If you’re thinking of selling your home, then you’ll most likely understand that there are numerous procedures and steps that will need to be taken before the property is even put on the market.
Of course, most of these procedures will involve a vast amount of paperwork and documentation to complete. Some of the paperwork is straight-forward, however, some may not be as simple. Whilst selling your home might seem overwhelming, Open House Leicester are on hand to ensure that you’re in a good position to sell your house fast!
In this article, we talk through the six rules and regulations you should know about before you sell.
1. Proving Your Right to Own the Property
When selling your property or land, you’ll need to prove that you have the right to put it on the market. Property Title Deeds is a legal document officially registered by HM Land Registry which displays who owns a property or has a right to it, which your solicitor will need to request to view. All records of Property Title Deeds are now stored digitally, rather than in a paper format.
If you can’t find these documents, you should be able to get them from the solicitor you used at the time of buying your current house.
2. Law Society Fittings and Contents Form (TA10)
The Fittings and Contents Form (TA10) outlines which items or appliances are included within the sale of your home. This could include kitchen appliances such as a fridge freezer, dishwasher or tumble dryer, or even exterior items such as sheds, greenhouses of any other outdoor furniture.
This is particularly important with items that the new homeowners would be using as soon as they move in, for example, white goods or wardrobes.
The form will need to be filled out room-by-room so that all parties are aware of what is included. This is so that the new homeowners are clear on what will need to be purchased ahead of the move, to make the process as smooth as possible.
3. Property Information Form (TA6)
The Property Information Form (TA6) provides as much detailed information as possible about your property for the benefit of the new buyer. The form discloses information such as building alterations made to the property, parking arrangements, responsibilities the new owner will have (i.e. maintaining the garden or general safety upkeep), home insurance information and any other arrangements.
Another important area that the Property Information Form covers are any continuing disputes with neighbours or local antisocial behaviour that the new buyers should be aware of.
Whilst the questionnaire is 16 pages, it is a legal requirement for you to fill out and should be completed with honesty and truth. If information is withheld or inaccurately provided by yourself, the new owner has the legal right to claim compensation. This is why you should take your time filling out the TA6 form without rushing it.
4. Apply for an Energy Performance Certificate
Before putting your home on the market, you will need to apply for an energy performance certificate from a Domestic Energy Assessor.
An energy performance certificate (EPC) is a compulsory document that will need to be applied for and produced when selling a home. The certificate will rank your property in relation to its energy efficiency. Not only will the certificate show a potential buyer how energy-efficient the home is, but also an indication as to how much the property will cost to run. The better the rating, the more cost-effective the home will be to run.
The great thing about an Energy Performance Certificate is that it can tell you ways to improve energy efficiency and how more money can be saved in running the property. This might include improving the loft or home insulation, which can boost your energy efficiency – therefore attracting more potential buyers.
As the certificate lasts for 10 years, once you have it finalised on your property, it won’t need to be repeated for a long time.
You can register for an Energy Performance Certificate here.Alternatively, we can also arrange EPC’s for you, issuing them to a vendor prior to going on the market.
5. Carrying Out a Property Survey On Your Next Property
A property survey shows the condition of a property as part of a detailed in-depth inspection. The property survey would be completed by a surveyor who inspects the property and identifies issues including structural problems or outstanding major repairs, including unstable walls or flooring, problems with the roofing, electrical faults and even issues with damp or mould.
After the survey has taken place, you’ll receive a report which highlights all physical issues with the property as well as potential issues that are soon to arise. The report will also show a simple traffic light system whereby different parts of the home is considered as no area for concern (green), non-urgent defects which should be brought to attention (amber) or urgent issues which should be repaired immediately (red).
It’s recommended that you should use a surveyor accredited by the Royal Institution of Chartered Surveyors (RICS).
If you’re selling a property in Scotland, you may be required to apply for a Home Report, however, this doesn’t apply to properties registered in England and Wales.
6. Property Conveyancing
Conveyancing is the legal transfer of a property from one homeowner to a new owner. A conveyancer helps with the settlement by ensuring that all needs have been met and that the contracts are ready to go ahead.
They will go through all paperwork with a fine-toothed comb, deal with payments of the property deposit and handle the change of ownership once your property has been sold.
Conveyancing is one of the most important processes when selling your house as this is when the exchange of contracts takes place, as your conveyancer can offer you legal advice every step of the way.
We are committed to supporting you on your selling journey, that’s why we recommend local solicitors that we have previously worked with.
Contact Open House Estate Agents Leicester for More Information
If you’re not sure how to go about letting your property or you’re concerned about the amount of red tape involved, get in touch with Open House Estate Agents. Open House Estate Agents Leicester are a leading estate agents and we have many years of experience handling issues such as tenancy eviction, tenancy agreements, tenant and landlord rights, and much more besides.
We regularly advise landlords about the correct processes involved in letting out a rental property. We’re here to help you, as a landlord, to experience a seamless landlord/ letting experience from the very beginning.