Moving home is an exciting time whether you are a first-time buyer looking to get a foot on the property ladder or an existing homeowner looking to trade up, downsize or relocate. But along with the excitement there will be a lot of work to do to get you ready for moving in day. Part of that work is the legal process of transferring ownership of the property into or out of your name.
If you are buying a property, you will need to make sure that the seller is entitled to sell, that what you see on the ground matches what the property ownership records say and that there is nothing about the property or the surrounding area that you should be concerned about or which may affect your decision to buy.
If you are selling, you will need to provide proof of ownership to the buyer, answer any questions they have and possibly agree to take out insurance if a problem is identified with cannot be remedied, for example doubt about your right to use an access road leading to and from the property.
For buyers they can:
- check that the seller is entitled to sell and that they own everything being offered for sale;
- check whether anyone other than the seller is living at the property and if so get their agreement to leave as soon as the sale proceeds;
- carry out searches to check for potential problems, such as a history of flooding or subsidence, breach of planning rules or plans to build a major road nearby;
- check that your financial arrangements are in order, including any mortgage you may be reliant on;
- set a timetable for completion which ensures any related sales or purchases linked to your transaction all complete on the same date;
- prepare the property transfer papers;
- advise you on the costs and expenses you will need to pay, including stamp duty land tax if applicable; and
- register your ownership of the property with the Land Registry once the purchase completes.
For sellers they can:
- obtain the evidence needed to prove your entitlement to sell and that you own the property and any land around it;
- where such evidence cannot be obtained, for example because you have no legal documents proving your ownership, advise on the likelihood of you being able to apply to the Land Registry for recognition of your ownership rights based on the length of time you have occupied the property;
- deal with any other queries raised as a result of the buyer’s searches;
- advise you on your options if the buyer seeks a price reduction because of an unexpected problem;
- ensure the transfer papers are in order;
- complete the transfer and settle any outstanding mortgage; and
- advise you on the costs and expenses you will need to pay, including capital gains tax if selling a second home or investment property.
Advising individuals throughout Kent and beyond
We have offices in Maidstone, Gravesend, Chatham and Tenterden where we can meet you to discuss your requirements.
We can also offer meetings at your home if necessary, and in exceptional circumstances a telephone appointment can be arranged via skype.
The cost of buying or selling a property will vary depending on your circumstances. We are happy to provide a quotation after discussing your requirements.
Get in touch
If you need to buy or sell your home, please get in touch to see how we can assist. You can call us on 01474 351199 or use our contact form and we will call you.