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The
Legal Process
Buying
or selling your home has been likened to death or divorce: It can be a stressful
experience. But a problem shared is a problem halved. We will help you through
the process. We will liaise with your solicitor to ensure as little hassle as
possible. If you are selling, we will undertake the marketing and use our best
endeavours to suit your requirements by introducing a suitable purchaser at the
best possible price. If you are purchasing, we can match you to our wide range
of properties on which we are instructed. In either case, your solicitor or licensed
conveyancer will ensure that all the legal requirements are met and you are selling,
or purchasing, in accordance with your instructions.
To
the uninitiated, the legal process can be a minefield. First and foremost it is
essential to understand that the sale or purchase of land is fundamentally different
from buying or selling anything else. If you agree upon a price to buy or sell
a motor vehicle, but then change your mind, you can be sued for breach of a verbal
contract. This does not apply to land. For over three hundred years, since the
Statute of Frauds in 1677, the law requires that the sale or purchase of land
shall be in writing, signed and contain all the important terms. So any offer
made, and any acceptance of that offer, which is in writing, should always be
endorsed with the magic words subject to contract, to avoid either
party being bound. If those words are not used, then an exchange of letters could
be sufficient to bind both parties. To avoid that situation, it is better never
to put anything in writing. Along with your conveyancer we will ensure you are
not bound in contract by writing the necessary letter at the right time. If, for
any reason, it is essential to put your verbal agreement in writing, the note
should be worded I confirm that, subject to contract and survey, I am prepared
to buy (address of property) for a price of £XYZ. The reason for adding
subject to survey is to further limit your offer to a survey which
is satisfactory to you. If you are selling, the wording would be I confirm
that, subject to contract, I am prepared to accept your offer of £XYZ to
buy (address of property).
At this stage there may still be negotiations to be concluded. For example, does
the agreement include, or exclude, furnishings and fittings? By this is meant
any of the moveables that may be taken from the property without damage to the
structure - chattels in legal terminology. Misunderstandings are very
common and should be dealt with at the outset. Carpets and curtains are the most
common chattels. They can be excluded, or included, in the price. And so can other
items. It should be remembered that the legal definition of chattels
is personal property. Often, a description of the property will include
(or exclude) fixtures and fittings. This can be a trap for the unwary
buyer or seller. As stated, in law, a fixture is something adherent
to the property which cannot be removed without damage to the structure. For example,
a hob which is part of a fitted kitchen. As such, it is part of the property and
the seller has no right to remove it. Unless the contract expressly makes reference
to this item being excluded from the sale, it cannot be removed. It adheres to
the property and is, in law, an immovable. The same can be said for plants and
shrubs in the garden, although light fittings may generally be removed without
damage to the ceiling.
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