Selling a property is no simple task. As a seller, whether you’re dealing with first-time buyers or experienced investors keen to find great investment properties, you’ll be required to produce precise, legally-binding paperwork. Not only that, proper documentation also boosts buyer confidence and protects you as a seller during possible disputes.
If you’re ready to start your selling journey, listed below are just some of the most important documents you’ll need as you prepare to sell your property.
When you’re selling your home, transparency is your best friend. The more upfront you are with potential buyers, the more trust a buyer has in the property. This speeds up the sales process through faster engagement and reduces the likelihood of any future legal issues. Nothing can derail a property sale quite like the failure to disclose issues. Understanding potential problems in your property is the first step to disclosing them, which is why the real estate salespeople at Lochore’s work with you during the property appraisal and marketing periods to help identify and discuss any issues.
With an experienced real estate company like Lochore’s in your corner, you’ll also enjoy the connections we’ve established with leading property consultants such as lawyers, town planners, builders, and inspectors who are well-versed in the legal documents and property reports you’ll need as you sell your home. Together, we’ll help you put together the necessary documents and ensure they’ve been properly completed. You may also want to consult with a property lawyer before signing an agency agreement.
The documents you need to sell your property
Selling a property is a complex, technical process. While exhaustive documentation and frequent consultations may seem taxing, it’s actually a much easier (and cheaper) route than dealing with the consequences of cut corners. A lengthy paper trail is an asset for you as a seller, not only because it protects you from liability in sales disputes, but because it elevates the level of trust a buyer has in the property and can help speed up the sales process.
Below are the necessary documents for selling property.
- Land Information Memorandum (LIM)– This report is prepared by Auckland Council by request and contains useful information about the property’s permit and consent status plus other supporting historical and planning documentation.
- Certificate of Title – The result of a title search, this certificate provides core information about the property’s type, description, owners, land size, and any registrations such as easements, covenants, caveats, mortgages etc.
- Sale and Purchase Agreement or Auction Agreement – This document will provide basic information and instruction regarding conditions of sale, the handling of deposits, and other relevant information. Lochore’s Real Estate will prepare this.
- Seller’s Disclosure – This may include important information if the sellers have completed works without Council consent, or if there is some history they wish to pass on to a buyer.
- Anti-Money Laundering (AML) Compliance Documents – This includes proof of identity and verification of residence.
Some other information and documents you may need to provide could include:
- Building Inspection Report – A building inspection is conducted by independent third parties who impartially assess a property for potential issues. This is optional and often depends on the type of construction. Most buy will request a building inspection report, so having it done ahead of time will keep the process moving efficiently.
- Survey Plans – This is applicable if the property has further subdivision or development potential
- Code of Compliance Certificate
- Previous plans and consent information for works completed
- Electrical Code of Compliance
Let Lochore’s handle the paperwork
If you’re selling property on Auckland’s North Shore, Lochore’s Real Estate is ideally positioned to help you maximise returns and navigate your property documentation. Contact the Lochore’s team today to take the pressure out of selling your property.