Technically speaking, you do not need a solicitor to sell your house. If you are willing to deal with contracts, deeds, drafts and clauses, then you do not need a solicitor to close the sale of your house. However, if you want to make the process of selling your home easier and essentially seamless, it is a good idea to hire a solicitor. To really understand whether or not you need a solicitor to sell your home, let’s talk about what a solicitor does and how one might benefit you.
What does a solicitor do?
In simple words, a solicitor takes on all the legal responsibilities of selling a house. First and foremost, a solicitor is supposed to prepare the legal contract of sale and purchase. He or she is also required to request a mortgage resettlement issue while obtaining title deeds for the property. A solicitor is also expected to meet the legal representatives of the buyer and negotiate a good deal that the buyer and seller will be happy with. While you may have a figure in mind from an online house valuation, the final sale figure will be one that the buyer and seller agree to, through their legal representatives. After the negotiations, once the sale process has gone through, the solicitor is expected to approve the deed of transfer, ensure all the paperwork is complete and up to date, check the final accounts and hand the title deeds to mark the transfer of ownership.
What are the benefits of hiring a solicitor?
Handles contracts
The most important job of a solicitor is to draw up a contract for the sale of the property which is known as the contract of sale. The solicitor will also be responsible for creating the title of ownership which is essentially the transfer deed.
Gives legal advice
A good solicitor will give you the right legal advice which could include certain stipulations that need to be added to your sale contract or any special conditions that need to be mentioned in the deed.
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Up to date with new regulations
Solicitors are up to date with new rules and regulations, some of which might have changed just a day before the final date of sale. To avoid making any mistakes in your paperwork which could be rather costly to fix in the future, it is a better idea to hire an expert who is up to date.
How do I find the right solicitor?
The best way to find a good solicitor is to ask your friends, family and colleagues for recommendations. You can also find a solicitor online. Be sure to check the reviews, and read customer testimonials as well as the feedback from previous clients. You can also ask your mortgage lender or mortgage broker for recommendations, as these financial experts are in touch with leading local solicitors. And, of course, you can ask your estate agent to put you in touch with a few solicitors as estate agents often have a pool of good solicitors. Once you have a few good recommendations, you can speak to the solicitors to find out their fees and rates. Some solicitors charge a fixed fee, some have hourly rates, while some take a percentage of the sale value. When you get a quote from a solicitor, be sure to find out if the charges for bank transfers, stamp duty tax, land tax, land registry fees and other such costs are included in their service fees or not.
When do I have to use a solicitor?
Usually, you are not legally obligated to use a solicitor. However, if you are a leaseholder who is looking to sell your property, then your freeholder or your mortgage lender can insist that you hire a solicitor to sell your home.
Do I need to hire a solicitor?
Clearly, the list is quite long. From handling the transfer of the deed to ensuring that the right amount of money reaches the right place, a solicitor really has his work cut out for him. Of course, if you feel that you are capable enough to do everything a solicitor does, then you can consider being your own solicitor. However, if you are not up to date with the legal jargon and you have no idea where to start when it comes to drafting contracts and transferring deeds, then you might want to use the help of an expert.
