Help regarding selling my house and Estate agents

Mrnkar_2

Hi, I own my house and have the deeds in my possession. My daughter is selling her house in order to buy mine, as it's bigger. She will have a mortgage on it.
I am going to get it valued but obviously it won't be advertised for sale.
Do I still need an estate agent and solicitor to enable me to do this or what advice can people give me as the best way to go about things. Thank you

MaryNB

You don't need an estate agent 

Your daughter's lender will insist she gets a solicitor to act on their behalf. She may be able to do the conveyancing for her interest herself, and you may be able to do your own conveyancing, it's legal. Just depends how well you both know the process and ensuring you both get it right. 

canaldumidi

You say you have the deeds. Does this mean the property is unregistered?

If unsure, check here.

Grabs39

An estate agent's job is to market a house, then agree sale terms.  So you don't need one as you already have a buyer and presumably will agree terms directly with your daughter.

Your daughter will need to have the house valued for the mortgage anyway.  A surveyor appointed by her bank/building society will do this.

You would normally each need a (different) solicitor.  You can do it yourself for your side but I wouldn't.  Legals for a simple sale aren't normally that expensive.

Mrnkar_2

canaldumidi said:

You say you have the deeds. Does this mean the property is unregistered?

If unsure, check here.

No. I was given the deeds by my lender when I paid off the mortgage

Mrnkar_2

Grabs39 said:

An estate agent's job is to market a house, then agree sale terms.  So you don't need one as you already have a buyer and presumably will agree terms directly with your daughter.

Your daughter will need to have the house valued for the mortgage anyway.  A surveyor appointed by her bank/building society will do this.

You would normally each need a (different) solicitor.  You can do it yourself for your side but I wouldn't.  Legals for a simple sale aren't normally that expensive.

Thanks. I'm meant to add that I'm not buying another property at the moment either.

p00hsticks

Mrnkar_2 said:

Grabs39 said:

An estate agent's job is to market a house, then agree sale terms.  So you don't need one as you already have a buyer and presumably will agree terms directly with your daughter.

Your daughter will need to have the house valued for the mortgage anyway.  A surveyor appointed by her bank/building society will do this.

You would normally each need a (different) solicitor.  You can do it yourself for your side but I wouldn't.  Legals for a simple sale aren't normally that expensive.

Thanks. I'm meant to add that I'm not buying another property at the moment either.

So where will you be living ? The mortage comany may have an issue if the intention is for you to remain in the house along with your daughter.  If the property is not (or has not always been) your main residence, then you'd probably be advised to pay to get an independent RICS valuation done to satisfy HMRC that you have used the correct market value when calculating if any Capital Gains Tax is due on the sale.

martindow

Mrnkar_2 said:

canaldumidi said:

You say you have the deeds. Does this mean the property is unregistered?

If unsure, check here.

No. I was given the deeds by my lender when I paid off the mortgage

If you have a pile of paperwork it may be registered or unregistered - use the link provided by canaldumidi above to check.  Buying houses within the  few decades triggered registration. 

If your house has not been sold for many years it may need registration.  The implication of that is that it is very sensible to let a solicitor do this.

Mrnkar_2

p00hsticks said:

Mrnkar_2 said:

Grabs39 said:

An estate agent's job is to market a house, then agree sale terms.  So you don't need one as you already have a buyer and presumably will agree terms directly with your daughter.

Your daughter will need to have the house valued for the mortgage anyway.  A surveyor appointed by her bank/building society will do this.

You would normally each need a (different) solicitor.  You can do it yourself for your side but I wouldn't.  Legals for a simple sale aren't normally that expensive.

Thanks. I'm meant to add that I'm not buying another property at the moment either.

So where will you be living ? The mortage comany may have an issue if the intention is for you to remain in the house along with your daughter.  If the property is not (or has not always been) your main residence, then you'd probably be advised to pay to get an independent RICS valuation done to satisfy HMRC that you have used the correct market value when calculating if any Capital Gains Tax is due on the sale.

Thanks. Yes it is my main residence and not buying another as renting abroad. I am getting an independent valuation. The valuation will be well below the Capital Gains limits but thanks for your information

Mrnkar_2

martindow said:

Mrnkar_2 said:

canaldumidi said:

You say you have the deeds. Does this mean the property is unregistered?

If unsure, check here.

No. I was given the deeds by my lender when I paid off the mortgage

If you have a pile of paperwork it may be registered or unregistered - use the link provided by canaldumidi above to check.  Buying houses within the  few decades triggered registration. 

If your house has not been sold for many years it may need registration.  The implication of that is that it is very sensible to let a solicitor do this.

Thanks. I have owned the house for 30 years. I checked the link and photo is what it says but I'm non the wiser of it means it's registered or not?

martindow

I think that means it is not registered and they have nothing for you to download.  When I search for my house which I inherited in 2009 it says

Please purchase the title register to see the price paid/ value stated for this property

instead of the

Sorry, there is no ... message that you have.

Providing your stack of documents that you have is in order, the solicitor will be able to make the first registration so that the house can be sold.  I had to pay an additional £100 to the solicitor.