When you decide to sell your property, you must understand that there is a huge amount of paperwork to get through so the earlier you start, then a sale is less likely to get held up. When you are selling a property, the title deeds must be transferred from you to the new purchaser and this requires a conveyancing solicitor to prepare the necessary paperwork and contracts, to ensure the legal side of the transaction runs smoothly. The risk is that, sometimes, sales fall through as purchasers are unwilling to wait for delayed contracts or complicated/unresolved title issues. For property sellers, it is certainly in your best interests to be organised and efficient in order to be able to sell your property in a prompt manner. Conveyancing changes introduced earlier this year by the Law Society of Ireland mean that your solicitor ought to prompt you to get the paperwork in order at an early stage.
Title Deeds are the most vital pieces of paperwork you will need when selling your property. This is the term given to the collection of individual documents that prove your ownership of the property in question and your right to sell it. Title deeds are usually in the hands of the bank, unless you are mortgage free, in which case they ought to be held in a fire and flood-proof safe. If those deeds are held by the bank as security for any mortgage/lien on your property, it will take some time to gather them as they are held off-site. A solicitor will require your authority (in writing) to request the deeds and there will be a small fee. When you are selling a property, the title deeds must be transferred from you to the new purchaser so again, it is vital to get them in order. In terms of when you should start preparing, the best advice we can give you is, the sooner the better. Keep in mind that it could take 3-5 weeks for your bank to provide the title deeds to your solicitor so they can issue contracts once the sale has been agreed and progress the paperwork.
The BER certificate is another consideration for vendors hoping to sell their property. A BER certificate and report is basically a document confirming your property’s energy efficiency rating and as it is illegal to market a property for sale without it, this is something you should arrange as soon as you are considering selling. A BER certificate can cost in or around €100 – €150 and if you are unsure of who to engage, contact any of the team at Kinsella Estates to refer a reputable assessor.
If your mortgage has found itself in Negative Equity you will likely be required to get permission from your bank to sell. The issue is that, an agreement must be made to figure out how the negative equity part will be covered once the sale of property is finalised. This is a prolonged process so it is essential that you get bank consent as early as possible.
Planning documentation must be provided to show that the property you are selling – and recent additions/extensions – were built in accordance and compliant with planning permission. This is obtained from an architect or an engineer in the form of a certificate and any issues need to be resolved prior to the sale of the property.
A Declaration of Identity may be required if your property is located in a rural area or it is a ‘one off’ home on its own site. Again, like the planning documentation above, the declaration will need to be signed off by an architect or an engineer. The document will confirm that the site and its services are contained within the map as attached to the title deeds. Failure to have this available could result in major delays in the sale process.
Subjective paperwork like marriage certificates, civil partnership registrations, death certificates, divorce or separation papers all need to be provided, if applicable. Depending on your current situation, this may mean a tremendous amount of submitting of documents or very little. Often times, conveyances can be delayed over relatively minor issues like lost property tax or NPPR payment receipts so organisation and early preparation will take the stress out of the conveyancing process.
For your FREE, no obligation, valuation in the South Wicklow and North Wexford area, call into one of our offices (located in Carnew and Gorey) and chat to any of our expert team or you can contact us online at www.KinsellaEstates.ie. We are happy to facilitate overseas buyers and sellers via Skype or similar, outside of regular office hours. Alternatively, email me directly on firstname.lastname@example.org or telephone: +353 53 94 21718