Quick Question!

Stormybay

Hi All,

How do I go about selling my house?
I have no mortgage in it and my brother wants to buy it (as a BTL) with cash. I'm presuming I don't need solicitors, estate egents, surveyors as there is no mortgage on either side, so what DO I need to do? Do I just had over the deeds with a reciept? Who do I need to tell? Is it the land registry, and does it cost anything?

Any advice would be greatfully received,

Thanks in advance

Stormy

BobProperty

I think you both should have solicitors. There is some contractual paperwork, notification to the Land Registry and possibly stamp duty otherwise yes, you don't need to involve anyone else.

clutton_2

i would phone the land registry and ask them, i have always found them to be very very helpful to the general public. i have done several legal title things myself which have been very easy and cost me a few quid, rather than a few hundred quid to a solicitor.

depending on the sale amount, the tax man might want to know more, as large cash transactions these days are treated with a great deal of suspicion.

archie99

Hi, you can both be represented by the same solicitor, normally you would not be allowed but an exception is blood relatives.

However as your brother is buying by way of buy to let mortgage seperate representation is required by your brother mortgage lender.

Simple straight forward transaction, legal fees on your sale will be approcx £400+vat

hope all goes well:rotfl:

Stormybay

Thank you for all your advice.

My brother wouldn't have a buy to let mortgage, he would buy my house with cash. The story is we have been left some money in my father's will. I want to pay off my mortgage on my house I now live in (40k) and buy another house for cash to live in. My brother want's to buy my house with his cash and rent it out. He will not need to borrow any money and neither will I. that's why I wondered if we had to get the 'professionals' involved!

I will also telephone the land registry and see if they can offer advice too.

Thanks once again and any more ideas/advice would be greatfully received.

Stormy