When our client accepts the offer of a buyer we verify with his lawyer the terms of the contract before it is signed.

It is normal to withhold sufficient funds from the sale proceeds to cover any pending utility bills etc.

Unless it appears that there will be any Capital Gains Tax to be paid there will be a 3% withholding tax which is deducted from the sales proceeds. This is subsequently refunded by the tax office after all the necessary paperwork has been approved and filed. Of course, these items will be included in the list of expenses

You will have the choice as to whether or not to attend the completion of the sale yourself or have us deal with it. Most clients tend to leave us to deal with the completion of the sale and we would obtain the right to do this for you via a Power of Attorney (POA). In fact, even if you would like to be at the Notary office yourself it is advisable to grant us a POA. You can click here for an explanation of a POA.

Apart from representing and signing on behalf of the client at the notary, it is increasingly necessary to use powers to resolve any incident that may arise afterwards. For example, transferring funds, providing documents, dealing with tax office queries, termination of utility contracts and closing bank accounts.

An important issue before formalizing the sale is knowing how our client wants to receive the money. Of course it is not a problem to deposit the price in our client account and transfer to your account, the problem in these cases are the expenses.
There are many companies dedicated to currency exchange and transfer (Money Corp, Currency Direct, HiFX, etc.), if the client does not have an agreement with their own bank, or the commissions are high, it is good idea to contact any of these companies and ask about the conditions to transfer the monies.
We will also ask you for the IBAN of your current account in the United Kingdom in order to make any transfer on your behalf ( balances in your account at the time of cancellation for example) or to facilitate the return of the 3% withholding fee charged to non-residents.