4 Things to Avoid As You Prepare For Property Sales Conveyancing

Property Sales Conveyancing

Property Sales Conveyancing

Setting a property is often revered to as being one of the most stressing things in life. However; this does not need to be an unusual occurrence. Avoid making the mistakes listed below and you will guarantee that you have a stress free property sale.

I Do Not Need To Tell Them ThatProperty Sales Conveyancing

If the interested buyer asks questions concerning your property, answer the questions asked honestly. For example; you will be needed to fill a sellers’ Property Information Form. The form will ask certain details including:

  • The boundaries you maintain on the property
  • Any existing disputes with neighbours

When you fail to answer the queries above, you are likely to jeopardise the sale later. Equally; you are liable to the buyer for holding back info, or for providing info that is not honest.

Capital Gains Do Not Apply

Usually, you are not required to pay Capital Gains Tax on your house sale. There is a certain exemption that covers private residence. That said however; if you are selling off a home you do not reside in, (a second home), you may be required to pay the Capital Gain Tax.

I Don’t Wish To Move Out Till Until After the Completion

The contract you sign states that you have to vacate the premises on the completion date. The law dictates that you need to vacate the premises by around 2 pm on completion day. But it’s even better if you vacate the residence by 12 noon.

As you move out of the property physically; you have to take out furniture and leave the property clean and tidy.

I Have Vacated the Property, and It’s Still Insured Fully

An empty property is wrongfully assumed that so long as the building insurance policy remains, all circumstances are covered. That said. However, it’s very standard with many insurance firms that certain risks are excluded after the property remains empty for more than 30 days.

Case in point; risks including burst pipes, vandalism are excluded from the cover. It’s up to you to warrant that such risks are covered by the insurance policy, in the event the property remains empty.

To avoid unnecessary problems or complications as you sell-off the property, see to it that you’ve appointed experienced local residential property conveyancing solicitor. Be honest with them and open. In addition, don’t leave anything to chance.

If you haven’t the clue what to do or what may take place, consult with your appointed solicitor. If you are deliberating selling your home, see to it that you speak with one of our experienced property sales conveyancing solicitors.