Selling to cash buyer without EA. What next?

stalkah

Hi All,


Just accepted an offer on my house from a cash buyer, (the house isn't listed with any estate agents).


Could someone advise what the next steps would be, do I need to instruct a solicitor first or wait for them to start the ball rolling?


Can I use the same solicitors as them? If so is this likely to save costs?


Thanks in Advance

eddddy

(I'm assuming the title should be 'without EA')

Yes - you need to get quotes from solicitors and instruct one.

You can't use the same solicitor as the buyer - there would be a conflict of interest.

In theory, you could use a different solicitor at the same firm, but many people would say that's a bad idea.

The solicitor will want all the details of the transaction (price agreed, buyer's name, buyer's solicitor etc), but they'll probably give you form to fill in for that.

stalkah

Yes the title should be "without" in my excitement and haste missed the "out"

Thanks for the info will give a few of the local firms a call tomorrow.

Anyone have any recommendations for an online only one?

Thrugelmir

Are you planning on buying another property yourself?

stalkah

Not straight away, we will be in about 6 months

stalkah

I've managed to amend the title now

Does anyone have any recommendations for an online solicitor? Or is it best to stay local?

eddddy

stalkah wrote: »

Anyone have any recommendations for an online only one?

I'm sure there are many good online only conveyancers, but you tend to hear more 'moans' about online conveyancers than conventional solicitors.

Also, because you don't have an EA (and perhaps you don't seem 100% sure about the selling process), it might be good to have a friendly, competent, easily contactable solicitor on your side.


Edit to add...

I assume that most solicitors will send/receive correspondence by email, scan documents etc, if that's what you want - my solicitor certainly does.

Only docs that require original signature(s) need to be posted / delivered.

kingstreet

One thing an EA does on agreement of an offer is issues a Memorandum Of Sale.

This sets out;-

Property address

Purchase Price

Anything included - carpets, curtain, light fitting in second bedroom etc

Vendor's name and address

Vendor's solicitor's full contact details inc person acting

Purchaser's name and address

Purchaser's solicitor's full contact details inc person acting.

It would be helpful if the vendor could prepare this and issue a copy to each party and each solicitor. Then everyone knows who everyone else is and the details of the sale.

Vendor needs to instruct solicitor before doing this, to enable solicitor to request title information for draft contract.

OP - you may be able to use same firm, but different offices or individuals. This would not save you anything and should be avoided, however small the risk of conflict of interest.