitor pays off the bank.
 
BK2 said:
You don't have to worry about letting your bank know until you have sold the property. The Solicitor normally sorts that out, they request the figure from the bank to redeem the loan and then when you have received the money from the purchaser for the house, the Solicitor pays off the bank.
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That's great BK2, thanks a million.
 
It mightn't be a bad idea to get your solicitor to contact your bank, so the deeds of the property can be released. This process can sometimes take several weeks.
 
budapest said:
It mightn't be a bad idea to get your solicitor to contact your bank, so the deeds of the property can be released. This process can sometimes take several weeks.
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Thanks for that Budapest. I'd like to change from the solicitor I used when I was buying the house (he was a joke :mad: ) and have been recommended another one - would this make things any trickier? ie will my current solicitor have documents, etc that I'll need to get hold of? :confused:
 
It doesn't make a huge difference if you use a different solicitor. The important thing is to inform him that you wish to sell and he should take care of the rest for you.
 
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