Introduction

CeylonProperty.lk recently released a podcast conversation with Mr.Sameera Silva, covering the important legal aspects of selling property in Sri Lanka. 
The discussion explains the key documents sellers should prepare before putting their property on the market. It is useful for local homeowners, property investors, and Sri Lankans living overseas who are planning to sell property in Sri Lanka.

Documents to Prepare Before Selling

Having the right documents ready before listing your property can help avoid delays and make the selling process much easier when a serious buyer is ready to proceed.

 1. The Property Deed

The property deed is one of the most important documents when selling a property. It serves as proof of ownership and will need to be checked during the legal process.
Sellers should locate their deed early and make sure the details, including ownership information, are correct before listing the property.

 2. An Approved Building Plan

An approved building plan confirms that the property was constructed according to the required approvals. If the building plan is more than 10 years old, or if the property has been extended or changed, an updated approval may be required. Since this process can take time, it is better to arrange it before finding a buyer.

 3. Street Lines and Building Lines

Street Line and Building Line certificates confirm that the property follows the required rules regarding road boundaries and building setbacks. These documents may be requested during the buyer's legal checks. Having them ready can help the sale move forward without unnecessary delays.

 4. Certificate of Conformity (COC)

The Certificate of Conformity, or COC, confirms that the completed building matches the approved building plan. As obtaining the COC can take time, sellers should arrange it before putting the property on the market. Having this document ready can help prevent delays later in the sale.

 5. Utility Accounts in the Seller's Name

Utility accounts should be registered in the seller's name when the property is being sold. This is especially important for properties that have been transferred through a family or inherited. Differences between the property owner and the names on utility accounts can lead to additional questions during the buyer's checks.

Preparing your documents before listing your property can make the selling process smoother and help avoid unnecessary delays. As Mr. Silva explains in the podcast, this preparation is especially important for Sri Lankans living overseas, who may find it more difficult to arrange missing documents from abroad. 

The better prepared you are, the easier it is to move from listing your property to completing the sale with confidence. Listen to the full conversation with Mr. Sameera Silva on the CeylonProperty.lk podcast for a detailed discussion on the legal side of selling property in Sri Lanka.

CEYLONPROPERTY.LK
Explore Thousands. Find Your Perfect Match.