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Making the sale of a house can last up to three months. There are also several legal elements to look into, and it is important to be aware of this elements. Below is some more information on these 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 sale contracts are made by the broker through auction, they will not indicate the purchaser and price of purchase, but will wait till the auction is through and they have found a buyer. 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.
Any we buy houses in Jacksonville FL that was constructed after 1st October 1994 requires a planning authority. The planning documentation must comply with the law and the agent will need to verify this. This will also include a documentation from an architect categorically confirming that the conditions of regulations are in accordance with the law. In an instance that there have been any adjustments made on the property, you need to get that approved too. It is necessary that the planning documents are as required before the proposed sale. If all these paperwork is not up to code, the buyer can, once they find this out, can terminate the purchase even if it has progressed too far.
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. Before the cash home buyers in Jacksonville FL sign the contract, his agent will have to verify if the title is legit and study the terms of the contract after which he/she will advise the buyer on any issues if there are any. 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 sent to the solicitor of the purchaser who will later raise requisition on the title and your solicitor has to respond on that. For more info about real estate, visit http://en.wikipedia.org/wiki/Real_property.
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 partner if need be) will then sign 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.