I sold flat without a solicitor!

bundly

Although I have no legal background I sold my flat myself without a solicitor or conveyancer. The flat was a leasehold one, but I also owned half the freehold and was selling that to the buyer as well, as a separate deal, for £500.

I learned everything I needed to know on the Internet. I looked at a few solictors' websites and some had PDF downloads of "what a selling contract looks like". Then I just "stole" the wording and made up my own contract.

The buyer's solicitor is one of those ancient firms (in Hastings) and the senior partner was at first quite outraged and initially refused to deal with me. But I knew that he has no legal right to do so and when I reminded him of this he immediately relented.

He then told the buyer that he would charge her extra because he would have to spend time checking the contract I'd drawn up. So I phoned him and said he ought to be checking every contract carefully in any case, whether issued from a private individual, conveyancer or solicitor.

He was embarrassed at being caught out and agreed not to charge her more, although he was generally grumpy about my not engaging a solicitor, mumbling that I might make a mistake which they would have to correct, thus costing them time and effort.

Once he ceased "trying it on" all went well. Until I received the contract from them. This venerable old firm of well-established, expensive solicitors had placed the wrong property registration number on the document! :rotfl:

Luckily I was checking everything with a fine-toothed comb. I must admit that, because of the way the man had sneered down his nose at me, I felt absolutely ecstatic and extremely smug that it turned out to be HIS firm and not me that made the only error. :T

He then told me to bring the contract down to his office and they would issue another, but I didn't see why I should be put out (time, bus fare) because of his error, so I made him drive over to me with the new one. And so we exchanged contracts on my kitchen table.

Anyway, it saved me a few hundred quid, plus I learned that venerable, expensive solicitors who are right up their own jacksies with arrogance aren't necessarily infallible.

I don't think I would have done it myself if I were buying ..... but then again, why not? There must be a simple procedure that solicitors follow, so maybe we MSE's can do that also?

Has anyone else done it themselves?

I should add that I sold without an estate agent, saving myself even more -- over £2,000!

PasturesNew

My relative is a solicitor and always uses a solicitor to buy/sell houses. Their reason "if something goes wrong, I have somebody to sue"

alex_g_2

Hi

When i did conveyancing we always followed a procedural checklist. It is possible to do your own conveyancing but if you are financing a purchase with a mortgage then the lender would insist a conveyancer is used who is on their panel of approved ones.

But well done for doing it yourself. True MSE you saved money.:j

1984ReturnsForReal_2

bundly wrote: »

He then told the buyer that he would charge her extra because he would have to spend time checking the contract I'd drawn up.

:rotfl::rotfl:


Bloody idiot....

Mike_Teas

Well done you. Did you not have a mortgage over the property? Did you redeem the mortgage yourself.

Given the nature of the buyer's lawyer I would be surprised if he accepted this.

Bootski

bundly wrote: »

Although I have no legal background I sold my flat myself without a solicitor or conveyancer. The flat was a leasehold one, but I also owned half the freehold and was selling that to the buyer as well, as a separate deal, for £500.

I learned everything I needed to know on the Internet. I looked at a few solictors' websites and some had PDF downloads of "what a selling contract looks like". Then I just "stole" the wording and made up my own contract.

The buyer's solicitor is one of those ancient firms (in Hastings) and the senior partner was at first quite outraged and initially refused to deal with me. But I knew that he has no legal right to do so and when I reminded him of this he immediately relented.

He then told the buyer that he would charge her extra because he would have to spend time checking the contract I'd drawn up. So I phoned him and said he ought to be checking every contract carefully in any case, whether issued from a private individual, conveyancer or solicitor.

He was embarrassed at being caught out and agreed not to charge her more, although he was generally grumpy about my not engaging a solicitor, mumbling that I might make a mistake which they would have to correct, thus costing them time and effort.

Once he ceased "trying it on" all went well. Until I received the contract from them. This venerable old firm of well-established, expensive solicitors had placed the wrong property registration number on the document! :rotfl:

Luckily I was checking everything with a fine-toothed comb. I must admit that, because of the way the man had sneered down his nose at me, I felt absolutely ecstatic and extremely smug that it turned out to be HIS firm and not me that made the only error. :T

He then told me to bring the contract down to his office and they would issue another, but I didn't see why I should be put out (time, bus fare) because of his error, so I made him drive over to me with the new one. And so we exchanged contracts on my kitchen table.

Anyway, it saved me a few hundred quid, plus I learned that venerable, expensive solicitors who are right up their own jacksies with arrogance aren't necessarily infallible.

I don't think I would have done it myself if I were buying ..... but then again, why not? There must be a simple procedure that solicitors follow, so maybe we MSE's can do that also?

Has anyone else done it themselves?

I should add that I sold without an estate agent, saving myself even more -- over £2,000!

Good Man yourself!!:T or woman - Well done!!:D

Sign of things to come perhaps - hope so

Who need's em?? Done a lot of the work myself too, with probate etc

Maybe you deserve a newer car, holiday or whatever with the £ss you saved... But I'd just be happy with acheiving what you have

bundly

Whoops sorry meant to say, I owned the flat outright, having paid off a three-year mortgage (borrowed from a friend). I guess this made things a bit simpler.

If I had had a mortgage on the property I assume that the buyer's solicitor would not have paid me until he had paid off my lender. That's how it usually works when both parties have a solicitor.

I didn't blow the money I'd saved, I put it in a savings account <yawn>

beetledriver

Be carfull with this guys, it is possable to do your own conveyancing in simple cases but it can very easily go wrong. Can I ask you said you had share of freehold and sold both the lease and freeholding how did you handle the managment info?

orangefender

I would also add a health warning. Whether or not a lender is involved, you should not even consider doing your own conveyancing!

If you think about it, for most, you are dealing with the most valuable asset you will ever own (not to mention your home) worth several multiples of your annual income. Can you afford to get this wrong? How much value do you think a property would loose if say it had no access rights? Would you want to risk retaining an on going liability to pay service charges?

Even if your solicitors fees were £1,000 plus vat, taken in context of the transaction this is a very small amount (particularly when compared to EA fees). If a solicitor misses something they are insured. If you miss something you may have to live with the biggest mistake of your life. Making a small claim for £500 is one thing; conveying an asset worth £500k is altogether different.

G_M

I would also add a health warning. Whether or not a lender is involved, you should not even consider doing your own conveyancing!

What rubbish! Consider it by all means, and only take it on after careful consideration and if you are confident, but provided it is a straightforward, sale/purchase it is not beyond most literate, reasonably educated, organised people.
If unregistered land - beware.
If a mortgage is involved - the lender will insist on a solicitor for the mortgage deed which makes your saving very limited
If a mortgage is involved in a sale, it will need redeeming BEFORE completion as the buyer will not accept your undertaking to redeem it later.
If buying a lease - more complicated. Beware.

To anyone who gives it a go, best of luck - I've done it 7 times!

some had PDF downloads of "what a selling contract looks like". Then I just "stole" the wording and made up my own contract.

I would be more organised than this - it's a critical document, not one to 'make up!' Get a good book on conveyancing and follow the process, and documentation, to the letter.

orangefender

G_M wrote: »

What rubbish! Consider it by all means, and only take it on after careful consideration and if you are confident, but provided it is a straightforward, sale/purchase it is not beyond most literate, reasonably educated, organised people.

This is pretty irresponsible advice. The problem is that unless you have the experience you do not know what the potential pit falls are. I agree that anyone with a reasonable level of intelligence could fill in the blanks on a contract or TR1, but there is a little more to it than that!