DIY conveyancing
Discussion
Is this possible, easy or a nightmare?
My son is buying a dilapidated garage for less than £2k, it seems silly both parties spending £700/800 each on legal fees on such a low value transaction. It’s a leasehold garage which probably slightly complicates things, anyone done their own? Thanks
My son is buying a dilapidated garage for less than £2k, it seems silly both parties spending £700/800 each on legal fees on such a low value transaction. It’s a leasehold garage which probably slightly complicates things, anyone done their own? Thanks
If he's reasonably intelligent and invests several hours in reading up the basics of land law and studying the relevant HMLR guides (there are probably youtubers who cover this too) I don't see why he shouldn't be able to do it. Just as with everything else, you only know the value in expertise when something goes wrong. At least in this case the money involved is relatively modest.
One advantage that the professionals have is that they can access the Land Registry's 'e-services', online.
You need to be registered to use these and, for obvious reasons given the value of some of the transactions being dealt with, they take security and validation of buisiness identity very seriously (we're registered - not that we undertake conveyancing - and just the registration process was not trivial).
Yes, I'm sure that you can spend time reading up on it and doing it yourself on paper, in just the same way that, yes, you can do your own Building Regulations drawings for your home extension, if you spend a few weeks teaching yourself to use CAD, then a few more weeks reading and comprehending the Approved Documents, but I think you'd have to both be failry masochistic and place a very low value on your own time to make it worthwhile.
You need to be registered to use these and, for obvious reasons given the value of some of the transactions being dealt with, they take security and validation of buisiness identity very seriously (we're registered - not that we undertake conveyancing - and just the registration process was not trivial).
Yes, I'm sure that you can spend time reading up on it and doing it yourself on paper, in just the same way that, yes, you can do your own Building Regulations drawings for your home extension, if you spend a few weeks teaching yourself to use CAD, then a few more weeks reading and comprehending the Approved Documents, but I think you'd have to both be failry masochistic and place a very low value on your own time to make it worthwhile.
I have done it many times. It is extremely simple. You just fill out the forms. You do have to get certification of identity and the team you send it to are the diy section who are also extremely helpful.
It does not work if there is a bank involved but simply conveying land is a very simple process.
Mine were relating to probate and also a sale of a £50k building with no finance on other side.
The process is slow as are all land transactions now and you won't get a land cert for many months.
It does not work if there is a bank involved but simply conveying land is a very simple process.
Mine were relating to probate and also a sale of a £50k building with no finance on other side.
The process is slow as are all land transactions now and you won't get a land cert for many months.
Edited by Jeremy-75qq8 on Sunday 15th October 18:20
I get the temptation to diy it if its a low value deal.
Personally id engage a cheap lawyer every time unless it was a 1 or 2k deal because whilst i could do it myself, and id have a vague idea of what im doing, ideally i want someone to be able to sue if it does go belly up and i have recoverable losses.
Personally id engage a cheap lawyer every time unless it was a 1 or 2k deal because whilst i could do it myself, and id have a vague idea of what im doing, ideally i want someone to be able to sue if it does go belly up and i have recoverable losses.
princeperch said:
I get the temptation to diy it if its a low value deal.
Personally id engage a cheap lawyer every time unless it was a 1 or 2k deal because whilst i could do it myself, and id have a vague idea of what im doing, ideally i want someone to be able to sue if it does go belly up and i have recoverable losses.
The problem with "professionals" is they often don't have eye for detail but the mistakes they make whilst a nuisance, are difficult or time consuming to chase them for.Personally id engage a cheap lawyer every time unless it was a 1 or 2k deal because whilst i could do it myself, and id have a vague idea of what im doing, ideally i want someone to be able to sue if it does go belly up and i have recoverable losses.
As an example, a friend had the incorrect value assigned to his house on the sold property register, 100% the conveyancers fault who is putting it right but the process is taking several months. Meanwhile, a neighbour who put a higher offer than the registered value thinks my friend has something going on with the estate agent and other neighbours who are trying to sell their house are being low balled on the basis of what buyers think my friend paid for his just a year ago.
My last transaction - they registered the property to the wrong postcode.
princeperch said:
I get the temptation to diy it if its a low value deal.
Personally id engage a cheap lawyer every time unless it was a 1 or 2k deal because whilst i could do it myself, and id have a vague idea of what im doing, ideally i want someone to be able to sue if it does go belly up and i have recoverable losses.
Agree with is. I’d be tempted if the value was very low (I still have some land law textbooks gathering dust in the loft from uni…) but even small transactions can come with nasty surprises to the unwary, particularly for a leasehold property.Personally id engage a cheap lawyer every time unless it was a 1 or 2k deal because whilst i could do it myself, and id have a vague idea of what im doing, ideally i want someone to be able to sue if it does go belly up and i have recoverable losses.
Bear in mind that if the money is significant , a bank is involved or the parties don't in effect know each other ( probate ) diy is not really practical.
I have done it 3 times for large freehold properties viz probate and once for a small sale of £50k and the buyer knew me and all the rest of the estate we owned.
As such leases , searches , enquires are all irrelevant if you are just moving title about and it is frankly little different to sell a car. You fill out the forms and the register changes.
If it were a " real " purchase, used a bank or wax leasehold etc then there are some real considerations which mean just pay a lawyer
I have done it 3 times for large freehold properties viz probate and once for a small sale of £50k and the buyer knew me and all the rest of the estate we owned.
As such leases , searches , enquires are all irrelevant if you are just moving title about and it is frankly little different to sell a car. You fill out the forms and the register changes.
If it were a " real " purchase, used a bank or wax leasehold etc then there are some real considerations which mean just pay a lawyer
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