Laura Finnigan, who leads the TSP Residential Property team, discusses what you can do to help speed up your sale if you are selling your property.
If you are selling your property it will help to speed up the conveyancing process if you start filling out your Property Information Form and collating all relevant supporting documents in respect of your property as soon as it is placed on the market. The Property Information Form is a standard form (published by the Law Society) that all sellers are required to fill out when selling their property.
Listed below are some of the documents that the potential buyer will need if they apply to your property; it is important that you supply your solicitor with the originals of these documents:
- Notices or correspondence that affect your property: these may have been received by you from or sent by you to your neighbours or the Local Authority. They may contain information which a potential buyer needs to know before they purchase the property, for example, notification of a proposed development near to your property
- If you have carried out any building work since you purchased your property you will need to provide copies of the Planning Permissions (or Listed Building consents) or explain why permissions were not required.
- When building work requiring planning permission has been carried out you will need to provide the Building Regulations approvals and Completion Certificates for the work.
- If your property has been fitted with replacement windows and/or doors since 1st April 2002 FENSA Certificates and guarantees will be required.
- If your property has been rewired or had any electrical installation work carried out since 1st January 2005 Electrical Safety Certificates and guarantees for the work undertaken will be required.
- If your property has had a central heating system installed since 1st April 2005 a CORGI or Gas Safe Register Certificate and guarantees will be required.
- If your property has been fitted with Solar Panels you will need to provide all of the documents relevant to the installation.
- If your property is less than 10 years old it is likely to benefit from a new home warranty such as an NHBC, Zurich or similar certificate – this should be passed on to the buyer.
- Are any of the trees on your property subject to a Tree Preservation Order? If so, you will need to supply the buyer with all of the documents relevant to the order.
- You must provide the buyer with all guarantees you have received for any of the following types of work carried out to your property:
- Cavity Wall insulation
- Timber Treatment
- If your property has been underpinned you will need to supply the Certificate of Structural Adequacy.
- If you have ever had to make a claim against your home insurance in respect of your property (not fixtures and fittings) your buyer will need all of the relevant details of the claim. This will be to ensure firstly that the claim has been dealt with and secondly so that it can be disclosed to their own insurance company to confirm that adequate cover can be provided.
- If the property is being sold with tenants, you will need to provide a copy of the Tenancy Agreement so that this can be referred to in the contract. You will also need to provide details of the Tenancy Deposit Scheme and Agency Agreement you may have in place with a letting agent.
- If when you originally purchased your property you purchased indemnity insurance of any kind, for example, to protect against the possibility of Chancel Repair Liability, then the Policy(ies) will need to be supplied to your potential buyer also.
As well as the Property Information Form you will also need to fill out a Fittings and Contents Form. Again, this is a standard form (published by the Law Society), on which the seller is asked to confirm which of the fittings and contents are included in the sale. Additionally, if the property you are selling is a leasehold property you will need to fill out a standard Leasehold Information Form.
The original documents and information listed below will need to be provided to the buyer of your property:
- The lease
- Share Certificate
- Latest Service Charge and ground rent receipt.
- Section 20 Notices
- Any correspondence that you have received from the Management Company and/or landlord
- Contact details for the Management Company(ies) and landlord
- Details of Buildings Insurance
As the seller of the property you have a duty to disclose all relevant documents to a potential buyer. If you are unsure about any documents you might have and whether they may be required by your buyer you should discuss them with your solicitor.
Specimen copies of the standard forms published by the Law Society can be viewed on the Law Society’s website here. The ones referred to in this article are:
- Law Society Property Information Form – TA6
- Leasehold Information Form – TA7
- Law Society Fittings and Contents Forms – TA10
To find out more about how the TSP Residential Property team can help you with your sale email firstname.lastname@example.org