Stepping up to the Challenge of the Sale Board03-Feb-2020
By Stuart Hill, Solicitor, Residential Conveyancing
As part of our Under One Roof campaign, Stuart Hill shares some top tips on preparing for the sale of your property.
Sellers should get themselves well prepared before they put up the For Sale sign, as this can lead to a much smoother and swifter transaction.
Our Under One Roof Home Buyers Package offers the ideal solution for those who a looking to move home as it includes: truly independent mortgage advice, tailored life insurance, expert residential conveyancing (of both your sale and purchase) and specialist Will writing all for one fixed fee.*
Savvy sellers are instructing and making ready before they market. That includes lining up all the paperwork in advance. It’s a tactic that avoids delay later and means they are ready to act immediately when a buyer is found.
Here are some of the most likely stumbling blocks to avoid:
Dig out your deeds
Old deeds and conveyancing documents may be important, even though most properties are now registered at the Land Registry and the owner’s title consists of an electronic entry held by the Land Registry. But the old deeds may contain information that does not appear in the Land Registry records.
Document your building works
It’s tempting to throw away old papers when spring cleaning or thinking of moving home, but anything relating to renovation or upgrading on a property should be kept safe, to avoid problems and delays when you come to sell your house.
Internal modifications may have required building regulations consent and, when the work is complete, you will need a certificate confirming that those regulations have been satisfied, together with any planning permission, if that was also required.
If you are in a leasehold property, then works requiring approval by the freeholder will need to be documented as well.
To take up this offer, contact us and quote "Under One Roof"
Validate your upgrades
Be sure of what paperwork a tradesperson is supposed to provide and make sure you have it on file.
Any work involving electricity or gas should be carried out by someone who is suitably qualified, and they should certify that the work has been properly carried out in accordance with applicable regulations.
Be prepared to bargain
Bargaining doesn’t always stop when the sale price has been agreed. Often a survey may throw up unexpected problems that give a reason for a buyer to come back to the bargaining table, but in tough conditions there can be cases of gazundering when a buyer tries to agree a lower price just before exchange of contracts. Like gazumping, where the seller tries to hike up the price or accepts a higher offer, both practices are perfectly legal; there is no binding agreement as to the price or any other term of the bargain until contracts are exchanged - which usually only happens six to eight weeks after the prospective buyer’s offer has been accepted and the conveyancing process begins.
You may still be challenged for a price reduction, and you may decide to agree to one, but you start from a stronger position.
Be fraud aware
Cyber-criminals are known to be hacking into email exchanges on legitimate property transactions, apparently by using technology that scans through millions of emails to identify data patterns that may reference valuable financial transaction information and then targeting parties involved to try and re-direct funds. Be aware of the potential for fraud when dealing with each stage of the transaction and always verify everything, even where you are sure you know who you are dealing with.
Keep up with the stamp duty
If you’re buying as well as selling, then be aware that there are new rules for the payment of stamp duty which came into effect on 1st March 2019. These new rules state that the return must be filed, and the tax paid within 14 calendar days of completing a purchase, down from the previous 30 day deadline. If appointed as your conveyancer we will be making this payment on your behalf.
If you are considering your next home move and would like to benefit from our Under One Roof Home Buyer Package, call 01244 356 789 or email email@example.com and quote “Under One Roof”.
*The following terms and conditions apply
- The fee of £2,500 covers Cullimore Dutton Solicitors Limited fees and does not include Stamp Duty or any other disbursements such as search fees etc.
- Inheritance Tax Advice is not included as part of the Under One Roof Will writing service.
Please note: This is not legal advice; it is intended to provide information of general interest about current legal issues.