Property sale to family/getting sold.

MagicUK

MagicUK

MagicUK

Associate
Joined
2 Sep 2003
Posts
1,016
Location
Sussex
Hello thought I’d post on here as looking for some advice. My grandad is selling his property as my nan passed at the start of the year. I have a 2 bed property that I’m looking to get rid of and looking to sell my grandad the 70/80% of the property value and I become a part owner with the equity left. He can not afford to purchase 100% of the property so looking at a shared ownership between us. Currently about 200K mortgage on the property and value wise I think about £315/320k. Who/what would I need to talk to arrange getting the wheels in motion to get him into the property
 
It can be a solicitor who specialises in conveyancing or a conveyancer, they do the same job. They cost about the same.

We went via a firm of solicitors route on our last sale but it was all handled by the conveyancer in the team who wasn't a solicitor.

But, honestly, the money is worth it for the paperwork involved especially in a case like yours.
 
adidan said:
It can be a solicitor who specialises in conveyancing or a conveyancer, they do the same job. They cost about the same.

We went via a firm of solicitors route on our last sale but it was all handled by the conveyancer in the team who wasn't a solicitor.

But, honestly, the money is worth it for the paperwork involved especially in a case like yours.
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Any recommendations. Feel free to pm if don’t want put on here
 
adidan said:
It can be a solicitor who specialises in conveyancing or a conveyancer, they do the same job. They cost about the same.
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No, they don't.

One is a qualified lawyer who can offer broader advice, the other only deals with property law/transactions. The moment some property transaction goes beyond that and involves say commercial law, inheritance law etc.. they're not able to advise you.

And that last bit seems like it could be relevant here perhaps - if OP or his grandfather have questions w.r.t the inheritance, wills etc. and this property transaction then they ought to speak to a solicitor who can advise on (and handle) both the conveyancing aspect and the inheritance aspect (and might as well get them to draft a will too).
 
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yes - obviously complex like the stamp duty owed, mortage redemption and getting offer for a new loan under shared ownership, putting grandfathers part in a trust ?
 
dowie said:
No, they don't.

One is a qualified lawyer who can offer broader advice, the other only deals with property law/transactions. The moment some property transaction goes beyond that and involves say commercial law, inheritance law etc.. they're not able to advise you.

And that last bit seems like it could be relevant here perhaps - if OP or his grandfather have questions w.r.t the inheritance, wills etc. and this property transaction then they ought to speak to a solicitor who can advise on (and handle) both the conveyancing aspect and the inheritance aspect (and might as well get them to draft a will too).
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Concerning house sales they do but, yes, if you want further further broader advice regarding legal implications beyond just a house sale then, yes, a lawyer is advisable.
 
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