Moving house is well known as one of the most stressful things you can do in your lifetime, but before you begin lugging heavy boxes out your front door there’s the challenge of selling your existing home in the first place. If you are soon to begin on the sales process learning how a solicitor will help should take the pressure off:
Taking up title deeds
If your existing property has a mortgage on it, you need to take up the title deeds from your lender. This is something you can authorise your solicitor to do in order to prepare contracts for sale.
A solicitor will draw up contracts once all the relevant paperwork has been received from you and your mortgage lender.
Getting planning permission
Proving planning permission is vital to ensure that a potential purchaser does not pull out of purchase at the last minute. A solicitor can make sure that these documents are in order before you put your property on the market.
Signing the contracts
The signing of contracts is the most important stage of the sales process, as it seals the deal. Your solicitor will get a copy of your contract and title deed to the purchaser’s solicitor on your behalf. The purchaser’s solicitor will then send back for you to sign a duplicate. The vendor’s solicitor will then prepare for closing and obtain redemption figures on the mortgage if applicable.
When selling a property that is not your main residence, you will need to pay Capital Gains Tax. A solicitor can advise on the amount you are due to pay to HMRC.