Are you considering selling your property but perhaps don't know where to start or what paperwork may be required? Selling your property can be a stressful time. However, this process can be made less stressful if you know the issues which commonly arise during this process. So what are the common things to be aware of?
Do you know where the title deeds to the property are?
This is especially relevant if you have been in your property for a long time and are unsure where your title deeds are being held. If there is a mortgage over the property, the title deeds will commonly be held by the lender who has granted the mortgage. If you have repaid the mortgage, the Lender may have returned the title deeds to you. Alternatively, the title deeds may be held by the firm of solicitors who purchased the property for you.
Have you taken a mortgage over the property?
It is important to know your mortgage account number as the mortgage must be discharged before you can sell the property. If the mortgage has been paid off, the lender may have sent you a letter confirming this. This paperwork is useful to retain as the solicitor selling your property will ask for sight of this documentation in order to discharge your mortgage with the lender. If you do not have this paperwork, don't worry too much as it is more important that you know your mortgage account number.
Have you carried out any alterations?
It may be that you have converted your garage into an extra front room or your loft into an extra bedroom. If this is the case, it is important that you hold all necessary consents and paperwork for such alterations.
When your property is put on the market, a Home Report will be instructed. The surveyor who carries out the Home Report will note that alterations have been carried out to the property. The purchaser's solicitor will then request all necessary paperwork for the alterations. Absence of the necessary documentation can lead to delays in selling your property and can also lead to extra expense in having to obtain copies of the documentation from the Local Authority.
It is also important to note that if your property is a Listed Building you will require Listed Building consent for every alteration which has been carried out.
If you would like further information or would like start the process of selling your property, please contact our experienced team who will be happy to help.
