DIY Conveyancing with shared ownership??

Waynefb

Hello folks,

I found it hard not to vomit when I got a solicitor's quote for conveyancing. :eek:

I want to sell my one bedroom flat and go on to rent somewhere else. However, it is shared ownership, i.e, I own 55% and a housing company owns the remaining 45%.

I therefore have two questions:

1) Would the shared ownership aspect make conveyancing much more complicated than normal?

2) Could you please refer me to good up-to-date sources of info (books or web) on DIY conveyancing?

Many thanks,
Wayne.

Richard_Webster

Answer to first question is Yes.

Do you have a mortgage?

How will you prove your ID to the buyer's solicitor?

Are you allowed under your lease to sell to anyone or must you first offer it to someone on the Housing Company's list?

sonastin

Have you got a mortgage to pay off? The buyer's solicitor will hand over the money to a fellow solicitor in return for an undertaking the your solicitor will use some of it to discharge your mortgage. He won't do the same with you so you'll have to pay off any mortgage and get the charges removed from the property before you receive money from the purchase if you DIY.

G_M

If you search back on my posts, or search "DIY conveyancing" on this forum, you will see that I am a regular advocate in favour of DIY conveyancing IN THE RIGHT CIRCUMSTANCES.

Do you have a mortgage? If so, it's just not worth it

1) Would the shared ownership aspect make conveyancing much more complicated than normal? - Yes.

2) Could you please refer me to good up-to-date sources of info (books or web) on DIY conveyancing?

Go to Amazon and search "DIY conveyancing" or visit your local library.

Better still, don't waste your time. Instead shop around for conveyancing quotes.

Waynefb

Thanks everyone. Yes, I do have a mortgage. So, from the sounds of it, I'd be better off searching for a less nauseating quote, rather than learning DIY conveyancing. Good stuff. I know what to do know.
Thanks again.

Richard_Webster

I'd be better off searching for a less nauseating quote, rather than learning DIY conveyancing.

Make sure you make it clear that it is a shared ownership sale and read the small print and terms and conditions etc very carefully and ask about each item to see whether it could apply in your case. Some solicitors have a nasty habit of hiding extras which actually will crop up in most cases, but they are made to look as if they are things that are unusual and rare.

Also be aware that apart from what your solicitors charge you, you may find that the Housing Company's solicitors have a separate additional set of charges for their involvement, over which your solicitors have no control.

timmyt

Waynefb wrote: »

Hello folks,

I found it hard not to vomit when I got a solicitor's quote for conveyancing. :eek:

I want to sell my one bedroom flat and go on to rent somewhere else. However, it is shared ownership, i.e, I own 55% and a housing company owns the remaining 45%.

I therefore have two questions:

1) Would the shared ownership aspect make conveyancing much more complicated than normal?

2) Could you please refer me to good up-to-date sources of info (books or web) on DIY conveyancing?

Many thanks,
Wayne.

weeks and weeks of their work and you object to their fee of what say £600 plus all the extras they have to pay out on top. £600 is bad?