Is slow, stressful, complicated and obtuse; hence preparing your property for sale is very important and by this, we are not talking about de-cluttering it, cleaning it or doing some gardening.
After an agent has marketed your property and has a bidder with an offer you are willing to accept, your property will have the status sale agreed. The buyer can pull out and get their full deposit back until the contracts are signed; so not have the deeds and the contracts mean you are adding time onto the sale transactions and thus you are introducing additional risk as things may change in this period.
Before the purchaser’s solicitor asks for them and as a seller yourself, you should:
1. Ascertain the location of the Title Documents. If they are with the bank, you should complete an authority to take up from the bank.
2. Get your solicitor to copy the deeds and prepared to issue.
3. If the Non-Principal Private Residence Tax is due, pay it. If it is paid, retain the receipt.
4. Get a certificate of Discharge or Exemption from the NPPR. A receipt alone is not sufficient.
5. Get the Certificate of Discharge from Household charge.
6. Local Property Tax – LPT Account I.D. & pin. Print the LPT Account for closing.
7. BER Certificate and Advisory Report is required to satisfy The European Union (Energy Performance of Buildings)
8. Plans and planning for any extensions or substantial work carried out to the property.
Architect’s Opinion on Compliance with Planning Permission and with Building Regulations.
A Financial Contributions Letter. Retention/Retrospective Opinions, if appropriate.
9. PRA Compliant Map, Registry of Deeds/Title, Land Registry Compliant Map. Any maps on prior title deeds for comparison. Boundary Issues
10. Are you going to pay off a mortgage? (You may need to consider redemption costs to pay down your mortgage early)
11. Cross security.
Is the mortgage charged for another loan which is required to be paid? Do you have negative Equity? If so, the Bank may need to consent to ‘Net Sales Proceeds’ – Agent Fees, Legal fees but also, you need to watch for unpaid NPPR, LPT, Service Charge Etc.
12. Is your property part of a management development or estate[OMC]?
If so you need to get a requisition from the OMC. • Request replies to MUDs Act Queries as soon as possible.
13. Any Service Charge Arrears as they will need to be paid.
14. Are there any Management Company issues such as no sinking fund?