Simple Explanation to the Legalities of a House Sale
Making the sale of a house can last up to three months. The house selling process has a lot of legalities and it is vital to comprehend them before you begin the process. Continue reading to know more about the legalities.
Preparing the Contracts for sale
Once you and the lending institution have provided the solicitor with all the relevant documentation, the contract for sale is drawn. If the contracts for sale are being prepared by the solicitor by auction, he/she just leaves the buyer and purchase price blank until the auction is over and the buyer has been established. Before the auction, the potential buyers will always check the all the title paperwork before the auction happens. The contract will have all the names and this also include the purchase price if the sale is by private treaty. Sell your house fast Jacksonville.
Any kind of housing built after 1st October 1994 is required to have a plan permit. The broker is required to check into the plan permits paperwork and make sure it's up to code. In most instances this will require you to get a certificate to be provided by an architect, who will confirm that all the plan requirements have been met. If the house was developed in anyway,a similar approval must also be provided. It is vital that the planning documents are in order before the sale. If they not as they are supposed be and the potential buyer realizes it, he/she may cancel the transaction at any stage. To learn more about real estate, check out http://realestate.money.cnn.com/.
Approving the Contracts and Closing
The initial stage of the contract process is the time your solicitor sends the contracts and a duplicate of the title deed of the house to solicitor of the purchaser for signing. The companies who buy houses Jacksonville FL will then study the condition of the contract and research the title and then advice the purchaser as to any issues/changes that may be relevant. If the buyer and his/her agent are satisfied with the contract, the agent will assent to it and make the initial payment.
The buyer's agent will then send the signed contract to your agent and you will also be required to assent to it in duplicate. A copy is resent to the buyer's agent who will later raise requisition on the title which your agent will have to respond to.
At this point your broker will get the final paperwork ready, in case there is any mortgage taken on the house your lender should quote all the redemption amounts. You (and your spouse if necessary) will assent to the closing documents and declaration. Finally, your broker will then meet the buyer and get the keys to the property you gave them once the money has been paid.