Conveyancing (via Purplebricks)

Bossypants

pazza2000 wrote: »

I certainly will, at the same time the purchase price for this property is very small and I’m aware of most of the details and the seller himself is a person of good repute. I don’t want to invest a large amount in solicitor fees if it’s unnecessary.i appreciate I am maybe contradicting myself a little here.

It is necessary. A reasonably intelligent lay person can do the conveyancing to sell a property, if they have the time and inclination, but should never attempt to do the conveyancing on a purchase. With a sale, if a mistake is made, the worst that can happen is that that particular sale is scuppered. With a purchase, one mistake could land the buyer (you) with a nightmare of a property, for all kinds of reasons. The seller's reputation has nothing to do with it, they may not even be aware of problems with title, etc. A solicitor has training, and insurance if something goes wrong. You want that.

[Deleted User]

pazza2000 wrote: »

I certainly will, at the same time the purchase price for this property is very small and I’m aware of most of the details and the seller himself is a person of good repute. I don’t want to invest a large amount in solicitor fees if it’s unnecessary.i appreciate I am maybe contradicting myself a little here.

You do have the option of not doing the searches when there is no mortgage involved. Obviously not a good idea to cut corners at all with something like this but if you are intent on taking the risk then that's an option.
I have a client I am remortgaging other properties to allow him to be a cash buyer on a new purchase. He has, against advice, decided to forgo the searches and his purchase bill is around £700 for a high street conveyancer

Slithery

I'm not sure if it's the same in Scotland but in England it's no longer possible to do the conveyancing yourself due to the tightened money-laundering and ID checks.
https://forums.moneysavingexpert.com/discussion/6052443/purchasing-land
https://forums.moneysavingexpert.com/discussion/5907529/self-conveyancing-an-auction-land-purchase

abz88

There is no benefit in going through Purple Bricks. As others have said, they are an estate agent. You would be paying them to note interest and make an offer on a property. Which are all things you can do yourself.
I would suggest, however, you go through a local solicitor (get some quotes, they won't be that expensive for a small property). Yes, you can go the conveyancing yourself, but do you really know what to look out for in title deeds? How to register everything correctly, how to check there are no restrictions on the property, or that it has been registered correctly in the past?

As Bossypants has said, selling a house is one thing but buying it is different as you are the one stuck with it in the end. The solicitor can also handle noting and interest and making the formal offer for you btw.

I would consider myself to have more knowledge than the average lay person (I have a law degree and studied conveyancing), but I have had a solicitor carry out the conveyancing on my flat and then house. Even solicitors I went to Uni with and now practice, the only ones that have done their own conveyancing are the ones that are conveyancing solicitors. The ones that practice in Corporate, Claims, Private Client, Sector specific solicitors etc all get the conveyancing solicitors at their firm (or someone else they know) to do it for them.

EDIT: From Citizens Advice "In Scotland if you are buying or selling a house you must use a solicitor or an independent qualified conveyancer", so it is now a legal requirement.

pazza2000

Thanks, very helpful! For my benefit, it’s clearly a good thing it’s a legal requirement. I’ll reach out to a few local solicitors re. their conveyancing fees and noting I’m a cash buyer. In terms of submitting of them submitting offer via PB, is that a separate paid for service or I can simply do it and reach out to them for the paperwork etc only once and if the offer has been accepted via PB? Thanks

kinger101

PB will probably try to recommend a conveyancer to you. Under no circumstances should you use them. They'll be awful.

abz88

pazza2000 wrote: »

Thanks, very helpful! For my benefit, it’s clearly a good thing it’s a legal requirement. I’ll reach out to a few local solicitors re. their conveyancing fees and noting I’m a cash buyer. In terms of submitting of them submitting offer via PB, is that a separate paid for service or I can simply do it and reach out to them for the paperwork etc only once and if the offer has been accepted via PB? Thanks

Have the solicitor submit the offer, there is really no benefit in you as a buyer going through purple bricks. Individual solicitor's will vary but usually they will include a set amount of offers in your fee (to cover the fact that you might be unsuccessful on one property and try for anorher). It should be detailed in the quote they send. The fee is usually paid on settlement though, not up front.

They should also talk to you about what your offer includes (things like white goods, any furnishes being left behind etc), they might ask for guarantees on works done, have it subject to certain conditions and other bits and pieces you wouldn't think of.

davidmcn

abz88 wrote: »

EDIT: From Citizens Advice "In Scotland if you are buying or selling a house you must use a solicitor or an independent qualified conveyancer", so it is now a legal requirement.

It isn't. They possibly mean that those are the only people who can charge you for advice. And you may well encounter some resistance from the other party's solicitor (particularly if you're buying as they'll want to be satisfied your funds satisfy anti-money-laundering requirements). But no general prohibition against doing your own conveyancing.

abz88

davidmcn wrote: »

It isn't. They possibly mean that those are the only people who can charge you for advice. And you may well encounter some resistance from the other party's solicitor (particularly if you're buying as they'll want to be satisfied your funds satisfy anti-money-laundering requirements). But no general prohibition against doing your own conveyancing.

I thought that was the case until I came across the Citizens Advice page. I had assumed it was a result of the 2017 AML rules, but it appears you are correct and it is still technically possible for a cash buyer (I can't see a mortgage provider agreeing to it). I still don't think its worth it to save £300-500 when if you get it wrong it could cost tens of thousands with no recourse to anyone (let the buyer beware!)

kinger101

abz88 wrote: »

Have the solicitor submit the offer, there is really no benefit in you as a buyer going through purple bricks. Individual solicitor's will vary but usually they will include a set amount of offers in your fee (to cover the fact that you might be unsuccessful on one property and try for anorher). It should be detailed in the quote they send. The fee is usually paid on settlement though, not up front.

They should also talk to you about what your offer includes (things like white goods, any furnishes being left behind etc), they might ask for guarantees on works done, have it subject to certain conditions and other bits and pieces you wouldn't think of.

(a) It's normal for buyers to submit offers. Not solicitors. Getting the solicitor to submit it achieves nothing.

(b) In any event, for PB, all others are submitted directly to the vendor through their online portal. The offer is then accepted or rejected by the vendor. PB can rarely be bothered to get involved in negotiation or sales progression.