Using a solicitor to sell and buy

katylu88

Ok, but the solicitor will be splitting the money from the sale between me and my mum, so we will be going halves on the fees on the sale?

babyblade41

just tell your solicitor how much of your share will be for the deposit and they will pass on the rest after their fees have been paid

diggingdude

This really is the most simple process. speak to the solicitor, if their answer isn't a straight "sure thing no problem" find a new solicitor

da_rule

It’s really not as complex as you are imagining it to be.

You are jointly selling one property, so all of the costs as well as the proceeds of sale will be split.

You are then buying a property in your sole name and only using part of the proceeds of sale towards your purchase. Therefore any remaining funds once you’ve paid your stamp duty, purchase legal fees, deposit and your share of the selling legal fees will be transferred back to you. Your mum will get the full amount of her share transferred to her (less her share of the selling legal fees).

It’s identical to a divorcing/separating couple or someone simply downsizing to a cheaper property.

katylu88

Yeah I’ve now spoken to the solicitor and gone through the process with her. I’ve never sold/bought a house before so I just wanted the process clear in my head.