TLDR: The article explains how to document funds from a property sale in the Source of Funds task. Users select the property's country, enter its address and purchase date, and specify the contribution amount. Depending on the sale status—completed, offer accepted, or on the market—different details and evidence, such as law firm or estate agent information and relevant documents, may be required for upload.
Funds from a Property Sale
In the Sources part of the Source of Funds task, you will see a list of sources that you can select. You can add as many sources as you need. Continue to add sources until your full property price is accounted for. Add your sources one at a time.
If you are using funds from a Property Sale, select this from the list of sources.
First, select the country where the property is located, and then select ‘Next’ at the bottom of your screen. Then enter the address of the property being sold, and the date of when it was purchased. Select ‘Next’ at the bottom of the screen.
Then enter the contribution amount from the property sale. You do not need to enter the full property sale price if this is over the contribution amount being used in your transaction. Then select the status of your sale by tapping on the drop down list and select ‘Next’ at the bottom of your screen.
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Depending on the status of the sale that you select, you will see a varying set of follow up questions.
If the sale has completed, you will be asked to enter the name of the law firm that acted for you, the name of the conveyancer that acted for you and your completion date.
If your offer has been accepted but the sale has not yet completed, you will be asked to enter the name of the law firm that acted for you, the name of the conveyancer that acted for you and your estimated completion date.
If your property is on the market, share the name of the estate agent acting for you.
Sharing evidence of your property sale
Depending on the status of the sale, you may be asked to share further evidence. If you are, select ‘+ Add Document’ and then tap on the drop down list where you will see two options, either a contract of sale, or the memorandum of sale.
After you select the option from the drop down list, you will be prompted to upload either a photo or PDF of the relevant document. Select ‘+ Add [DOCUMENT NAME]’ where you will be able to share this. Once uploaded, select ‘Save’.
If you do not have evidence you are able to share at this stage, read here for further guidance.