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Selling without a solicitor/conveyancer
helen1996
Posts: 1 Newbie
We (tenants in common) are selling a leasehold property back to the leaseholder/freeholder, no legal charge or mortgage is on the property....is much paperwork involved? Can we do our own conveyancing....is there just the contract and TR1 to really worry about? Comments and help please!!
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I assume you are the leaseholder.We (tenants in common) are selling a leasehold property back to the [STRIKE]leaseholder?[/STRIKE]/freeholder, no legal charge or mortgage is on the property....is much paperwork involved? Can we do our own conveyancing....is there just the contract and TR1 to really worry about? Comments and help please!!
In a sale, the most critical aspect is ensuring that you receive the money.
If there is no mortgage, there is no need for a 'solicitor's undertaking' to redeem post-completion with the sale funds.
So it is pretty straight forward.
You'll need to draft the contract. The buyer (or his solicitor) will draw up the TR1.
Some solicitors act funny when dealing with DIY buyers/sellers, so be prepared for the other side to present difficulties.
Offer to attend their offices for Exchange of Contracts and/or Completion.
Get a book. I hven't done it myself for some years and the process has changed a bit, so use a book that was not published too long ago.
http://www.amazon.co.uk/Buying-Selling-Conveyancing-Lawpack-Property/dp/1906971803/ref=sr_1_1?s=books&ie=UTF8&qid=1416080903&sr=1-1&keywords=diy+conveyancing
http://www.amazon.co.uk/Which-Guide-Conveyancing-Consumer-Guides/dp/085202813X/ref=sr_1_2?s=books&ie=UTF8&qid=1416080974&sr=1-2&keywords=diy+conveyancing0 -
Quite a few years ago now, long before i had the Internet to help me i both bought and sold freehold houses just using books from the library, they all said that selling was the easy part, the only thing you needed to worry about was getting the money, if any of the paperwork had gone wrong that was for the others to sort out.
I agree with GM the solicitors didn't like the idea of me doing it myself.Liverpool is one of the wonders of Britain,
What it may grow to in time, I know not what.
Daniel Defoe: 1725.
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