Any Conveyancing Solicitors here?

[buddha]

And can you answer a, hopefully, simple question?

I am an executor of an estate, and am arranging the sale of the house.
One of the beneficiaries (who has lived at this house for many years) has agreed to buy the house. And the executors have agreed a market-value sale price, less their share as a beneficiary. The buyer has sufficient, cash funds available to pay for this sale. So no mortgage is required.

In these circumstances, does the buyer have to go down the normal route of getting their own solicitor? Or, as I hope, can a single solicitor simply arrange a transfer of the title deed and exchange of money. As I assume this will be quicker, and much cheaper.

I assume that searches, EPC etc. will also not be required?

Thanks, if anyone can help.

 

[ASC1951]

You don't say whether you have instructed a solicitor to act for the executors. If you have, your question is a matter for the solicitor acting for you - he is the one who has to deal with the professional conduct obligations set out in the 2012 Handbook (which has now degenerated into waffle about 'outcomes' and 'indicative behaviours' ). The problem is that this is not just a transfer out of the estate, it's a purchase as well. IMO the beneficiary needs independent advice if the equalisation payment is more than nominal and he should not be represented by the solicitor who is acting for the executors.
If you don't have a solicitor acting for the executors, and don't want one, there is nothing to stop you continuing like that and the beneficiary instructing his own just to act for him on the transfer/purchase: documents are usually prepared by the transferor's side, but they don't have to be.

As to an EPC, no - the property isn't being marketed. As to searches, those are always discretionary if there is no mortgage. But just because the beneficiary knows the house well doesn't mean that he knows everything in the Council's records, for instance, so he may still be prudent to make many of the enquiries he would make if he was buying in the normal way.

A cash purchase by a current occupier is certainly less work that the normal transaction and that should be reflected in the bill.

 

[buddha]

Yes, a solicitor has been instructed by one of the executors (there are 3). The buyer is also one of the executors and a beneficiary.

My 'query' arose when this solicitor quoted an executor for an EPC, who then sent me a cheque for this, from the estate account, to be signed and forwarded. My instinct was that an EPC is not needed. And after speaking informally to an estate agent became aware of the possibility, as described in my OP.

Anyway, the solicitor has now just proposed a meeting, as I and the other (purchasing) executor are unhappy with much of his 'advice'. He has just emailed me his T's&C's (on my request and 3 months late). Given his hourly rate, I hope that he will not charge extra for this meeting.

Thanks for your help.

 

[asterix]

Any Conveyancing Solicitors here?

Try P&L or whatever they call it today.

 

[buddha]

Try P&L or whatever they call it today.

I don't think Mr Stephens is of Oxbridge calibre though

 

[Hacienda71]

I think the solicitor is right that an EPC is required as the building is being sold. Here

 

[Doseone]

As to an EPC, no - the property isn't being marketed.

Now I'm confused You told me off for saying exactly that on Kiwi Avengers thread. I know we were talking about a rental there, so is the legislation different for sales and rentals? BTW, I'm not having a go, I'd genuinely like to know the answer.

 

[buddha]

I've just come off the phone to Trading Standards to double check. They are the ones who 'administer'/oversee EPC's.
ASC1951 is correct. Trading Standards have confirmed that an EPC is not required in this case, as the property is not being placed on the market and the resident buyer is aware of its condition.