News & Updates

Practicalities of Moving Home

Karen Crothers

Published byKaren Crothers

19th September 2023

Practicalities of Moving Home

It is often said that moving house is one of the most stressful events in our lives. While it is not possible to remove stress from the process altogether, there are steps you can take to be more prepared and ready for your transaction, whether you are buying, selling or both.

As a Seller one of the most useful things you can do is to contact your solicitor at the same time as engaging an Estate Agent. Your solicitor can discuss with you what is required before an Offer is received and most importantly help you locate your Title Deeds. These could be with your solicitor, your mortgage provider or quite possibility somewhere in your attic. As I’ve mentioned before in these articles, your Title Deeds do not just consist of the Title Sheet but also any Planning or Building Control documentation and Guarantees for specialist work which has taken place, for example rot or woodworm treatment. If your Guarantee is still valid your solicitor will require a copy of the original report and plans as well as your Guarantee.

A Seller should also decide early on what appliance and furniture are to be included in the sale and then start the time-consuming job of decluttering, packing up and cleaning. Many people underestimate how long this will take. If you do remove pictures, TV brackets, wardrobes etc. while you are not expected to redecorate the room, you should fill and repair any large holes or damage which have occurred as a result of removing fixtures. You will be expected to have emptied, cleaned and be clear of the property by lunchtime on the Date of Entry.

If you are selling a second home or buy-to-let property be aware that the rules in relation to Capital Gains Tax have changed. You are now responsible for reporting and paying Capital Gains Tax within 60 days of the date of sale, so make sure that you collate all the necessary information and diary forward to avoid any penalties.

Turning to purchasers, you will be aware by now of the requirement to provide evidence that you have the funds in place to purchase the property in order to comply with the current Money Laundering Regulations. Not only will you have to prove that you have the funds in place (“Source of Funds”) but also the origin of the funds (“Source of Wealth”). This can be quite tricky, especially if they come from long-terms savings, an old inheritance or funds are split over various accounts and investments. However, this is an important part of the conveyancing process as your solicitor will not be able to conclude Missives for your purchase until and unless they are satisfied with your Source of Funds and Source of Wealth, so ensure that this is dealt with as early as possible.

Unfortunately, it is becoming increasingly common for Missives not to be concluded until very close to the Date of Entry. There are numerous reasons for this, and it is as equally frustrating for solicitors as it is for you. Ensuring that you discuss matters and have your ducks in a row at the outset of your sale or purchase will hopefully assist in early conclusion of Missives.


This article first appeared in Wire magazine

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