DIY Conveyancing - Selling My house to My business

kev4022

As the title suggests; are there any known step by step conveyancing guides for selling my house to my business?

The house is inherited, freehold with no mortgage. The plan is for my business to buy the property for the inherited value then knock it down and build a block of flats. I've approached several licensed conveyancers who all state they can only act on behalf of either the buyer or the seller, effectively doubling the fees.

I've heard DIY conveyancing is possible, but is it possible in my case where I am both the buyer and seller? All the 'step by step' guides explain how DIY conveyancing is a terrible idea then provide links to get 'free' quotes....

With all the other fees I'm having to pay I could really do with a win here, any help is much appreciated!

Regards

Kev

davidmcn

What's your plan for the block of flats? There's presumably going to be a significant amount of conveyancing needed after you transfer to your business, so it would be best to get it right from the start. Why not appoint a conveyancer to act for your business in the purchase from you? There's no legal reason why you as an individual need to be represented.

AdrianC

Most of conveyancing is backside-covering for the buyer's protection, ensuring they get what they think they're getting. And that's why they won't act for both sides - because it's a conflict of interest, when you view it in that context.

If you don't need that, because you're effectively buying off yourself, then all you really need to do is the LR transfer and the SDLT paperwork. Have you been living in the property? How long has it been in your ownership? You say you want the business to pay the "inherited value" - is that lower than the current market value?

The other option, of course, would be for you to contract the business to do the development on your behalf - a fairly straightforward customer relationship, albeit between related parties.

Mutton_Geoff

kev4022 wrote: »

As the title suggests; are there any known step by step conveyancing guides for selling my house to my business?

The house is inherited, freehold with no mortgage. The plan is for my business to buy the property for the inherited value then knock it down and build a block of flats. I've approached several licensed conveyancers who all state they can only act on behalf of either the buyer or the seller, effectively doubling the fees.

I've heard DIY conveyancing is possible, but is it possible in my case where I am both the buyer and seller? All the 'step by step' guides explain how DIY conveyancing is a terrible idea then provide links to get 'free' quotes....

With all the other fees I'm having to pay I could really do with a win here, any help is much appreciated!

Regards

Kev

In which case you will have a future need for ongoing legal & tax support when you build and sell on those properties. Why not seek out and employ a professional now? If there are convenants etc, the solicitor/conveyancer can advise you how these might relate to future sale of the flats etc. There is potentially so much money at stake, I think it's false economy to try to do it yourself. Besides, I expect you'll be busy with the architects & planners etc.

G_M

Which? Guide

Bradshaws Guide

or for professionals

Check publication dates as forms and procedures change periodically.

You could probably skip most searches as you know the building, and even skip the Contract stage since neither buyer nor seller is likely to rip off the other!

Or go staight to submitting to Land Registry forms
* TR1
* AP1
* ID1

See Gov Guide here

For SDLT, see Gove guide here.

Provided A passes £ to B an B passes property to A should be fine. Though your company may need the contract to show for annual accounts?

You'll need a solicitor later to create leases for the flats as well as separate Titles for each.

eddddy

kev4022 wrote: »

I've approached several licensed conveyancers who all state they can only act on behalf of either the buyer or the seller, effectively doubling the fees.

Have you been asking "conveyancing factories"?

They often have fixed standard processes, and won't take on anything "non-standard".

Maybe explain what you want to do to some more 'traditional' conveyancing solicitors. You might get more sensible responses.

FWIW, I guess you just want to do the transfer - no searches, no pre-contract enquiries, no contract etc. So it should cost much less than regular conveyancing.