What are the risks you run when you sell a house

What are the risks you run when you sell a house

February 22, 2023 Off By Totoi Semerena

Many people think – erroneously – that in a real estate sale the only party at risk is the buyer, but this is not the case. If the buyer risks making a bad deal, the seller can run even more serious risks if he doesn’t have technical expertise in real estate or doesn’t get help from professionals in the sector. Let’s see what are the main risks you can take when selling a house https://www.dignityproperties.com/

Town planning and cadastral non-compliance

What to look out for when selling a house? Undoubtedly, one of the first aspects to consider is the urban planning and cadastral compliance of the property. The most common and concrete risk to which the seller is exposed is in fact that of urban planning and cadastral non-compliance , where the first is the correspondence between the actual state of the house and the building permits issued over its construction history, while the second it is the correspondence between the actual state of the house and its cadastral and planimetric data.

In practice, in order not to run into problems during and after the sale, the  state of  the property must correspond to the cadastral plan and the last urban planning document presented to the Municipality.

When irregularities on these points emerge, the buying and selling process slows down. Before signing the deed, in fact, the seller must deliver to the notary all the documents certifying the town planning and compliance of the house, under penalty of nullity of the deed, and with the null deed the buyer can demand, even at a distance of years, the refund of the money paid as the sale price and the reimbursement of the expenses incurred.

But there’s more: since to obtain a bank loan compliance between the state of affairs of a property and the plans presented is required , in the absence of this requirement the loan will not go through. This is not just a problem for the buyer: in fact, the seller will lose the sale and will be in breach of the contract, with the consequence of having to return the deposit deposited by the buyer.