DIY Property Conveyance
DIY Property Conveyance
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Martin-G

Original Poster:

136 posts

124 months

Sunday 1st December 2019
quotequote all
I have a rental flat, let out on an assured shorthold tenancy, that my brother wants to buy off me. He is a cash buyer and although there is currently a mortgage and associated charge on the property, there isn’t that much outstanding and I can redeem the mortgage and remove the charge prior to the sale.
He knows the property is happy with it, has seen all my purchase conveyance documents (over 10 years ago) and is happy to buy as it is with the sitting tenant, without the need for searches, survey, EPC etc, etc.
I have no experience of DIY conveyance and am struggling to find anything other than advice not to DIY it on the Internet. But I don’t see the point of asking each other lots of silly questions via a two third parties (given that we would both need representation).
Given the specific circumstances how difficult can it be? To my mind we just transfer funds between us and register the change of ownership with Land Registry. Possibly with a boiler plate contract of some sort, though I don’t even see the need for that beyond perhaps documenting the sale for evidential purposes should HMRC make enquires on either of us at some future date.
What do you think? Am I missing anything? Anyone know of a good guide to the process?

Cheers

Mr-B

5,012 posts

223 months

Sunday 1st December 2019
quotequote all
Land registry website should be your first port of call.

You won't be able to transfer it with the mortgage still outstanding, you will have to pay that off and get the lender to remove their charge first. The transfer after that is definitely doable. Fixed price conveyancing might be worth looking into, for the sake of getting it done professionally with no comeback and saving your own time.