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Change Of Ownership

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  • Change Of Ownership

    My father has agreed to purchase a flat that me and my wife currently rent out to a tennant.

    We will be saving estate agents fees by not needing to advertise the property but I wondered what the cheapest process would be in order to finalise the deal.

    For example

    Can we simply transfer ownership?

    Is it cheaper to both use the same solicitor?

    As the property is remaining in the family do we need to go through exactly the same process as if it was a private buyer that we did not know.

    We have agreed the price and my father intends to continue to rent the property to new tennants. It will not be his main residence.

    Any advice will be much appreciated.

    Many thanks in advance


  • #2
    I think ideally you should look to use different solicitors, because a solicitor's just is to represent the interests of either the buyer or the seller. I think there may be a potential conflict of interest if the same solicitor represents both.

    Just my 2c.


    • #3
      If Dad is getting a mortgage then his solicitors will have to do searches and check everything for the mortgage lender.
      RICHARD WEBSTERwww.rwco.co.uk
      As a conveyancing solicitor I want to be helpful (England/Wales only) but can't accept liability for this.