Land purchase question

Bradders72

Hi All, hopefully this question is in the right place...I couldn't really find a more applicable forum...

I am buying some land at the back of my house from the local housing association, 125 Sq metres (if that matters), we have agreed a price following a surveyor valuation. We are now at the point of organising the transfer of title and the housing association have asked if I will be appointing a solicitor to do searches and provide advice etc. They have their own solicitor to do the transfer.

I have lived at my current address for 17 years and this land has always just been a surplus odd shaped patch of land adjoining my rear garden and neighbouring HA properties. The HA cuts the grass but it's never been used and it not part of any HA property garden.

My question is do I really need to appoint a solicitor ? This land has never been attached to property and so wouldn't have charges against it etc....it adjoins my rear garden so any utilities under it are likely to be the same as my own garden etc. I want to ensure adequate protection but I just think that it seems like overkill to appoint a solicitor when dealing with a reputable HA for land that has a value of less than £4k.

Does anyone have any Nuggets of experience to share ?

Much appreciated

Mark

G_M

You could do the conveyancing yourself .

But the more complex the transfer, the less easy it becomes:

* are you getting a mortgage?
* do you intend to merge this land into the existing Title of your property, or own it separately?
* Is the land currently registered or unregistered?
* Does the land form part or a bigger plot, which needs to be split?
* is the land subject to any covenants? Or will it be?
* are you buying it freehold or leasehold?

https://www.amazon.co.uk/Which-Guide-Conveyancing-Consumer-Guides/dp/085202813X/ref=sr_1_1?s=books&ie=UTF8&qid=1464873427&sr=1-1&keywords=diy+conveyancing

davidmcn

Bradders72 wrote: »

This land has never been attached to property and so wouldn't have charges against it

Even that seems a dangerous assumption to make - the land is property, and the HA might have borrowing secured over everything they own.

Don't be misled into thinking that the low value of the land makes it straightforward, these things can involve more conveyancing than a "normal" transfer of an existing title.

moneyistooshorttomention

Watching with interest....

Mallotum_X

We bought some garden land from a neighbour a few years ago, just had one solicitor who dealt with the transfer, which I paid for as we were buying the land.

Bradders72

Thanks for the input so far...

In answer to some of the points mentioned;

No mortgage
For ease I intend to own this under separate title
The land is registered
The land is part of a bigger plot, the HA solicitor will deal with the split of the title
The land has no covenants, this has already been checked by the HA legal team
Land is freehold

I will be paying for the legal costs of the HA hence why I wasn't too keen to incur double costs...but also didn't want to expose myself to too much risk.

Thanks

Mark

eddddy

To help your decision process, you could ask a few solicitors for quotes for doing the conveyancing - so you know how much you might be paying/saving.

G_M

The ticks make it easier.

Bradders72 wrote: »

No mortgage tick
For ease I intend to own this under separate title tick
The land is registered tick
The land is part of a bigger plot, the HA solicitor will deal with the split of the title semi-tick. Relying on the seller is unwise. You'll need to check this both on the Plan, and on the contract & TP1.
The land has no covenants, this has already been checked by the HA legal team Relying on the seller is unwise.
Land is freehold tick

So some of the potential complexities do not arise.

Buy/borrow a book and learn what's involved. Then decide if you feel up to it.

Bradders72

Thanks again for the info....I've now got a quote in from one solicitor which is £750 + vat plus disbursements...given that the land is only costing me £3750 this is steep at 25% of purchase price.

Thanks for the link to Diy conveyancing for dummies....I'll have a look at that and will see if I can get an ebola version.

I've paid for the title searches from the land registry and can confirm that, subject to my understanding of legal jargon there appear to be no relevant covenants attached to the land.

On the subject of the purchase would I need to pay any form of tax on the purchase price of £3750 ?

Thanks again...I like the ratio of ticks to semi ticks so far

Mark

G_M

£750 + does seem expensive. You could shop around, or go back and haggle. However the cost might be up because it involves splitting an existing Title.

Not sure if you'll be hit by the new 2nd property SDLT rules ........ In legal parlance 'land' = 'property' so if you hold it as a separate Title you might get caught. But SDLT on £3750 shouldn't break the bank!

AnotherJoe

Bradders72 wrote: »

Thanks again for the info....I've now got a quote in from one solicitor which is £750 + vat plus disbursements...given that the land is only costing me £3750 this is steep at 25% of purchase price.

Thanks for the link to Diy conveyancing for dummies....I'll have a look at that and will see if I can get an ebola version.

I've paid for the title searches from the land registry and can confirm that, subject to my understanding of legal jargon there appear to be no relevant covenants attached to the land.

On the subject of the purchase would I need to pay any form of tax on the purchase price of £3750 ?

Thanks again...I like the ratio of ticks to semi ticks so far

Mark

Japanese knotweed is one thing but Ebola seems a bit drastic !

In your place id probably use a solicitor but not bother with searches, which might cut the cost of the solicitor as well as no charge for the searches.