Have you been considering putting your property on the market? The prospect of selling a home or a property can be daunting
Have you been considering putting your property on the market? The prospect of selling a home or a property can be daunting.
To ensure that the transaction runs as smoothly as possible, potential vendors of a property should consider the following issues once the property has been advertised for sale.
The most important thing is to secure the title documentation to your property. More often than not, the title documentation will either be with your bank, if the property has been mortgaged, or with your solicitor.
You should contact your solicitor as soon as you have decided to proceed with your property sale, so that they can start working on taking up your title documentation. This can be one element of a transaction that can cause delays.
There are a number of property taxes that need to be taken into consideration if you are selling a residential property, and you should ensure that you have discharged the appropriate liability in respect of the local property tax from the year 2009 onward. Furthermore, if the property was not your principal place of residence for the years 2009-2013, the property would have been liable for the Non-Principal Private Residence Tax (NPPR).
If your property was liable for this tax, you should locate the payment receipts and furnish them to your solicitor so that they can apply for the relevant certificate of discharge.
In the event that your property was liable and the liability was not discharged at the time, there will be a payment of €5,160.00 payable to NPPR.
Vendors can secure an exemption from the NPPR liability where the property comprised of their principal place of residence for the liability dates.
The earlier you instruct your Solicitor, the better. Title issues relating to issues such as planning or boundaries can be dealt with at a stage where the property is on the market, saving time when the property goes sale agreed.
At Tormeys solicitors, we provide a concise checklist of the matters that you will need to attend to prior to the issuing of the contracts for sale, to ensure that the transaction is as smooth as possible from the outset.
If you are considering selling your property, contact our conveyancing department and we would be happy to discuss any questions or queries you may have.
* The above article consists of general recommendations and should not be interpreted as legal advice. You should contact a Solicitor to secure advice specific to your individual requirements. In contentious business, a Solicitor may not calculate fees or other charges as a percentage or proportion of any award or settlement.
Tormeys Solicitors have been serving the people of the midlands for almost a century, specialising in *Personal Injury, *Medical Negligence, *Conveyancing, *Probate, *Commercial Law, *Employment Law and *Family Law.
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