Do you really think that selling house is an easy affair? Well, the answer is no. Many legal-issues remain associated with house selling and until and unless those issues are not considered the house ownership cannot be transferred legally. If you want to sell house fast for cash then you got to hire any efficient and knowledgeable legal-advisor so that the entangled legal-affairs can be tackled.
Top 10 legal issues involved in house selling
Ways of house-selling
Auction and private treaty are the two prominent means of house-selling. You should ask your solicitor to provide you sufficient knowledge on both these ways so that legality can be maintained.
Having mortgage or not
If your house mortgage is not over yet, then you got to ask your lender to provide title-deed authorization certificate along with sale contract so that the house can be legally transferred in the name of the buyer.
Sale contract preparation
If you are putting your house on action for sale, then your solicitor should prepare a sale contract for the safety of their clients. Title-documents need to be prepared in a legalized manner so that the bidders can verify the same before going ahead. Even in case of private-treaty, this contract needs to be prepared.
Planning regulations need to be abided for obtaining the planning-certification from the architects. This certificate is sometimes termed as architect’s certificate. Similar kind of approval is needed in case of property development as well.
In case of family-home, joint ownership is being experienced. Here, both the joint-holders should give their consent and then only the process of house-selling can be completed successfully. In this respect, laws under Family-Home-Protection-Act 1976 are applicable.
Contract signing and closing
The solicitor will make a detailed inspection of property-tile so that the clients can enter into house-selling contract easily. Both buyer and seller should abide by all the mentioned norms and conditions of the agreement and then only the process can be legally completed.
Selling and buying simultaneously
A perfectly binding-contract needs to be created by your solicitor if selling and buying of house are taking place together.
If you are intending to sell-out your existing house for a new one then you have to employ a proper lender. The lender will be responsible for creating such a legalized agreement where house-selling and home-buying processes can be connected well
House selling and taxation
Revenue commissions will charge you with capital-gain tax if you sell your home. The amount is decided on house-valuation and this amount will help you gaining capital-gain taxation certificate. In case of higher buying-cost, you should provide PPS-number to your solicitor.
House selling cost
solicitor’s fees and auctioneer’s fees are the two main costs involved in house-selling. A certain portion or percentage of buying-cost will be charged for avoiding process hiccups. You might receive cost-concessions in this respect if you are fortunate enough.
If these above issues are resolved, well then only you can sell house fast for cash peacefully. Your legal-advisor will guide you in a potential way for conveniently executing the house-selling procedure.