01The memorandum of sale, and what it starts
A sale is agreed when you accept, and it is recorded when the memorandum issues. The memorandum names the seller and the buyer, the property, the figure agreed, what is included in it, and the solicitor acting on each side. It goes to both solicitors and to both parties on the same day, because a file that opens from four different versions of the same sentence spends its first fortnight correcting itself.
From that point the branch is not a party to anything, and nothing on this sheet is legal advice. What the branch does hold is the diary: who was asked for what, on what day, and who has not yet answered.
02Who holds what, once the memorandum has gone
Four desks carry a sale between an accepted offer and a completed one, and the commonest delay is a question sitting on the wrong desk. The schedule below is the answer the counter gives when somebody rings to ask who they should be chasing.
| Desk | What it holds | What it is asked for |
|---|---|---|
| The branch | The memorandum, the diary of the run, and the keys. | Progress, access for surveys, and whatever a solicitor cannot ask the other side directly. |
| Your solicitor | The title, the contract pack and the replies to enquiries. | The contract, the answers, and the date each side can work to. |
| The buyer's solicitor | The searches, the enquiries raised and the buyer's funds on the day. | Enquiries, the report to the buyer, and confirmation that funds are in place. |
| The buyer's lender or surveyor | The valuation or survey instructed on the property. | An appointment to inspect, and the report that follows it. |
03The nine stops, and the hand each is in
These are the same nine stops printed on the front sheet, set out here with the hand that holds each one. The order does not change from sale to sale, and no stop below carries a length of time, because a chain of four sets its own pace and the branch would rather tell you where a file actually stands.
- 01Valuation bookedHeld at the counter: the appointment is entered in the diary and confirmed to you in writing before it is kept.
- 02Inspection and figureHeld at the counter: the rooms are measured, the tenure is established, and the advice is confirmed to you after the visit.
- 03Particulars approvedHeld by you: the draft and the photographs wait for your approval, and nothing is published before it comes.
- 04Launch and viewingsHeld at the counter: appointments are booked, accompanied and written up, and every note reaches you.
- 05Offer receivedHeld at the counter and passed straight on: the offer reaches you with the buyer's funding, chain and readiness beside it.
- 06Sale agreedHeld by you: the decision on the figure and on the buyer's position is yours, and the file moves when you make it.
- 07Memorandum issuedHeld at the counter: the memorandum goes to both solicitors and both parties on the day the sale is agreed.
- 08Enquiries answeredHeld by the two solicitors: the branch answers what belongs to it, and chases what is sitting with somebody else.
- 09Exchange, then completionHeld by the two solicitors: contracts are exchanged on a date both sides can work to, and the keys follow on that date.
04Enquiries, and where the answers come from
Enquiries are questions a buyer's solicitor puts to yours about the property and the title. Most of them are answered from documents you already hold, and the branch's part is to know which document answers which question so that nothing is asked of you twice.
| The question | Answered from |
|---|---|
| Alterations and extensions | The planning permission and the building regulations completion certificate held for the work. |
| Boundaries and shared access | The title plan, and any written arrangement with a neighbour. |
| The lease, on a flat | The lease itself, with the last service-charge demand and the buildings insurance schedule. |
| Communal works on a block | The managing agent's replies, including any consultation notice already served. |
| Guarantees | The paperwork for the windows, the boiler, a damp treatment or a roof, where it exists. |
| What is included | The fixtures form, read against the particulars you approved at the start. |
05Exchange, and the day the keys move
Contracts are exchanged when both solicitors are satisfied and both parties are ready, and the completion date is fixed at that moment rather than before it. Until exchange either side may still withdraw, which is why the branch keeps you told where the file stands rather than telling you it is nearly done.
On the completion day the money moves between solicitors, and the keys are released from the branch only once your solicitor confirms that it has. Keys are handed over at the counter or at the property by arrangement, meters are read by the parties, and the file is closed on the same entry it was opened on.
The run, printed on the front sheet · What the branch holds, and for whom