The start of a new year can often prompt the decision to sell your home, with early spring commonly held to be the optimum time to do so.
But if you’re thinking of selling your property, you should consider taking time beforehand to collate all the relevant information about your home, so that when you do decide the time is right to list your home on the market, you will be primed and ready to go.
Being upfront
It’s a recommendation that has been echoed by National Trading Standards - the body which aims to protect consumers and safeguard businesses - which has recently issued new guidelines for upfront information to be provided to a buyer as soon as a property is listed.
The guidelines cover three main areas. In part A, sellers are required to include information at the time of sale such as the council tax band or rate, as well as the property price and tenure information (whether it is offered on a freehold or leasehold basis).
In part B, all basic information that describes the property’s features should be declared. This includes the type of property (for example whether it’s a flat, house, retail unit, detached or semi-detached) and the number of rooms and all information relating to its parking and utilities.
Lastly, part C includes information that is specific to the particular property, such as its flood risk and any restrictive covenants (for example, whether you can convert your garage) which may apply.
Better for Buyers and Sellers alike
There are certainly benefits to getting your ducks in a row before heading to market. Before entering into what can sometimes be a time-consuming and stressful process, you can feel more prepared and organised. This may make the conveyancing process smoother and more efficient.
Getting your facts straight from day one could also speed up the conveyancing process, as you won’t need to scramble around to find this information at a later stage. Your buyer is able to make an informed decision before making an offer, and there is less risk of your sale falling through.
Keeping up with the changes
At Hayward Moon, we would highly recommend you instruct a conveyancing lawyer before you market your property. They can help guide you through the conveyancing transaction and comply with the new guidelines. By being proactive at an early stage, you can help ensure a smooth and efficient start to the conveyancing process and hopefully take the stress out of your sale.
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.