Selling Your Home
We realise that selling your home can be a stressful time and will work with your solicitor to ensure that our involvement in the process is as trouble free as possible.
Our sales procedure requires an irrevocable mandate to be signed by you and your solicitor and returned to our office (alternatively, you can pay this to us in advance), along with the payment of a sales administration fee. Both of these are required to be received before we will release the requested information. A fee is required because the cost of providing sales information is not covered by our Management Fee. The sales administration fee is reviewed annually and therefore subject to change.
To allow us to assist your solicitor during the process, we will require them to contact us 28 days in advance of the sale and will require the following information:
- the property address
- the date of sale
- the purchaser’s name(s)
- details of the purchaser’s solicitor
Where the seller’s solicitor has contacted the Association 28 days in advance of the sale we will charge our sale administration fee (as agreed annually by the Management Committee). The charge will be payable prior to the Association providing the requested information and will be increased by fifty percent where the required 28 days’ notice has not been provided. The sale administration fees for 2022/23 are:
- £65.00 + VAT where the Association receives 28 days’ notice or more of the property sale
- £97.50 + VAT where the Association receives less than 28 days’ notice of the property sale
The charge covers the provision of the following information:
- the current outstanding balance including any Notice of Potential Liability for Cost or Decree we have in place
- details of any repairs reported but not yet billed
- details of any planned investment work under consideration and costs if available
- buildings insurance information
- an estimate of the retention required to be held by the solicitor on behalf of the seller
- an estimate of annual charges for the incoming owner
After properties change ownership, the Association will apportion all common charges and bills outstanding and will aim to issue the final account within six weeks but no more than three months of the Association being made aware of the actual date of change in ownership (the date of settlement) unless there is a good reason not to (for example, awaiting final bills relating to contracts which were in place for works and services or the property factor has not been provided with the specified period of notice informing them of the change in ownership).
We do not hold copies of planning documents or completion certificates. If you or your solicitor require this information, please contact Glasgow City Council’s Building Control department.
If you have any questions or need further information regarding your property sale, please contact one of our finance staff on 0141 763 1317 or email email@example.com