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
Property sale to family/getting sold.
- Thread starter MagicUK
- Start date
Commissario
A solicitor who specialises in conveyancing.
Commissario
Yup
It'll need to be done properly with all the risks etc explained and a proper valuation.
Soldato
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.
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.
Any recommendations. Feel free to pm if don’t want put on here
Soldato
TBH I'd look for one nearby, I find local is generally best.
I'm in the north east so it'd be a bit of a trek for you to nip in to the office if you needed to
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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Soldato
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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Caporegime
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