Selling your home can be an overwhelming experience. Finding a good estate agent, sprucing up your property and organising viewings are just a few aspects that need to be considered.
And then there’s the paperwork…
If you’re planning on selling your property, you’ll need to complete several documents. Some of these are fairly straightforward and some are a little more complex.
“But what are the correct documents?” we hear you cry. Well, here is a guide to everything you will need:
Proof of your identity
You will need to provide your solicitor with proof of your identity. This is usually proof of your current address, such as a recent utility bill and photo identification like a passport or driving license. Other identification documents may be accepted so check with your solicitor or conveyancer beforehand.
The reason proof of identity is needed at all is due to anti-money laundering rules. Solicitors, conveyancers and estate agents are all covered by these rules, and they must hold this evidence for five years. The documents are destroyed five years after they are no longer required.
Property title deeds
You may or may not have the property title deeds for your home. If you can’t find them, don’t fret; you’ll probably be able to obtain a copy from the solicitor you used when you initially applied for a mortgage or bought your existing property. Furthermore, your current solicitor will need to obtain official deeds from the Land Registry anyway.
If your property hasn’t been sold since 1986, the Land Registry likely won’t have a copy, unless you voluntarily registered it. This means you’ll have to find where the title deeds are. In some cases, they may be with your mortgage provider, or they may be with your solicitor.
If you cannot find them at all, you will have to apply for a ‘Title Absolute’ from the Land Registry. This involves proving that you are the legal owner of the property and that you have a right to the freehold and the structures on the property. You will also need to show that you’ve had possession for an unbroken period of 15 years; if you can’t prove this then you may want to contact the Land Registry for help. A ‘Title Absolute’ requires a lot more documentation, so you’ll need to apply for it well in advance of selling your property.
Shared freehold documentation
If your home retains a share of the freehold, the relevant documents related to the freehold structure will be required. Alternatively, if your home is leasehold, you’ll need to have a copy of the lease and fill in a seller’s leasehold information form.
Allow several days or weeks to get any leasehold information, as it’s dependent on the managing agent or the landlord being efficient. It’s always a good idea to inform the person responsible for leasehold information in advance to avoid any potential hold-ups.
Energy Performance Certificate
The Energy Performance Certificate needs to be included when you sell your property. This certificate is an assessment of the energy use of your home and its CO2 impact. If you don’t have an Energy Performance Certificate dated within the last 10 years, you’ll need to acquire one from a qualified assessor. This can be done via your estate agent.
If you’re in Scotland, you need a Home Report, which needs to have been produced within the last 10 weeks. The only exceptions are if your property has been continuously marketed since a valid one was last produced, or if it’s a new build or conversion and hasn’t been lived in since it was built or converted.
Management information pack
If you pay any service charges or if your property is leasehold, then you may need to send off for a Management Information Pack (also known as a Leasehold Information Pack). You or your solicitor can arrange for this via the freeholder or managing agent, and it’s worth doing this as early as possible as it can sometimes take a while for them to be processed and sent out.
If you have been in a leasehold for more than two years, it may pay to extend the leasehold, as this could significantly increase the value of the property. Leaseholds that have less than 82 years may be worth much less than leaseholds with less than 85 years to go. This is because landlords can charge extra for the increase in value (a marriage fee) that a leasehold extension will give. In addition, many mortgages won’t cover shorter leaseholds.
Fittings and contents form
The fittings and contents form, otherwise known as TA10, details what is included with the sale of your home. Items on this list may include the garage, shed, plants, trees, and indoor items in the sale. Both you and the potential buyer should be clear about what is included in the property price as this will prevent delays further down the line. It also reduces the risk of the buyer pulling out.
Property information form
The property information form, or TA6 as it’s also known, is a detailed look at your home. Any documents noted in this form need to be provided so ensure you have copies. This may include a Buildings Regulations sign off or a Fensa Certificate for replacement windows. The property information form (TA6) covers:
- Boundaries – who is responsible for any hedges and fences, and where the boundaries of the property lie.
- Complaints – any continuing disputes with neighbours.
- Proposals – notices regarding further development in the local area. Letters may be from the local authority or neighbours.
- Planning – this includes any alterations and building work that has been completed or is ongoing. For example, new windows being placed on an extension.
- WarrantIes – this covers any guarantees or warrantIes currently on the property, such as solar panels.
- Insurance – you should provide details of how much it would roughly cost to insure your home and any irregularities.
- Environmental matters – this covers any flooding risks as well as your eEnergy Performance Certificate.
- Parking – does your home have a driveway or a garage for parking purposes? This section covers all parking related matters.
- Services – note the condition of the services within your home, including the condition of the boiler, heating and electrical wiring.
- Occupiers – state whether there are any current tenants living in the property and if they will remain after the property has been purchased.
- Connection to utilities – this section covers the location of meters within your property, including water, electricity and gas.
- Other charges – this relates to lease costs if your home is leasehold and other costs, such as maintenance fees for flats or a gated residence.
- Transaction information – this section is for information regarding moving dates, special requirements related to moving and if you intend to purchase another property.
Much of this information is provided by local authorities, although the amount of time it takes to get the information varies widely from 24 hours to a month. As more and more local authorities move to automated searches, this time should fall drastically.
Above: The first page of the TA6 ‘Property Information’ Form
Mortgage details
You’ll need to provide information on your current mortgage, including your account details and the amount that is still outstanding. You’ll also need to provide details of any additional loans or charges registered to your home.
These charges will usually be listed on your title deeds. If you still have charges from a previous mortgage provider, you will need to contact them to get them removed.
If there is a charge outstanding, you’ll need to sign an undertaking. This is essentially a promise that you’ll use the money to pay off the mortgage and that the buyer doesn’t have any liability regarding the mortgage. Without the undertaking, the buyer may become liable for the charge on the property.
Acceptance of offer
After you have agreed a sale with a buyer, a document stating the acceptance of the offer will be drafted.
You’ll also be required to sign a Transfer of Deeds ready for sale completion. This will be overseen by your legal representative and the contracts will need to be exchanged with the buyer. The contract will include the sale price, when the sale will be complete, as well as any legal restrictions.
Once the contracts have been exchanged and signed, the sale becomes legally binding, meaning that if one party withdraws, financial compensation will likely have to be paid. You may also require confirmation of stamp duty from your solicitor if your property is over a certain value. This is usually within 30 days of the completion date.
It’s ideal to keep in contact with your solicitor or conveyancer during this time so you’re up to date with the finalisation of the property sale.
