How best to action a private house sell?

gaz123456789

Hi

I am going to be selling my property to a familiy member in order to be a cash buyer for a property I'm going for.  Along with other gifts and investments I have, there will be no mortgage and a small loan from the family member as well.
In terms of facilitating this, is it possible to do the private sell without a solicitor?  I see a TR1 and i think AR1 is needed to transfer the property from my name into the family members name, edit: its a ltd co.  Alternatively a solicitor will be needed, but I'm not sure they will add any value here?  Additionally as its a private sale, I've had one solicitor say they are not willing to act on behalf of myself and my family at the same time, due to disclosable interest, which i find odd, as it will be a cash sale to them.
Any pointers before I instruct my solicitor to buy and sell and help find a solicitor for my family to buy.

Thanks

EssexHebridean

Depends - are you/your family member trained and capable of reading and understanding all the legal paperwork, interpreting what any clauses or covenants in the title might mean, are you as the seller able to deal with putting together the contract pack and answering enquiries from the buyer (your family member)? If so, then it probably still isn’t advisable (there is a good reason why solicitors tend not to act on their own property purchases) but if you must, fill your boots. Alternatively, you might take the view that a property sale involves quite a large sum of money, you as seller are already saving yourself probably several thousand pounds in agents fees, so in fact almost certainly sub-£1.5k of legal fees might just be a reasonable price to pay for ensuring that the transaction is completed efficiently and with both your and your buyers interests looked out for.

SiliconChip

I suspect that the buyer being a limited company is likely to mean that they will need a solicitor anyway, and for what is a relatively small sum it would be wise for you to have one too. I doubt if you'll find any solicitor that would be prepared to act for both parties.

Yorkie1

As above, solicitors have professional rules relating to acting for both sides of a property transaction. Those rules in practice mean that solicitors won't do it.

user1977

Yorkie1 said:

As above, solicitors have professional rules relating to acting for both sides of a property transaction. Those rules in practice mean that solicitors won't do it.

One option would be for the solicitors to act for one side, and the other be unrepresented. Some solicitors may still be reluctant to do it (fear of complaints about them misleading the unrepresented party, or just the hassle of having to talk them through things without giving advice).