DIY conveyancing

mrsyardbroom

A neighbour is considering selling us a small piece of land for use as an allotment. We have already used the land for a few years but the owner died recently and his son now owns it. His son hates gardening as much as I love it and he doesn't really want responsibility for the land as it doesn't adjoin the garden to his house.
I would love to buy the land but I know how expensive solicitors can be. I was wondering if anyone had done their own conveyancing for this type of property transfer. If so did you find it relatively straightforward and would you do it again?

mrsyardbroom

I should add to the above that I believe the land will be registered as ownership has to be transferred from the deceased person's estate to the son and I believe you have to register any property now if it's being transferred.

G_M

1) is it registered land? You can check here for £3? Yu may need to do a 'map enquiry'?

2) is the land part of a bigger Title (eg the house) or is it s discrete Title just for the land in question?

Assuming it is registered, and is not part of a bigger Title, transferring the Title to yourself is straight-forward. You'll need:

TR1
AP1
ID1

Documents and guidance here:

https://www.gov.uk/government/publications/registered-titles-whole-transfer-tr1

If it is unregistered, I suggest you use a solicitor.

If this involves splitting an existing Title in half, you'll need drawing to define the land, and a TP1 instead of the TR1.

G_M

mrsyardbroom wrote: »

I should add to the above that I believe the land will be registered as ownership has to be transferred from the deceased person's estate to the son and I believe you have to register any property now if it's being transferred.

Correct, though there is no need to transfer it to the son.

Again, if it's already registered, the Executers of the Estate could sell/transfer it to you and pass the son his cash inheritance.

However in if this is a 1st Registration, then either get the son to register it, and then transfer, or use a solicitor to help you with the 1st Registration.

SailorSam

I've done my own conveyancing for both buying & selling houses but it was over 30yrs ago now. 'Cos i was buying with a mortgage the 'Abbey' insisted i pay their solicitor to double check all the work, at first he tried to make things difficult, i felt he was trying to put me off, but everything went through fairly easy and all i had at the time was books from the library. Today with the help of the Internet it should be easier.

mrsyardbroom

Thank you for your replies. The land is currently part of a bigger title that includes a house but the son will sell it separately. I think he's likely to do his own conveyancing. He hasn't gone through probate yet so he can't do anything until the whole estate is transferred to him. I'll check to see if it's registered. It should be easy enough to separate the land from the main property so that each has a separate title deed. I know someone who has done this herself without any problems. I have done a first registration myself and that was quite straightforward so I can't see that it would cause any problems.

G_M

mrsyardbroom wrote: »

...... I was wondering if anyone had done their own conveyancing for this type of property transfer. If so did you find it relatively straightforward and would you do it again?

I know someone who has done this herself without any problems. I have done a first registration myself and that was quite straightforward so I can't see that it would cause any problems.

Have I missed something here..........?

mrsyardbroom

No you didn't miss anything. The person who is willing to help was selling a house and keeping some land. I am buying land which is a different situation. I don't know how much difference it makes as far as conveyancing is concerned. That's why I asked if anyone had done their own conveyancing when buying land. My friend would be able to help the seller with the splitting of the deeds. She's never done her own conveyancing as a buyer.

G_M

http://www.amazon.co.uk/Which-Guide-Conveyancing-Consumer-Guides/dp/085202813X/ref=sr_1_2?s=books&ie=UTF8&qid=1438196830&sr=1-2&keywords=diy+conveyancing

http://www.amazon.co.uk/Buying-Selling-Conveyancing-Lawpack-Property/dp/1906971803/ref=sr_1_1?s=books&ie=UTF8&qid=1438196830&sr=1-1&keywords=diy+conveyancing

MikeFloutier

http://www.amazon.co.uk/Buying-Selling-Conveyancing-Lawpack-Property/dp/1906971803/ref=sr_1_1?s=books&ie=UTF8&qid=1438196830&sr=1-1&keywords=diy+conveyancing[/QUOTE]

Just reading the reviews of this book:-

"It's only once the reader is deep into the recesses of the chapter on the completion process, more than halfway through the book, when it becomes painfully apparent that you're screwed unless you've got a solicitor acting for you. This is thanks to the inherent protectionism in the system which the author rails against in earlier chapters, but later admits - without even a hint of humble pie - that lay status is a practical barrier for those selling with a mortgage to pay off on their property, or buying with the help of a mortgage (or both)."

Is this true?

G_M

MikeFloutier wrote: »

http://www.amazon.co.uk/Buying-Selling-Conveyancing-Lawpack-Property/dp/1906971803/ref=sr_1_1?s=books&ie=UTF8&qid=1438196830&sr=1-1&keywords=diy+conveyancing

Just reading the reviews of this book:-

"It's only once the reader is deep into the recesses of the chapter on the completion process, more than halfway through the book, when it becomes painfully apparent that you're screwed unless you've got a solicitor acting for you. This is thanks to the inherent protectionism in the system which the author rails against in earlier chapters, but later admits - without even a hint of humble pie - that lay status is a practical barrier for those selling with a mortgage to pay off on their property, or buying with the help of a mortgage (or both)."

Is this true?

Is which bit true?

That the book only explains the detail of Completion halfway through? I don't know, (haven't read it) but it seems possible.

Or that there is "inherent protectionism in the system"? I would not describe it that way.

Or that "lay status is a practical barrier for those selling with a mortgage to pay off on their property, or buying with the help of a mortgage (or both)"? Yes.

You have to understand how mortgages (and Charges on property Title) work, and how conveyancing works. No buyer wants to buy a property with a Charge registered on it. They want 'clean' ownership (other than their own mortgage of course). And early on during the process (before Exchange of contracts) a buyer (or their solicitor) will examine the Title to check the seller genuinely owns the property, AND to check what Charges exist.

Where a Charge is found (ie the seller has a mortgage), the buyer will either want it removed before they buy, or will want an assurance that it will be removed. Most sellers cannot afford to pay off the mortgage - they need to sell the property first, get the sale money, and use that to remove the Charge.

Now, if you DIY your conveyancing, you can say to the buyer "Don't worry. As soon as you give me your £500,000 I will pay off my morgage nd remove the Charge. Honest Injun!"
The buyer will say "You gotta be kidding! How do I know you won't vanish off to Goa with my cash?"

Solicitors, however, belong to a professional body, with codes of conduct and reputations/careers at stake. So the seller's solicitor makes the same promise, not to the buyer but to the buyer's solicitor, who knows he can trust the promise, because it is not made by G_M, but by G_M's solicitor - Trusty, Lawful & Reliable.

So in brief, DIY selling only works if:
* there is no mortage or
* the seller can pay off the mortgage before he receives the sale money at Completion.

edit: Paying over the £500K cash to a DIY seller is also unwise before Exchange of Contracts. This happened to me last time I sold and I tell you, Goa was tempting.......! But that's another story.