Are you planning on selling your house? Have you considered the importance of a party wall agreement in the selling process?
A party wall agreement is a legal document that is used to regulate the use and ownership of shared walls between two properties. It is essential when you plan on selling your house because it ensures that your neighbor cannot dispute any works that may affect their property.
The party wall agreement should be signed before any construction work is done on the shared wall. This means that if you plan on extending your property and the extension is going to affect the party wall, you need to notify your neighbor and seek their agreement.
In most cases, the party wall agreement is the responsibility of the property owner planning the construction or renovation works. However, it is important to note that the agreement must be made in writing and signed by all relevant parties.
The party wall agreement also contains details of the agreed works, including the start and end dates, and the obligations of each party. This includes the maintenance and repair of the shared wall and any disputes that may arise during the construction process.
Without the party wall agreement, you may be exposing yourself to legal disputes and delays in the selling process. A property that lacks a party wall agreement may be perceived as being risky to potential buyers, which could affect its market value.
In conclusion, a party wall agreement is an essential legal document that should not be overlooked when selling a house. It helps to ensure a smooth sale process and also protects both parties from legal disputes. As a property owner, it is your responsibility to ensure that you have this agreement in place before any construction work begins. It is always advisable to seek legal advice from a qualified solicitor when drafting and signing the party wall agreement.