Sale process - transfer of title deeds

rtg1969

Hi,

Can anyone help me? At what stage of the process do I sign and send off the transfer of title deeds? Im being requested to do this prior to completion and with the signing of agreement. Im reluctant to sign saying I have received funds when I havent yet... this is a private sale so Im sending paperwork to buyer to be forwarded to solicitor.

Thanks

clutton_2

why can't you send these important docs to the buyer's solicitor directly ?

i agree with your hesitations re signing to say you have had funds if you had not

rtg1969

Its with a company that provides quick sales. So am supposed to forward all documentation to the buyer who then is going to forward to solicitor/s. I just thought the transfer of title would only be signed at the end.. I havent signed or sent yet. Didnt want to appear paranoid but just seems obviously wrong to sign that I have recieved funds! I did ask and was told that would be kept on file till end. Thanks.

ajaxgeezer

I dare say these things happen all the time with no trouble but if it were me, no matter what the circumstances, I'd have a solicitor on "my side" and would only send paperwork to him/her.

clutton_2

i absolutely go along with ajax - most "quick sales" companies pay for your solicitors fees for you.


""I did ask and was told that would be kept on file till end"

This sounds very suspicious to me from someone who is not a solicitor - get them to provide you with your own solicitor - or get one for youself - you risk losing a lot if they are scamming you.

rtg1969

Thanks so much for the advice! really appreciated. I thought I would be given the option to get my own solicitor but all went very quick and wasnt offered. I know I can ask, but part of me is saying if Im having doubts maybe I should go with someone else.. but then dont want be paranoid, but its my home and only asset I have & in a financial pickle so not thinking clearly. I was also concerned the house was to be put in his wifes name (whom I havent met and dont even know if she works for the company) apparently for tax reasons? Anyway alarm bells were ringing, I may be completely over reacting but better safe than sorry. Thanks for the help.

ajaxgeezer

The more I hear about this, the less I like it. Your concern isn't paranoia, it's calm thinking in a difficult situation.

Assure your buyer that there is no problem with the sale or the price, but you'd like a conveyancer on board, and will be acting as quickly as is possible. It will slow things down a little, but it's better than any risk of losing the lot.

ZCC72

As it is a private sale, I would not normally recommend sending the Transfer to the buyer before completion. It would be reasonable to do this only once the monies are in your account, or alternatively, send it to the buyers solicitors, with the request that they "hold it to your order pending release" from yourself.

You say it is a private sale, but that it is with a company that deals with quick sales? Is it one of these "guarantee to buy your house" companies, rather than a private individual? If so, then (a) the solicitors are probably in-house; and (b) you are most likely going to have to comply with their requirements and complete, or not, and don't. I would look to see if they are regulated by The Law Society - if so, you at least have some recourse, if not peace of mind, if not regulated, hard to say.

However, put yourself in their shoes - they are sending over £xk to a random individual, who may or may not sign the TR1 and send it back to them. Any number of things could prevent you from sending it, despite all your best intentions, and they are then left with no property and a lot less money!!

Also, do you have a mortgage on the property? If so, you will need to arrange for this to be redeemed on the day of completion, and provide the buyers solicitors with the discharge documents, as the property should be sold free from incumbrances. They will also need some form of undertaking that this will be paid before releasing the funds.

I am also confused as to who drafted the contract, as it should have been you/your representatives, but that's a whole separate issue!!.

Long story short - instruct solicitors to act on your behalf!!

Hope this helps!

Richard_Webster

Yes, I agree. Normally your solcitor would send you the transfer deed for signature so he could have it back in his file ready for completion and that would be sent to the buyer's solicitors when your solicitor had received the money.

So get a solicitor.

clutton_2

or make the quick sale company agree to pay for your solicitor

ajaxgeezer

clutton wrote: »

or make the quick sale company agree to pay for your solicitor

as clutton's said before, this is the norm with bona fide sales of this type.