Do you want to buy a new house but need to sell your old house first? You may have already been house browsing on the internet or running through the newspaper ads for your dream house. Before selling your home though, it is good to know the legal issues concerning house selling and the ins and outs of selling your house.
If your house’s mortgage is already paid in full, then you no problem. Having a clean title gives you a better advantage when selling your house. You can sell it faster and for a higher price. If your house is still under mortgage, make sure to get legal authorization from a lawyer for the buyer to take up the house title for contract purposes.
Is the house title under your name? Your parents? Husband? Wife? Great, great aunt? It is important to be absolutely sure that your house title is valid. Meaning, there is no other person with claims to your property. Any conflict in property should be settled before you even start to plan selling the house. Buyers often employ an attorney or insurance company to investigate on your property, house title, marketability, etc. No potential buyer would want problems that come with buying a property.
If your house’s title has both you and your spouse’s name affixed to it, then it is considered as a family house. Both your signatures are needed on a Family Home Protection Act Declaration to confirm the sale of your house. You would need an attorney to make this documentation and make it official. This is to ensure that both property owners are agreeing to the sale, making the buyer sure that there would be no conflicts.
Plan, Plan, Plan
Always have a plan and always plan ahead. This should include an architect’s certificate where a planning permission is stated. This is an assurance to the solicitor that the property has been well structured and that all developments after have been approved as well.
If you don’t know anything about realty, then best leave it to the professionals. Consulting a realtor is a good option because they can give you advice on how to sell your house best. They can assist you on the processes once you have a prospective buyer. You have the option to sell it privately or through an auction. For auctions, an auctioneer is the best person to help you through the auction process.
It is best to seek a legal advisor who knows and has experience in realty rather than copying something from the internet. A professional can help you in legalizing all the processes concerning the sale of your house. It may cost you a bit now but it will protect you in the long run.
Selling a house is no easy task. Most buyers look forward to a hassle-free buying experience. Every step is important. Some people planning to sell their homes even hire contractors to fix and solve current household problems (like plumbing, repainting, landscaping, etc.) or enhance the house’s facade to make the house look more desirable to prospect buyers and to up the market value of their home. Some promote their sale through social media because it is the most popular form of advertisement now-a-days. But the most important part will always be the legal aspect of it all, so make you get that part right.