SELLING YOUR HOME – PROPERTY SOLICITORS – GET A QUOTE TODAY.
To ensure the sale of your home goes as smoothly as possible, it is essential that strong organisation is at the top of your list.
Property Solicitors Cork and Dublin
We have found that certain times of the year are most popular for selling properties and the early Autumn is when most listings seem to appear. The children have returned to school and the long summer days are almost at an end. Whether you are selling your primary place of residence or a property that you have invested in, you will find that selling a property is something most of us will experience at least once in our lifetime. We have provided some essential tips to ensure that this experience is as stress-free as possible.
1. To avoid any delays, it is important to locate your title deeds in advance of any sale. The most likely scenario is that the title deeds are held by your solicitor or mortgage holder. For those of you who have paid off your mortgage in full, it is still possible that your bank or mortgage holder still has possession of the documents, so make that call early and have the deeds in place ready for transfer to the new owner. If your property is in negative equity you will need to get written permission from your mortgage holder to sell the property. This written consent should be requested as soon as you decide to sell your property as it can take a number of months to arrive.
2. Your solicitor should be instructed to review your title deeds prior to any advertisement of sale. This is advised to ensure that any issues are addressed early in the process. Issues can include unregistered rights of way, mapping errors or problems with planning permission. Providing the new owner with a clean title deed is vitally important to all involved.
3. If you have extended or altered your home in any way that required planning permission, this planning documentation will need to be provided to your solicitor. The purchaser of your home will also need to be provided with all and any certificates of compliance, building regulations and planning permissions. Initially you will need to provide this information to your solicitor, they will review and advise you on any further steps you need to take. The reason we have this paperwork in order pre-sale is to ensure the potential buyer has all the information they need to make an informed decision. If this documentation has been neglected and the buyer discovers a discrepancy, they may withdraw from the purchase. This can be an expensive waste of time for all involved. If your property was constructed before 1964, planning documentation is not necessary. For all homes or properties constructed after this date, certificates of compliance, building regulations and planning permission will need to be provided as evidence of compliance. For any extensions to your property that are exempt from planning permission, a certified engineer will need to confirm and certify this. Any parts of your home that were altered and for which planning permission was not sought will need to be retroactively dealt with e.g. Velux windows. Retention permission may take up to three months to complete.
4. All maps of your property should be checked for accuracy. Maps of your home will need to reflect accurately the property for sale.
5. You should always speak with your accountant or tax consultant prior to selling your home. They will advise you on any capital gains tax that you may potentially have to pay upon completion. Capital gains tax is calculated based on the value of the property and the value when the house was originally purchased.
Selling your Home, Lawyer, Cork
6. If you are including the contents of the house with the sale, it is important to make an inventory of all items and keep this with your solicitor. This list will be used to ensure there are no disputes at a later date.
7. For those of you who are selling a rental property, it is vitally important that you serve your tenant with a valid notice of termination and give them sufficient time to make alternative living arrangements. If you are selling the property as a going concern and the tenant is staying in the property, you will need to hand over their deposit to the new owner as well as all paperwork relating to the tenancy agreement. This paperwork should include RTB registration and any apportionment of rent agreed.
8. Property tax paperwork should be given to your solicitor along with any receipts or statements you have for the household charge, property tax and non-principal private residence charge. Should you have a septic tank on the property, this will need to be registered with ‘Protect Our Water’ if not done so already. All of this information needs to be provided to your solicitor prior to any sale.
9. In many instances, homeowners will be selling their home and buying another property at the same time. This can be a tricky juggling act so it is important that you are working with a solicitor who has great experience in this area. We find that securing a binding contract for the purchase of your new home is normally the most important first step. Some buyers and sellers may wish to sign a purchase contract for their new home based on the sale of the old property going through. There is no pressure to have both purchase and sale go through on the same day as this can add to unnecessary stress and last minute delays.
10. Organisation, organisation, organisation – the key to selling your home in the most stress-free and smooth way. Get your paperwork in order as priority and then look at getting your home on the market.
Get in touch with Walsh and Partners Solicitors to learn how we can make the sale of your home as seamless a transaction as possible.