Selling without need for an agent
My father and mother are both living with us permanently - and they are ready to sell their property, in the North. We already have a buyer (current tenant) - so don’t need to get an estate agent involved, as there is no one else in the chain and the price has been agreed. Can you please tell me how to best proceed, in order to keep costs at a minimum. Do I only need to instruct a solicitor or some who does conveyancing? Or will conveyancing only be from the buyer’s side? So that I can understand the extent of activity, what will my solicitor be responsible for doing and therefore what order / range of costs are we talking about? (Ball park / estimate only).What do we do about CGT? How do I know if my parents are liable for this? The house has appreciated by £38K, but over >10 years. Will they still be liable based on their annual allowances?
It is possible to do your own conveyancing, but I’d recommend using a solicitor. You can get conveyancing quotes from this website. You may be able to negotiate a discount if you use them for both the purchase and sale sides.Your parents will have to pay capital gains tax if the appreciation exceeds the indexed amount, and their personal CGT threshold.
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