Material and Upfront Information is the Key to Success

Selling a house can be both an exciting and daunting task!   Whether you are thinking of upsizing, it’s time to downsize, an inheritance has left you with a property to sell or it’s simply the right time for you to make that move, it's essential to put a little thought into the selling process at the start to ensure a smooth and successful transaction.   

Here are our top tips for sale success!

The chances are your property is registered at HM Land Registry and probably has been for many years.  However, if you are selling a property that has been in the same ownership for many years (most often the case when inherited property is being sold), it is possible the property could still be unregistered.   What this means is that title to the property will still be proved by way of paper deeds and documents.  

It is very important to find the deeds – normally these are kept safely by a law firm or bank, but it is possible they will be under the bed!   Retrieving the deeds ready for sale will save you time down the road.   Your conveyancer will need to be in possession of the original deeds and documents in order to sell the property.   If you are not sure whether the property has been registered, your conveyancers can very quickly check for you, it is also possible to look on the HM Land Registry website and check yourself. 

If works have been done to your property, or you were passed certificates for works previous owners carried out, it is important to gather this information together to give to your conveyancer. 

Being able to supply all the certificates at the start of the transaction will hopefully mean less enquiries are raised, which makes for a speedier transaction! 

It’s a very long list, but some examples of the kind of works a buyer will want to see evidence of include:

-          Replacement windows

-          A new boiler 

-          Re-wiring works 

-          A lovely new Conservatory!

An Energy Performance Certificate is a legal requirement when selling a residential property in England and Wales.  The EPC is valid for 10 years and rates the energy efficiency of the property on a scale from A to G, with A being the most energy-efficient.   It is very likely that your chosen estate agent will arrange for this to be undertaken but it is worth knowing about. 

Do consider whether any repairs or renovations are required before putting your property on the market. By addressing these issues before the property goes on the market you can make it more appealing to potential buyers and possibly increase the value!

Selling a property in the UK is a complex process and it is very important to find an experienced Conveyancer who will guide you through the transaction which essentially involves transferring legal ownership of the property from the seller to the buyer.  It is always wise to obtain more than one quote for conveyancing services.  Don’t be afraid to ask questions, you should expect a telephone call to discuss your requirements, first impressions do count, and basing your decision on costs alone is not always the best option in the long run!  

Although it is possible to sell your property privately, most sellers choose to use an estate agent.   Estate Agents fees are generally paid at the time of completion and these are typically a percentage of the sale price.   Look for agents with a proven track record in your local market - always obtain more than one valuation, don’t be afraid to shop around and compare fees from different agents to ensure you are getting a fair price.

Capital Gains Tax may be a consideration if you are selling a property that you don’t live in, and/or if you live abroad.   Speaking to a specialist tax advisor can help you work out whether any tax might be payable. 

There are a number of standard information forms which will have to be completed by you as the seller, these are briefly:

-          Property Information Form – provides buyers with extra details about the property, such boundary maintenance, parking, disputes or complaints with neighbours, and also asks about building work or renovations.

-          Fittings and Contents Form – forms part of the contract and you must take the time to complete this fully and accurately, it lists all items which are included in or excluded from the sale  -  such as floor coverings, appliances and light fixtures etc.

-          Leasehold Information Form (for use when property is leasehold) – this form deals with how the Building is managed, levels of service charge/ground paid and asks for information about any upcoming repair work etc.

These forms are quite lengthy and will take some time to complete properly – fully completing them at the outset will reduce the number of enquiries the buyers’ conveyancer will raise.

Whilst boundary disputes are rare, it is very important that any disputes with neighbours are resolved before contemplating selling your property.    

Your buyers’ conveyancer will want to ensure that the property’s boundaries are clearly defined.  If there are any concerns in respect of the boundaries, asking your conveyancer to check the title deeds at an early stage, or even commissioning a survey could help a sale to proceed more smoothly.

Please note this article is provided for general information purposes only to clients and friends of Hayward Moon Limited. It is not intended to impart legal advice on any matter. Specialist advice should be taken in relation to specific circumstances. Whilst we endeavour to ensure that the information in this article is correct, no warranty, express or implied, is given as to its accuracy, and Hayward Moon Limited does not accept any liability for error or omission.