Core Transactional Services - Specialist Property Services

We handle all conveyancing aspects of a conventional property sale or purchase.

We assist with the legal aspects of mortgages and remortgages including private mortgages between individuals.

We handle all aspects of gifts of property.

We provide an extensive service across this complicated field including trust deeds to record and protect third party contributions towards a property.

Expert legal advice and work in this field. Typically this is divorce, remarriage and death related.

The secret to selling in a slow market is to be flexible on price. Generally speaking this is fine for those who are buying and selling. Everything is relative, or should be. In the case of a probate sale, however, there is no related purchase and arguably, more to lose.

Points to consider

Is it worth postponing the sale? Possibly, but who can tell? It may be better to put the house on the market at a bearable price. You could strike lucky and find a buyer straight away. In the meantime give some thought to the following:

Practical points

• Council tax exempt for 6 months from date of death. A small saving.
• Building insurance. Check whether the insurer will give a refund mid term when the house is sold. Negotiate a reduced premium by agreeing to visit the house once a week - a trusty neighbour could help here.
• Protect against squatters. Are there any young family members - fresh from university - or family friends who would like to rent. A simple rental agreement would be sensible to allow for viewings by prospective buyers.

Getting the house ready to market

Please don't clear the house until exchange of contracts.  Furnished houses sell more quickly than unfurnished.  Instead, tidy and de-clutter to provide the buyer with a relatively blank canvass.

• Identify legacies - review the Will and invite beneficiaries to collect specific legacies.
• Write to the beneficiaries explaining what you intend to do with the other items. Arrange for items to be valued/sold at auction. Keep a formal record of any sales.
• Donate low value items to charity shops - few accept soft furniture or electrical goods.
• Advertise items for free on local forum sites.  Check out http://www.gumtree.com/ for your area - 'stuff for sale' or 'freestuff' placing the obligation on the buyer to collect. Remember to offer free items to family members or that trusty neighbour. People are not so proud in the current climate, simply grateful.
• Improvements. Consider a lick of paint but no significant expense please.  
• Advertising. Promote the catchment area, schools, amenities, bus route/tram route (include the number of the bus). Investigate free government services in the area such as  childcare facilities or playgroups www.direct.gov.uk  http://schoolsfinder.direct.gov.uk/). Market the house as a family home with great potential set in an established neighbourhood / community.
• Viewings. Make yourself available. There is something very unwelcoming and depressing about a harassed/worried estate agent arriving late to open up a cold house. Give the house character by recounting happy times in the (south facing) garden - but don’t over do it. Use the words 'house', 'home', 'family' rather than 'property', 'building', 'previous owner' or 'deceased'.

Embrace the changing market

As we all know, the market can change dramatically. Make sure the estate agent has evolved and refined its tactics to cater for today's market. In a buoyant market a probate sale may attract an investor - a perfect match and arguably an estate agent's preferred buyer - no related sale,  finances in order and (with a bit of luck) on the market again after renovations (same agent?).

Today's market is quite different.  Make sure the estate agent appeals to the family or young professional market. We may see an increase in close friends clubbing together (possibly posing as couples) to increase their chances of getting on the property ladder. Remarkably, against all odds, the property ladder is still an attractive place to be. Ask those in rented.

In summary, take control of the marketing arrangements or ask us to. The brochure, website, photos, text and marketing style are key to finding a buyer.

Legal points to consider on a probate sale

• Is the house registered at the Land Registry? If the ownership has changed in the last 20 years it probably will be. 
• If the ownership hasn't changed for a long time and the house is unregistered, where are the title deeds?

Consider first registration – because nobody likes nasty surprises.

With the onset of HIPs we are often asked to send unregistered title deeds in the post.  We never do.  Far better to register the house at the Land Registry for the first time and pave the way for a smooth and straightforward sale.

Expert legal advice and work in this field.

A leasehold owner of either a flat or a house should be aware of the following rights

Flat owners

• You can buy an extension to your lease for an extra 90 years
• Together with the majority of qualifying flat owners in your building you can buy the freehold from the landlord or take over the management of the building

House owners

• You can buy an extension to your lease for an extra 50 years
• You can buy the freehold from your landlord

We act for individuals and large estates. A voluntary first registration can help streamline a sale or save money on a subsequent transfer, gift or mortgage. The Land Registry offers a reduced rate for voluntary registration. This can mean a substantial cost saving for larger estates.

Expert legal advice and work in this field. Our team can advise on the ability to grant, vary or release rights.

Expert legal advice and work in this field including deeds of release and variation.

This subject will only apply to a small number of readers. For those few, please read on.

Is there a section of land adjoining your house that you know is not yours but that you have always treated as your own? Potentially, this land could become part of your property by way of 'Adverse Possession'.

 The basic requirements for Adverse Possession of unregistered land are as follows:

•     You are the only person who uses and has control of the land
•     You do not need anyone's consent to use the land
•     You do not pay anyone for using the land

If you can establish that this has been the case for at least 12 years you may be entitled to make an application to the Land Register to register your ownership.

