I don’t need a conveyance – I just need a solicitor to ensure ‘good title’

[isitrealylaw]

Hi all, I’m sure there will be many that find the thread title naive and provocative/controversial. I’m very happy to be educated this areas, maybe my views will evolve? Anyhow – so the situation is, I’m a small time property investor (very small time). I have a couple of properties that I rent out. I’m looking to purchase another from. Now I’m not downplaying the role of a conveyance solicitor – they can be worth their weight in gold, and at the very least provide much needed peace mind for sellers and buyers of property. However, for someone who is buying as an investment, who wishes to take a view on the risks, doesn’t want (whether there is a need is debatable) any advice on the contract or potential issues etc, doesn’t require searches, any mortgage or finance involvement etc – Is there a ‘light option’ that is available? As when I speak with solicitors to get quotes (and obviously someone fairly junior) they don’t seem to get what I’m looking for – although explaining this, the quotes always come back including searches etc and basically around £1,500+ (exc SDLT) for a freehold house with a purchase price of around £100k.

For example, if buying for cash, a 2 bed mid terrace on a street that I already own another that I purchased just a few years ago (so I’m aware of any coal mining issues, possible compulsory purchase issues etc etc), furthermore if I’m buying from auction and I’m already committed to buy etc – I’m willing to take any associated risk, without advice/it being flagged up – I literally just want to make sure the title is good, any previous mortgage/finance has been cleared etc and I shouldn’t have any issues with claims from anyone regarding ownership/title in the future – I’d obviously like the title then to be registered in my name but I’m not even that bothered if this wasn’t done correctly – assuming this would be in my control to have it corrected later. – What is it that I’m describing? (besides naivety and stupidity), would any solicitors want this type of work?

Believe it or not I am actually happy to pay the going rate for this, it’s not just about trying to get the cheapest possible work done – it just appears to me that the current quotes I’m getting are no different from someone who wants a full report and dialogue on any issues – basically work I don’t want (it could be argued I need though?)

Looking forward to the mixed responses I'm sure I'll get - thanks all.

[atticus]

you might look at it this way: the risk to the solicitor is not less. The amount for which you would be suing in the event that you consider that you have had negligent advice will be the same.

[isitrealylaw]

you might look at it this way: the risk to the solicitor is not less. The amount for which you would be suing in the event that you consider that you have had negligent advice will be the same.

Thanks for the reply - I can completely see that. I suppose the market for non-advised/transfer of title only is too small and unapealing.

I would definitely prefer to use a solicitor to ensure things go smoothly, although out of interest, if I'm only looking for good and proper transfer of title - is there much involved? is this something someone could do themselves?

I'd imagine it would involve searching the land registry to check the current proprietor and any charges/other interest etc, then checking the transfer deed and TR1 are correct - whilst relying on the sellers solicitor to have checked the sellers I.D etc to ensure they have authority to sign the transfer documents, get an undertaking to pay off any mortgage etc and then send over the money and hopefully get the keys and that's that? - Obviously a bit more complicated but is the the actual transfer of title part something you'd need a lot of legal knowledge to handle correctly?

[atticus]

I suggest that you speak to solicitors again. This time, why not arrange a meeting to discuss your needs and what they can do for you?

[isitrealylaw]

I suggest that you speak to solicitors again. This time, why not arrange a meeting to discuss your needs and what they can do for you?

Sounds like a good plan to me, hopefully we'll manage to work something out