Selling house and completing private purchase. What kind of solicitor service do we need?

rich1012

We have accepted an offer to sell our house via an estate agent. The sale of the house is going through solicitors.

Once we have paid off our mortgage and all other fees we at left with some money which we are using to buy (with no mortgage) a flat from a close family member which may be as simple as changing the owner of the property.

What would people do? Use 1 solicitor for sale and purchase or keep them separate?

Do we occur any taxes or “hidden fees” if we decide to sell and buy in a particular way?

thanks 

Flugelhorn

I would use the same solicitor - no reason not to, are you planning to do the sale and purchase at the same time so you can move straight from one property to the other?

After the sale the money will go to the solicitor, they pay off the mortgage then move the money along to the new sale - easier if it is the same person

The fees are the stamp duty which you pay on the purchase, with a flat it is also likely to be leasehold so there is some extra work there - not just changing names on the registry. 

Hoenir

rich1012 said:

 which may be as simple as changing the owner of the property.

And if something important was overlooked in the process. Would you happily shoulder the blame and any subsequent financial loss? 

eddddy

You'd typically sell and buy using the same solicitor.

However, if you know all about the flat you're buying and you're happy with it - you could tell your solicitor that you don't need searches, a management pack, TA6, TA7 etc. Just a simple transfer (plus serving notices on the freeholder etc).