Wouldn’t it be wonderful for all property transactions to proceed quickly without any hiccups causing delays?
If you’ve sold land in the past, remembering the process may make you shudder.
Blanchards Bailey Solicitors share a few things you can do to help the process
1. Know what you’re selling.
The first port of call would be to review your title documents. If the property is registered at the Land Registry, does the title plan accurately reflect what is on the ground?
2. Speak to your lender.
If you have a mortgage, it is worth making contact with your Lender to ensure that your charge can be redeemed on the sale and to be clear on whether you have any early repayment charges
3. Consider access issues.
How is your property accessed? It is not uncommon in a rural area for there to be undocumented access to property and this will inevitably be raised by any prudent buyer.
4. Speak to the experts in their field.
We recommend that you engage with a reputable land agency to help market your property.
5. Know the real cost.
Lastly, it is always worth speaking to your accountant prior to disposal of the land as there could be tax implications on your business and the opportunity could be taken to reduce any tax potential liability by forward planning.