Are you thinking of developing your property and selling individual plots?
If so then contact PSR Solicitors to see how we can help you. We know how stressful and time consuming selling individual plots can be. The planning and development stages can be a harrowing experience without the pressure of setting out the right and obligations applicable to each plot. One of our dedicated property solicitors can assist you at every stage of the legal process and keep you fully updated from start to finish. Trust us to help you.
Procedure of selling your individual plots
Once you have made the decision to develop and sell off parts of your property please contact us at the earliest opportunity so we can discuss with you your requirements and prepare the contract package. We can also identify and resolve any issues with your legal title early on. Each plot will likely require specific rights being granted, rights being reserved for the benefit of the remainder of the estate, payment obligations on the buyer for maintaining common parts on the estate and restrictions placed on each plot. You will then typically need to place the plots on the market with an estate agent unless you can sell privately. Once buyers have been found for individual plots we will have the necessary information to hand to immediately start the legal process of selling each plot without delay. The more quickly and smoothly the transaction runs the less likely a risk of it falling through (aborting).
Once the buyer’s solicitor has received the contract pack from us they will commence their searches, investigate the legal title to the property and raise any relevant enquiries to us for your replies. Once the buyer’s solicitor is satisfied with all the replies to appropriate enquiries a completion date can be proposed. This process may take a little longer depending on how many people are in the conveyancing chain. Once all parties in the chain have agreed a completion date it is usual to exchange contracts at the earliest opportunity. Once contracts have been exchanged, you will have the confidence that your buyer is contractually bound to complete on the purchase.
Should you have a mortgage on the property we will liaise with your mortgage lender and redeem the mortgage on completion either in whole or in part. Similarly, we will also pay your estate agent (if you have one) on your behalf.
Our experienced solicitors can also assist you with a wide range of issues that may arise on a plot sale such as:
- Lack of rights benefitting the property that you were not previously aware of
- Lack of Planning Permission or Building Regulations Approval
- Restrictions affecting your property
- Additional financial charges affecting your property
We have offices throughout North Wales and Cheshire and you can contact us safe in the knowledge that one of our expert solicitors will take care of everything for you allowing you to carry on with your development whilst we proceed with the legal aspects.