Selling a property can be a complex process, but with the right preparation you can avoid common delays for a smoother transaction. The below sets out a number of common delays that can occur when selling a property and how they can be avoided:
- Appointing a solicitor and obtaining the title deeds for the property
A solicitor cannot begin drafting the Contract for Sale until they have the title deeds for the property. If there is a mortgage on the property, then the bank will usually hold the title deeds and will have to release the title deeds to your solicitor. This process can take time and any delay with the title deeds being released will ultimately delay contracts issuing to the proposed purchaser. In order to avoid this delay arising, you should appoint a solicitor as soon as you decide to sell the property so they can send in their request to the bank for the title deeds as soon as possible.
- Land Registry Compliant Map
If the property you are selling is registered in the Registry of Deeds, you must furnish the purchaser with a Land Registry Compliant Map of the property in order for the purchaser to register the property with the Land Registry once the sale is complete. A copy of this map must be furnished to the purchaser’s solicitor with the draft Contract for Sale. Therefore, the sooner your solicitor has sight of the title deeds, then the sooner they can advise you as to whether a Land Registry Compliant Map is required.
- Architects Opinion on Compliance with Planning Permission/Exemption from Planning Permission and compliance with Building Regulations
If you have carried out works such as an extension, attic conversion, widening of the driveway etc., to the property then you must furnish the purchaser with an Architects Opinion on Compliance confirming that the said works were built in compliance with Building Regulations and in compliance with the relevant planning permission or exempt from planning permission. If you do not already hold an Opinion on Compliance for the relevant works, then you must obtain same from an Architect as soon as possible as a copy of the Opinion must be furnished to the purchaser’s solicitor with the draft Contract for Sale. As such, you should advise your solicitor at the outset if you have carried out any works to the property since you acquired same.
- Local Property Tax (LPT)
You must furnish the purchaser with a LPT History Receipt showing the relevant property value band that the LPT has been paid in for all years from 2013 onwards. Where the agreed sale price is over 25% of the LPT value band for the years 2022 onwards then you can apply to Revenue for Specific Clearance with evidence that the property was valued in the correct value band on the relevant valuation date i.e., 1st of November 2021. Revenue will have the discretion as to whether they will grant Specific Clearance or whether the property value bands need to be increased and the different paid up. Revenue accept a valuation from an Estate Agent as evidence that the property was valued correctly on the relevant valuation date. Specific Clearance applications can take time to be processed so it is best that same is applied for at the outset to avoid any unnecessary delay arising.
- Probate Sale
If a property is being sold following the death of the owner, a Grant of Probate is required in order to complete the sale of the property. If this has not been finalised in advance of the property sale it can cause very significant delays. Therefore, in order to avoid significant delays, you should obtain the Grant of Probate prior to putting the property on the market.
If you have any queries in relation to the sale process or conveyancing in general, please do not hesitate to contact Sally-Ann McCoy or Pauline Horkan on 01 2960666.
