Why would you choose a Solicitor Estate Agent?
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Lauren Wright is a Partner at Harper Macleod, who works closely with the firm's Estate Agency team. Here she tackles a question that often crops up when people are looking to sell their home – what exactly is a Solicitor Estate Agent?
You may get the impression that it makes no real difference which estate agent you choose to market your property – if someone wants to buy it then they will. However, there are benefits to using a solicitor estate agent that sellers are not always aware of.
A 'solicitor estate agent' simply means that the estate agency is part of a law firm – so you can have your property marketed and the legal paperwork dealt with under the same roof. You do not have to keep both your estate agent and solicitor informed of any updates/progress, as they are already in contact and aware of the details of the transaction.
Not only this, but should you wish to make a written offer to purchase a property once you have received an offer for your own property, your solicitor will know the terms of the offer for the sale of your property so they can best advise you on the terms of your purchase.
The importance of checking title deeds early
One of the most significant benefits of using a solicitor estate, however, is that generally speaking your solicitor will be able to request your title deeds from whoever has them and check them at an early stage.
The absence of title deeds can often cause delays in transactions, particularly if you purchased your property prior to 2003. Older title deeds are not stored electronically and it can take time for your lender to forward them. In the event that title deeds are needed very quickly or the originals cannot be located, copies will need to be ordered and this can be costly depending on how many title deeds your property consists of.
Your property may also have been altered or extended within the past 20 years, in which case a buyer's solicitor will ask to see all building warrants, stamped plans and Completion Certificates. It may be that a previous owner carried out such works and the building documentation may be with the title deeds, or copies of the building documentation may need to be ordered from the local authority, which can take a number of weeks to obtain.
Your solicitor will generally check to ensure that all of the "links in title" that will be needed by a purchaser's solicitor are there. This includes the title deed showing the description of your property and a number of other title deeds which state various conditions that you must observe while you live at the property (otherwise known as "title conditions" – for example, that you must not park your yacht in your driveway, as it is for cars only!).
Getting it right from the start
If any further work is required, your solicitor will be able to point this out so you can be confident that all matters are resolved before your property is marketed.
Should you put your property up for sale before such an issue has been legally corrected, then you will simply end up disappointed when you receive an offer, as your buyer may very well not want to wait as long as the matter will take to rectify - you could lose the sale and have to start the process again.
We're here to help
To find out more about how Harper Macleod can help you, including a great £995 fixed fee estate agency package, please get in touch.
01463 795 006
Alder House, Cradlehall Business Park IV2 5GH
www.estateagencyhighlands.co.uk
