Selling a property can be a complex process, with plenty of paperwork and documentation required to complete the process. A good solicitor can help to ease the sometimes stressful process, and make it much easier to understand what is happening, why and what to do next. Today we’re reviewing what paperwork might be needed to sell your property to help you get a head start.
Proving Your Identity
Before starting the process of selling your property, law requires all real estate representatives, solicitors, and mortgage lenders to verify your identity. Birth certificates, passports, and driver’s licences are just a few examples of acceptable documents you might use to prove your identity.
Title Deeds
Title Deeds act as proof of a person’s legitimate ownership of a property. Frequently, your mortgage lender and/or solicitor will store them. Some individuals refer to these records as “land registry” documents.
You might not require your original title deeds paperwork if your house is listed with HM Land Registry. The documents may be scanned and kept indefinitely by the Land Registry and they will usually provide you a copy of these documents if you send them form OC1 and a small fee.
In some circumstances, you may be able to sell your home without the deeds, but you will need to be able to demonstrate your ownership of the property through other means.
Energy Performance Certificate (EPC)
If you are selling a property, it’s a legal requirement to have a valid Energy Performance Certificate. A domestic energy assessor can carry out the evaluation on your behalf and issue a certificate that is valid for 10 years, providing the score of your assessment is good. It will inform you of a property’s expected heating and lighting costs as well as its carbon dioxide footprint. Certain property categories are exempt from EPC requirements, which a conveyancing solicitor would be able to advise you on.
Fittings and Contents Form (TA10)
The Fitting and Contents Form shows a potential buyer what is and what isn’t included in the sale of the home. It outlines exactly what the seller will be leaving behind when they depart.
This form covers fittings and contents only, not fixtures. Fixtures are by definition, things which are fixed in places, for example, flooring or toilets. These are expected to be included in the purchase price for the buyer, and not removed.
Property Information Form (TA6)
The seller will use this form to provide the potential buyer with specific information about the property. This includes a wide range of topics, including parking, property issues, changes to the land, and the boundaries, just to name a few. It is imperative that you complete this form completely and accurately. You risk breaking the Misrepresentation Act of 1967 if you don’t fill out the form completely and truthfully.
Please note that if the property being sold is leasehold then the required form is a TA7.
Alterations and extension documents
If you’ve had extensions or major alterations to the property, it’s important to have any documents related to them ready. A prospective buyer will want to know that the work carried out was to regulations and proper planning permissions were granted.
Management Pack (LPE1)
A management company will probably be involved if you’re selling a leasehold property. The freehold, as well as any shared facilities, will likely be managed by them.
In exchange for a fee paid by the seller, they are accountable for delivering a management pack to the conveyancer of the buyer when selling a property. Any conditions and costs that must be met before the transaction can be completed are described in these packs.
Formal Acceptance Letter
After you accept an offer on your property, your solicitor should produce a formal acceptance letter that states the agreed-upon price, the entry date, and any amendments to the offer that were required.
In Conclusion
While this page is pretty extensive, it doesn’t cover everything, as there are many unique nuances to property law, which can vary from case to case. Should you need support and advice on conveyancing, please don’t hesitate to get in touch with Alsters Kelley today.
Sources
Please click here for your instant conveyancing quote.