Selling a Property.

For most people selling their main home, no — principal private residence relief exempts gains on a property that has been your only or main home throughout the period of ownership. Capital gains tax (CGT) may apply if the property has been let, used partly for business, or has not been your main residence for the whole period you owned it. CGT is also payable on second homes, buy-to-let properties, and inherited properties that are not your main residence. Gains on residential property are taxed at 18% or 24% depending on your income tax position. CGT on property must be reported and paid to HMRC within 60 days of completion. Wales follows the same CGT rules as England — capital gains tax is a reserved matter.

Yes — most property sales involve redeeming an existing mortgage. Your solicitor obtains a redemption figure from your lender — the amount required to pay off the mortgage in full on the anticipated completion date, including any early repayment charges. On completion day, the purchase funds are received from the buyer, the mortgage is redeemed from those funds, the estate agent's fees are paid, and the remaining balance is transferred to you. If the sale price is less than the outstanding mortgage — negative equity — you will need to fund the shortfall from other resources or negotiate with your lender before proceeding. Your solicitor will coordinate with your lender throughout the process.

Selling and buying simultaneously — often called a part exchange or a linked transaction — is the most common scenario for home movers. Both transactions must exchange contracts and complete on the same day, with the proceeds of your sale used to fund your purchase. Your solicitor coordinates with all parties in the chain to agree a simultaneous exchange and completion date. The practical challenge is that every transaction in the chain must be ready at the same time — a delay in one can push back all the others. Your solicitor will keep you informed of progress across the chain and manage the flow of funds on completion day, receiving sale proceeds and paying them out as the purchase price in a single coordinated sequence.

Most straightforward sales complete within 10 to 16 weeks of an offer being accepted, though this depends heavily on the chain. A sale to a cash buyer with no onward purchase is typically faster; a long chain where multiple transactions must complete simultaneously can take considerably longer and is more vulnerable to delays. The buyer's searches, mortgage offer, and survey all take time — and the seller's solicitor can only move as fast as the buyer's solicitor allows. Your solicitor can give a more realistic estimate once the chain is known and the buyer's position is confirmed.

Conveyancing costs when selling have two elements: our legal fees and disbursements — third-party costs such as Land Registry office copy fees. Because selling a property is an SRA-regulated service, we publish detailed pricing on our conveyancing pricing page so you can see what to expect before instructing us. Costs vary depending on the sale price and whether the property is freehold or leasehold — leasehold sales involve additional work, including obtaining a management pack from the freeholder or managing agent. There should be no surprises: we provide a full itemised estimate before you commit.

Your solicitor will need: official copies of your title from HM Land Registry (which they can obtain); any planning permissions, building regulations completion certificates, or guarantees for works carried out; the Energy Performance Certificate; FENSA or CERTASS certificates for replacement windows; electrical installation condition reports if available; any warranties or guarantees, such as new roof guarantees or damp treatment warranties; and, for leasehold properties, a copy of the lease. Completing the property information form (TA6) and fittings and contents form (TA10) accurately is also essential. The more organised your documentation at the outset, the smoother and faster the transaction is likely to be.

Your conveyancing solicitor handles all the legal work involved in transferring ownership of your property to the buyer. This includes obtaining official copies of your title from HM Land Registry, preparing the contract pack and title documentation, answering the buyer's solicitor's enquiries, dealing with any issues revealed by searches or the buyer's survey, managing the mortgage redemption if there is an outstanding loan, and overseeing exchange of contracts and completion. On completion day, your solicitor receives the purchase funds, redeems any mortgage, pays estate agent fees if instructed, and transfers the balance to you. Their role is to ensure the legal transfer is completed correctly and that your interests are protected throughout.

Withdrawing from a sale after exchange of contracts is a serious matter with significant financial consequences. If you pull out, the buyer is entitled to the return of their deposit and can also sue you for any further losses caused by your breach. The buyer may also seek specific performance — a court order compelling you to complete the sale. These remedies are real and enforceable. Pulling out after exchange should only be contemplated in exceptional circumstances and after taking urgent legal advice. If you are experiencing difficulties that might prevent completion — such as a problem with your onward purchase — your solicitor should be informed immediately so that options can be explored.

Before exchange of contracts, either party can withdraw from the transaction without legal liability to the other. If the buyer pulls out at this stage, you lose whatever has been spent on solicitor work and any other costs incurred to that point — but you have no claim against the buyer for those costs. You are free to remarket the property and accept another offer. This is one of the most frustrating aspects of the conveyancing process in England and Wales: there is no legal commitment until exchange, and sales falling through at a late stage are not uncommon. Keeping communication open with the buyer's solicitor and moving the transaction forward as quickly as possible reduces — but cannot eliminate — this risk.

On completion day, your solicitor receives the purchase funds from the buyer's solicitor by bank transfer. Once the funds are confirmed, you are required to vacate the property and the keys are released — usually through the estate agent. Your solicitor then redeems any outstanding mortgage, pays the estate agent's commission if instructed to do so, deducts their own fees and disbursements, and transfers the remaining balance to you. The timing depends on how quickly funds clear through the banking system — completion typically happens in the afternoon. You should ensure the property is fully vacated and all agreed fixtures and fittings are in place before the buyer's keys are released.

There is no legal right to renegotiate — but in practice, surveys that reveal significant defects often lead to price negotiations. Before exchange, a buyer is free to make a reduced offer or walk away entirely if a survey reveals problems they were not aware of. Sellers can accept a reduced price, negotiate a middle ground, or hold firm and risk the buyer withdrawing. The strength of your position depends on the severity of the defect, the state of the market, and how many other interested buyers there are. Once contracts have been exchanged, the buyer is committed to the purchase on the agreed terms and cannot use a survey to renegotiate.

A property information form — formally the TA6 form — is a detailed questionnaire completed by the seller covering everything a buyer needs to know about the property. It covers disputes with neighbours, complaints or notices received, alterations and planning permissions, building regulations approvals, guarantees and warranties, flooding history, and various other matters affecting the property. Sellers are legally obliged to answer honestly and accurately — providing false or misleading information can result in a misrepresentation claim after completion, and buyers can seek damages or in serious cases rescind the purchase. If you are unsure whether something needs to be disclosed, disclose it — omission is rarely a safe choice.

An epitome of title is a bundle of documents proving the history of ownership of an unregistered property — one that has not been registered at HM Land Registry. It typically includes a schedule of documents, copies of title deeds going back at least 15 years, and any relevant conveyances, mortgages, or other documents affecting the property. Unregistered land is now relatively uncommon — most property in England and Wales has been registered at some point — but it does still exist, particularly in older rural estates or where property has not changed hands for many years. Dealing with unregistered title involves more complex legal work and may trigger first registration at HM Land Registry as part of the sale.