Registering your property can be a time-consuming task. But don't worry! There are ways to save yourself time and money when registering your property with the government. We'll discuss the process in detail below, so you understand what is involved in registering a property.
What are the requirements for registering a property?
There are many requirements to register your property with the government. The most important requirement is that you must have proof of the title deed, which means having clear ownership over your land or building.
You also need valid insurance papers and tax clearance certificates before applying at the Land Registry. You also need to prove that you own the land or property, and if it is leased then your lessee must provide a valid written consent from his landlord.
How long will each requirement and verification take?
The length of time will vary depending on the type of property, whether it is residential or commercial, and if you are a first time buyer. It takes approximately 30 days to register a property upon completion of all the necessary requirements and verification for your application.
The registration process begins once you have completed closing on your new home or business, which is why it's important that buyers allow themselves enough time before they need the certificate from their lawyer/notary public. This part of the process can take anywhere from several hours up to five working days depending on whether there are any outstanding conditions attached by either party at settlement.
A condition could be something as simple as an inspection report not being provided until after finalization has taken place between parties involved in a transaction (i.e.: Seller, Buyer). If this occurs, then both parties will want to ensure that the necessary time is allowed to arrange for a third-party inspector.
DO you need to pay any amount during registration?
Yes, there are some registration fees that you need to pay during the process. For example Stamp Duty and Registration Fees. There is also a one-time fee for getting ownership of the property transferred from seller to buyer, which needs to be paid at the time of sale deed signing called as ‘transfer duty’ or ‘registration fee’ – depending on where your local government falls under.
Are there any experts who can help you through the process?
The answer is yes, you can hire a real estate attorney to help ease the process along. However, the price of registering your property can vary depending on the task. For example, the registration of a house will require you to complete more official documents than if it is just your garage or storage space.
Whether you are registering small scale properties like garages and storage spaces, or large-scale buildings such as houses and condominiums, it is best to ask your real estate attorney for a detailed list of what is needed.
This way you can be prepared for any surprises that will come your way during the registration process and avoid unnecessary expenses from fees or taxes related to those items not included on this list. In addition, check with your local county recorder’s office as there may be property specific steps required by each state in order to register it successfully.
Conclusion
As you can see, the registration process for property is not complicated. It takes only a few days to months depending on your location and circumstances of registering it with your local government. For quick results, hire an agent who will be able to speed up the entire procedure as well as ensure that all documents are in order and accurate.