The effects of the Covid-19 lockdown are proving a challenge for everyone and we do not underestimate those.  There will be some of you who may want to sell your home and move when Government regulations allow; many have been in touch.  So often we find a buyer at the right price, but then the sale stalls for lack of preparation; for example, a buyer’s solicitor unearths a problem with Listed Building Consent or some form of third party rights.  

 

Any delay then causes anxiety, extra work, further costs and sometimes the loss of a sale.  To avoid this, now may be a good time to make your preparations with your solicitor and agent so that when the time arrives to come to market the process will be efficient and swift. We have put together the following check list to aid your thinking; it is a good starter for ten, but not necessarily exhaustive.

 

  • Ensure your solicitor holds a clean Title, clarifying owners and exactly what comprises the sale package.

  • Make a start answering Preliminary Enquiries. Many of these are standard, regarding your property and will certainly be raised.

  • Make a Planning and Listed Building audit if alterations or changes have been made to the house since you have been there. Will you require receipts and/or certification or proof of works?

  • Are there any third party Rights of Way either across or adjecent to your property an dland? How often are they used, and by who?

  • Are there any Covenants in favour of third parties? What is the obligation, to whom and to what extent?

  • Do you own the land right up to the public highway or have unequivocable vehicular and pedestrian access?

  • If you are on private drainage does it need to comply with the new Septic Tank regulations?

  • If on private water or a borehole - a test for quality, quantity and pressure will help those buyers unfamiliar to understand these facilities better.

  • Would your solicitor advise taking out any Indemnity Policies?

  • Provide your solicitor with Proof of Identity of the sellers of the property. Money laundering regulations require proof of address as well as photo ID; the former is best served by a utility bill from the last three months from your current address. Remember to supply for every name on the title deeds.

 

Please communicate early in the sale process with your solicitor and agent and preferably before marketing starts.  If there are things to iron out these are best done then; before a buyer either feels let down when unexpected information is shown up, or feels they have the upper hand in any renegotiations during the run up to exchange of contracts.  

 

Your solicitor will only charge once for his or her time and it will be cheaper, and less stressful, if they can work to their own timescale rather than in a rush to exchange.

 

“Time spent in preparation is seldom wasted!”

 

 

See all images
cotswolds properties

Mrs Tucker June 2020

I have been seriously impressed with your team at Butler Sherborn. Karen and Vanessa have been incredibly helpful and efficient, so huge thanks from me.
— Mrs Tucker, June 2020