Investing in property is obviously a long term investment option, and a fantastic long term goal. However, settling property rights can prove to be a little unsettling. For a professional and hassle free
settlement, Stella Settlements have the experience in insuring a fair and stress free settlement. Stella Settlement Agents (Stella Settlement Agents ) have the skill and experience in the industry and work to ensure that you the client receive the best possible outcome.
When working on the settlement process just keep a couple of things in mind, so that you can enjoy a smooth and happy transition for your new home.
Check on existing mortgage
Ensure any existing mortgage is paid off and any caveats on the property are lifted. To find an existing mortgage on a property search through online resources, such as SearchQ.com. you can also check the official websites of the registered offices of the county. County offices may have have recorded documents such as mortgage papers easements, deeds or other information that affects the title of a property.
The most obvious suggestion is to inspect the property. Not just with the aim of making a purchase but actually looking out for the little and big things that can be missed. Since the seller has to hand over the property in the same condition it was shown, the inspection is really important. Make sure you check the condition of all the items and list them in the contract.
You will be required to take out a building and content insurance For content insurance, make a note of all the things in the house and then take a call on all that you want to ensure.
Understand your liabilities due to property ownership. You are responsible for paying land transfer duty (earlier called ask stamp duty) on the sale. You are normally given a grace period of three months to pay the duty. You cannot receive title to a property until you have paid the duty.
Register the transaction with Landgate to make the transfer official. Details of forms and fees can be seen here