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Government issues new guide on how to sell your home

Posted: 13th June 2019   In: Residential Conveyancing

The government has issued a new set of guidelines to help people preparing to sell their home.

The document, How to Sell, was produced by the Ministry of Housing, Communities and Local Government, and covers everything from ensuring your home has ‘kerb appeal’ to making sure you get good legal advice from a qualified solicitor.

People who haven’t sold a property for many years may notice some changes. For example, the law requires professionals like estate agents and mortgage lenders to carry out ID checks on you to protect against money laundering.

The document lists some of the paperwork you will need to complete a sale. Your solicitor will be able to help you make sure they are in order. They include:

The guide covers selling both leasehold and freehold properties and gives some useful advice. For example, it points out that if you are selling a house where the lease has less than 80 years to run, you may need to extend the lease before you sell. This is because some lenders are reluctant to provide mortgages for properties with less than 80 years remaining.

Sellers are also urged to select a good solicitor shortly before they put their home on the market as this will reduce the risk of delays and other difficulties. The guide points out that selling a property involves the transfer of large sums of money so can attract the attention of criminals and financial scammers. Good legal representation can help protect you.

The full guide is available online https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/801076/6.5492_-_MHCLG_-_How_to_Sell_Guide_WEB.PDF

Please contact Eugene Pritchard or Dipak Odedra if you would like advice about the legal aspects of buying or selling a property.

 

Posted by: Eugene Pritchard
Residential Conveyancing
Luton Office