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Buying / Selling property between family

  • 08-01-2022 9:17pm
    Registered Users Posts: 213 ✭✭ Kurooi

    I'm selling a place, parent offered to buy it at market value (it's very standard so we agree on a valuation from an estate agent being correct. I'm happy neither of us are losing/winning monetarily and they know the palce and will get an engineer survey so nobody is unhappy after, win-win)

    Is there anything I should know about in this sort of deal? I presume I can just find a solicitor that can get us over all the legal work? Can we jointly hire just 1 solicitor or does each person need a representation?

    Also, can I expect this to finalize faster? How fast could it be? I know purchases now take 3 months + easy, but surely this could go faster we just need to swap papers. In my own experience most of the time was wasted with buyers/sellers not quite co-operating or the two solicitors making a mission out of it. Would it be significantly faster if no bank was involved? They might pay 100% cash. Not sure.