next-home-brochure-draft6 - page 18-19

Date of settlement or entry date
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Step-by-step guide to
Concluding of Missives
(Contract)
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Step-by-step guide to
Missives preliminary enquiries following receipt of the draft missive or ‘offer’:
On the date of settlement i.e, the date
of entry, the purchasers solicitors pays
the purchase price to the sellers solicitors
and in turn the keys to the property are
delivered to the purchasers agents.
• Your Solicitor will send out a copy of the written Offer to you and will discuss the
terms with you. Once discussed with the Solicitor (which at this stage would include
any extras to be left or removed from the property and also the date of entry) will
issue a written formal acceptance to the purchasers’ Solicitors. If your Solicitors have
your title deeds then they will send them to the purchasers’ Solicitors with the formal
acceptance.
• The purchasers’ Solicitors will then discuss the formal acceptance with their clients and
raise any questions in relation to this and the title deeds with your Solicitor.
• Specific issues highlighted in the lease, if applicable.
• Your Solicitor will ask the purchasers’ Solicitors to confirm that their clients’ loan papers
are in place to try and avoid any delays.
• The purchasers’ Solicitors will then issue a further formal letter to your Solicitors which
will hopefully conclude the missives (the contract) and your Solicitors will discuss this
with you.
• Upon the Conclusion of Missives (the Contract), the buyer and seller are legally bound
by the Missives (the Contract) to complete the sale as agreed.
After signing of Missive:
• Prior to the completion date you should check through the completion statement
with your solicitor, which details all costs involved, and authorise them to settle any
necessary payments.
• The solicitor will then arrange for you to sign all the paperwork relating to transferring
the property over to the purchaser
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