Selling my house - Cash buyer
Discussion
Can anyone explain to me what I need to do if someone wants to pay cash for my house? There are no estate agents involved here either.
Do I just need to have an solicitor create the sale contract, accept the deposit, set the handover date and handle the money transaction on my behalf?
I've never sold a house before, therefore I actually do not know the process!
Do I just need to have an solicitor create the sale contract, accept the deposit, set the handover date and handle the money transaction on my behalf?
I've never sold a house before, therefore I actually do not know the process!
I'm sure other people have a better answer, but I'm just doing this with an apartment in the UK. Even though I've sold it to a friend we're paying a local, well respected estate agent to handle the transaction - basically paying for their expertise in this field and dealing with solicitors etc. Very happy with the amount I'm paying to know everything will be covered properly.
Petrus1983 said:
I'm sure other people have a better answer, but I'm just doing this with an apartment in the UK. Even though I've sold it to a friend we're paying a local, well respected estate agent to handle the transaction - basically paying for their expertise in this field and dealing with solicitors etc. Very happy with the amount I'm paying to know everything will be covered properly.
What? Seriously? That agent must be laughing his rocks off!Rich_AR said:
Can anyone explain to me what I need to do if someone wants to pay cash for my house? There are no estate agents involved here either.
Do I just need to have an solicitor create the sale contract, accept the deposit, set the handover date and handle the money transaction on my behalf?
I've never sold a house before, therefore I actually do not know the process!
Strictly speaking you don't need to involve anyone else (as no loan is involved), but common sense says to employ the services of a solicitorDo I just need to have an solicitor create the sale contract, accept the deposit, set the handover date and handle the money transaction on my behalf?
I've never sold a house before, therefore I actually do not know the process!
Petrus1983 said:
I'm sure other people have a better answer, but I'm just doing this with an apartment in the UK. Even though I've sold it to a friend we're paying a local, well respected estate agent to handle the transaction - basically paying for their expertise in this field and dealing with solicitors etc. Very happy with the amount I'm paying to know everything will be covered properly.
Wow.Petrus1983 said:
I'm sure other people have a better answer, but I'm just doing this with an apartment in the UK. Even though I've sold it to a friend we're paying a local, well respected estate agent to handle the transaction - basically paying for their expertise in this field and dealing with solicitors etc. Very happy with the amount I'm paying to know everything will be covered properly.
Really? Why wouldn't you just both pay a solicitor each to deal with it? The agent will be telling this tale until they retire!Rich_AR said:
Can anyone explain to me what I need to do if someone wants to pay cash for my house? There are no estate agents involved here either.
Do I just need to have an solicitor create the sale contract, accept the deposit, set the handover date and handle the money transaction on my behalf?
I've never sold a house before, therefore I actually do not know the process!
Yes, you each instruct a solicitor and tell the other person who they are. Then the searches and so on should be done, contracts exchanged and away you go.Do I just need to have an solicitor create the sale contract, accept the deposit, set the handover date and handle the money transaction on my behalf?
I've never sold a house before, therefore I actually do not know the process!
You need a solicitor/conveyancer. Just had a quick chat with the mrs who used to do this stuff.
The searches and valuation etc is on the head of the buyer rather than the seller, so it's up to them to do it.
The land registry bit and contract exchange is the legal requirement, but it needs the contract documents of a sale and purchase to be completed to satisfy the land registry. Solicitor will sort that. You don't need an estate agent.
She said other legally type things as well that went over my head and, seeing the blank expression of my eyes, summarised as "you need a solicitor".
The searches and valuation etc is on the head of the buyer rather than the seller, so it's up to them to do it.
The land registry bit and contract exchange is the legal requirement, but it needs the contract documents of a sale and purchase to be completed to satisfy the land registry. Solicitor will sort that. You don't need an estate agent.
She said other legally type things as well that went over my head and, seeing the blank expression of my eyes, summarised as "you need a solicitor".
Edited by Paul O on Saturday 19th July 23:12
Petrus1983 said:
I'm sure other people have a better answer, but I'm just doing this with an apartment in the UK. Even though I've sold it to a friend we're paying a local, well respected estate agent to handle the transaction - basically paying for their expertise in this field and dealing with solicitors etc. Very happy with the amount I'm paying to know everything will be covered properly.
An idiot and his money are easily parted. I've bought and sold regularly over the past few years. At least twice its been without an agent, and in one case just an auction company rather than an agent.
Agents don't add any value once the sale is agreed.
All you need is a solicitor. As you know the buyers I would recommend using the same firm solicitors (it just needs to be a different partner). That way things should move quickly.
Agents don't add any value once the sale is agreed.
All you need is a solicitor. As you know the buyers I would recommend using the same firm solicitors (it just needs to be a different partner). That way things should move quickly.
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