Did you know that when it comes to selling an apartment you will be required to provide the buyer with a pack of documents? For an apartment it differs slightly from the standard pack of documents required when selling a house. This is because the owner of an apartment shares common areas such as the stairs, roof and gardens with other apartments in the same building. These areas are maintained by the landlord or his managing agent and the costs are shared between the apartment owners. So you will need to provide full details of the responsibilities and costs involved.
This may seem like a daunting list at first but you may not need all of these documents. When it comes to selling an apartment it’s better to be organised. The sooner you have your pack ready the smoother the process will be for your sale.
The documents required when selling an apartment are:
- Your lease – If you do not have this, an official copy can usually be obtained from the Land Registry or in some cases from the management company.
- Information about the management of the apartments – This is usually in the form of a management company pack and commonly known as form “LPE1”. The pack is filled with enquiries from the buyers which are answered by either the landlord, the management company, the managing agent or the residents’ / tenants’ association. It should contain details about ground rent, insurance, service charges, buildings insurance, disputes and fire risk assessments. Any additional documents which need to be signed by the buyer should also be included. All of this information is usually held by landlords, management companies and managing agents.
You can find out more information about what should be included in the management packs in our next blog “Selling an apartment: what should be included in a management pack?”
- If the property was built within the last 10 years, you will need to provide an NHBC Certificate and booklet, or alternative warranty such as a Premier Guarantee. These are insurance policies to protect you should any defects in the property be found within 10 years of it being built. If the certificate is missing, a duplicate is usually available from the provider.
- If the property was built within the last 20 years a Planning Decision Notice for the original construction will be needed. If you do not have copies, they may be obtained from the local authority planning portal. Although, you may have to pay an administration fee for the replacements.
- Building Regulation Compliance Certificates relating to any major work on the property. E.g. a new roof, rewiring, a new boiler or new windows. If new windows have been installed since 1 April 2005, when the regulations came into force, then a FENSA Certificate must be handed to your buyer.
- Indemnity Policies – In some instances when you buy a new flat or apartment the seller may have taken out a Restrictive Covenant Indemnity Insurance Policy to protect themselves and subsequent owners or mortgage lenders in the event that there were potential breaches of covenant (restrictions) on the site when the building was originally constructed.
Are there any forms which need to be filled out when selling an apartment?
As part of the process involved with selling an apartment, you will also be required to complete the following three forms.
- A Sellers Property Information Form:
This form contains important information about the property and what work, if any, you have carried out during your ownership.
- A Fittings and Contents List:
You will be required to provide a list of fixtures and fittings showing which items you plan to take with you and which items you propose to leave at the property. This should include any items which you wish to offer to the buyer for a separate price.
- A Leasehold Property Information Form:
This form contains information about the management of the property and the collection of any ground rent.
Once the pack of documents and all forms are completed the apartment is ready to sell. The information can then be passed to the buyer in order to proceed with the sale.
For more information on what documents are required when selling an apartment, please contact our Conveyancing team on 0161 475 7676.
If you are selling a property which isn’t an apartment, find out what documents you may need in our previous blog: “what documents do I need when selling a property?”