Want to sell your property? Dont forget the Legal Bits!

Selling your home legal requirementsOnce you’ve settled on selling your home, spruced up the areas that might put potential buyers off, and made a mental note to brew coffee, bake bread, and have fresh flowers in the lounge whenever you have a viewing, it’s worth spending a little time just double-checking that you’ve taken care of essential legal issues as well as the more domestic aspects of selling your property.

Get it in writing

Although written agreements between vendor and buyer aren’t necessarily legally binding, it’s a good idea to have a physical record of projected exchange and completion dates, and any other important sundries, such as what items are being left (including carpets, curtains, fittings, any white goods, and garden furniture), and any work you have agreed to have carried out before the sale is completed.

Are we getting warm yet? Energy efficiency

As of 9 January 2013, it’s a legal requirement to provide an Energy Performance Certificate rating on all written material regarding a property for sale, and even on the advertisement. Valid for 10 years, the certificate has an A to G rating system, with A being the most efficient, and G the least, and must be available for potential buyers to look at within a week of the property being put on the market. Trading Standards will find for non-provision of an EPC, so don’t fall into this trap.

Although you should guard against any work being done by the buyer in your property between exchange and completion, there are financial penalties for withdrawing from the purchase at this point, and, with legal advice, this should be entirely at your discretion. Buying and selling property is a high-stress situation, and making sure you’re on the right side of the law takes a lot of pressure away from you.

Estate agent, or go it alone?

However much you might like the idea of marketing and selling your property yourself, the right estate agent will take a lot of the worry away from you, especially in regard to a fair valuation, advice on negotiation, and dealing with potential purchasers. They will also be able to advice on suitable surveyors, conveyancing solicitors, and insurers, all of which you will need to successfully complete your sale.

Bio: Jenny Wells works on behalf of Martin and co Purley the country’s leading letting agents, Jenny enjoys sharing tips on the best ways to manage properties and the best actions to take in terms of property investment.

Sally Ritcher is a reader, writer and expert advisor on anything to do with saving money and general tips in relation to anything entrepreneurial.
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