#NorthCoastProperty: Sellers, be sale ready!

Believe it or not, albeit depending on market conditions, getting a signed offer is often the easy part of a transaction.

Getting the property to go from agreed offer to registration is where the hard work sometimes starts.

The usual hurdles for this being the case are fairly obvious like the buyer obtaining a bond, being subject to a sale, or, satisfying any other suspensive conditions.

Assuming these are fine, or there are no conditions to satisfy, there are still a few things that can hold up a sale.

However, the good news is that most of these can be sorted out before a buyer is even introduced to the property.

A good sale is one that has – and keeps – forward momentum throughout the transaction – which actually means no unnecessary delays.

So, what can sellers, in particular do to aid a timely sale?

A good start is to appoint a proactive attorney who is familiar with the local municipality and home owners’ associations if applicable.

Secondly, have all your FICA documents in place. It’s a small aspect but an attorney cannot draft any paperwork without this.

The next point is to be responsive.

There will be times when an attorney or bank need certain matters to be provided/clarified and the seller should not delay when this request comes.

Starting the bond cancellation process and knowing that new compliance certificates will be required can also save a week or two in the process.

More importantly however is having your house in order in terms of occupational certificates and approved plans and this has certainly become an issue more of late.

Technically speaking every property should have approved plans and an occupation certificate.

Although the deeds office doesn’t require them to lodge the transfer, some estates are now only allowing properties to transfer with a valid occupation certificate.

Some buyers also request the approved plans as part of the terms of their offer.

Thus, if any changes have been done to the property, new plans are required.

Make sure these new plans are all stamped and that a new occupation certificate is issued. If this is not in place, it can take months to find the old plans and get new ones drawn up.

My advice to sellers is quite clear.

When deciding, or even contemplating, to put your property on the market, make sure the approved plans and an occupational certificate is in place.

The worst thing to happen is for the agent to present a solid buyer who is very excited about the property, only to lose that momentum and potentially that sale if something better with no snags comes along in the meantime.