The 12 year period can include the previous owners' use of the land if they are willing to support your application.

What does the Land Registry look for?

•     A fairly precise start date e.g. Spring 1996 
•     A particular purpose for which the land has been used e.g. 'garden area'
•     The extent to which the land has been enclosed by fences
•     Who erected and who has maintained the fences?
•     Has the land been maintained/improved over the years?
•     Have there been any complaints about the use of the land?

There are circumstances in which the Land Registry will reject the application. 

Different rules apply if the land is already registered at the Land Registry. 

If your application is successful, the Land Registry will register you as the owner of the land with 'possessory title'. What's more, if you clock up a further 12 years of registered ownership, your ownership will be upgraded to 'absolute title' The best title available.

With minimal effort and expense you could add value to your property. Why waste time, for as little as £15 you can find out whether you could own more land.

Contact julia.watkinson@specialistpropertyservices.co.uk or maria.clark@specialistpropertyservices.co.uk

The Land Registry register is a public record and in recent years the Land Registry has promoted 'DIY' conveyancing. Since 2004 the Land Registry has paid out compensation of over 12.5 million pounds for fraudulent dealings with registered property. One might reasonably think the two issues are linked.

Fraudsters target:

• Mortgage free properties
• Investment / tenanted properties
• Empty or unoccupied properties

How to reduce the risk?

Here are a few services which we supply:

• We can make sure that your address on the Land Registry register is kept up to date.
• We can arrange for up to three different addresses for you to be noted on the Land Registry register including an email address.
• We can ask the Land Registry to notify this office if someone applies to the Land Registry to change the register relating to your house. This is particularly important if you are away from home or out of the country for long periods of time, or if the property is empty or rented out.

How can you further protect yourself?
For £50 the Land Registry will put a 'restriction' on the register. The restriction would stop anyone, other than a qualified conveyancer, changing the register. 

Without this restriction anyone can apply to change the register. This new form of restriction has been designed by the Land Registry to protect against fraudulent transfers and fraudulent mortgages.

Let us know if you want this protection. We will deal with the rest.

Point one - Don’t sell at all?

Home improvements, adaptations and extensions may be the alternative to moving house or 'downsizing'. With property prices falling many clients are considering their options.

• Younger or growing families are looking to extend the home rather than move house.  
• Older clients are considering adaptations to improve access to and movement around the home for the medium to long term.

Our property team can offer expertise and make arrangements to:

• Obtain a feasibility/suitability report for adaptations
• Assess the availability of Local Authority grants to fund adaptations for a disabled client
• Co-ordinate planning and building regulations applications
• Assess tenders for building works
• Review the terms of a building contract and agree the specification of works, the timescale for completion and the structure for phased payments
• Secure an insurance bond to cover the cost of the buildings works in the event that the building contractor goes into liquidation before completing the works
• Obtain final certificates and guarantees for the building works

For advice on adaptations and building works contact julia.watkinson@specialistpropertyservices.co.uk

Point two - Be realistic.

Its easy to be unrealistic. Think what you believed the price was back in August 2007 and then be ruthless. Look around at house prices near to you. But remember that the shop window price is not usually what sellers are actually achieving. If they were there would not be all those stickers over old prices and they would have sold before now.

If you must move you may have to be prepared to take a 25% - 30% reduction on what you had once hoped for and be prepared to reconsider that as time goes on if your property is 'sticking' on the market with little or no interest.

Take advice from a reputable agent or experienced independent surveyor. Putting your property on at a lower than market price may generate more interest and bids at present than setting one just above what you realistically hope to obtain. The aim is to get people across the threshold and putting in offers. Like most marketing it is 'a numbers game'. Remember the risk is that prices deteriorate further.

Point three - Pretty please…

Tidy your house up and the garden. Check curb appeal. Cut the grass. Use tubs with colourful flowers in them. Make it appear fresh, uncluttered and light. Store bulky items of furniture with relatives or friends. Do your best to eliminate odours and repaint faded areas. Ask someone you know to imagine they are a potential buyer and take them through your house to pick fault with it. But try not to fall out with them…

But don’t spend too much money. You can practically guarantee that potential buyers will not have the same tastes as you. So its not worth it. They are more interested in the space than the contents. But if you have planning permission or building regulations approval for an extension keep it handy or if you have a guarantee for a new boiler or replacement windows or an electrical certificate for rewiring - or something like that - make sure to have copies available for potential purchasers to take away.

Don’t let your estate agent get away with dreadful grey sky, rainy day or badly positioned pictures on the brochure. If you think the brochure could be better, say so. Make sure their website is working and easily searchable before signing up. Many people rely on the internet when searching for houses these days. Slow sites with poor graphics will not impress. They will not sell your house either.

And finally.. make sure you tell neighbours, friends, relatives, work colleagues that you are selling your house.  Tell anyone who will listen including us. You may find that word of mouth is the key to selling your home.