SN1 reaction involves a single molecule in the rate determining step. It is a two-step reaction where the first step is bond breaking to form a carbocation intermediate and the second step is nucleophilic attack. SN1 reactions are favored by stable carbocations, polar protic solvents, and tertiary alkyl halides since these allow for easier formation of the carbocation intermediate. The reaction is first order with respect to the substrate and undergoes racemization when a chiral substrate is used. Nucleophilic attack occurs from the top and bottom sides of the planar carbocation.