Buying and Selling Houses

 

Moving house is reckoned to be one of the most stressful times people go through; our aim is not to add to the stress providing what clients require which is a quick, thorough and informative service. 

 

There will be firms of solicitors who charge more than we do and some that will charge less; quality should be a more important factor for these significant transactions.

 

The legal process involved in buying and selling houses is called Conveyancing. 

 

Solicitors are involved in investigating legal and practical aspects of a house being purchased; when selling they provide information to the purchasers solicitors to assist them with their investigations. Following this process for purchasers we provide a report setting everything out that is relevant. 

 

Assuming you are happy with the report then we deal with entering into a binding legal arrangement (Exchange of Contracts); one of the terms of contract is providing a date to move in or out (Completion). 

 

Following the completion, if you are purchasing a property we would then register you as the owners at the Land Registry. 

 

We also act for Banks and Building Societies involved in the transaction who are either granting a new mortgage for someone who is buying or repaying an old mortgage for someone who is selling. 

 

If you are looking to buy or sell your house, please contact us on 0121 323 1860 for a quote.

Buying and Selling Apartments

 

The legal process involved in buying and selling Apartments is very similar to Buying and Selling Houses

The difference legally generally revolves around the fact that people who own apartments have obligations to contribute towards the general expenses of an apartment block which adds an extra element to the investigation of the property or providing information to a buyer.

 

If you are looking to buy or sell your apartment, please contact us on 0121 323 1860 for a quote.

 

Mortgages

 

Unless a buyer of a house has the cash they will usually borrow money for the purchase from a Building Society or Bank. The Building Society or Bank will want to have a means of getting their money back if it is not repaid. They need their Loan to be Secured.  To secure their Loan they register something called a mortgage or charge over the property. If the loan is not repaid they have the ability to take the property back and sell it to recover their money. 

 

When homeowners buy properties that need to borrow money we will act for the Bank or Building Society to ensure that their mortgage is properly in place. We also have to report to them in relation to the legal situation regarding the property so that they are comfortable with the security. 

 

From time to time homeowners change from one Building Society to another or to a Bank and this process is called Re-mortgaging.  Again we act for Banks and Building Societies together with the owners of the properties dealing with the legal side of Re-mortgages. 

 

If you are looking to re-mortgage your property, please contact us on 0121 323 1860 for a quote.

Leases

 

If someone buys an apartment then they will not usually be the absolute owners of it. They will own something called the Leasehold. They will be granted the right, for example, to have the property for 100 years. In theory after that period of time the property reverts to the ultimate owner known as the Freeholder. 

 

People with long leases do have the right to extend them so that they don’t lose their property when the lease expires. Extensions of leases are common where apartments only have a limited amount of years left since Banks and Building Societies will not accept such leases as security for loans. 

 

We assist clients with the process of extending leases liaising with the owners and registering the new leases at the Land Registry. 

 

If you are looking to extend your lease, please contact us on 0121 323 1860 for a quote or further information.

 

Tenancy Agreements

 

More and more people nowadays are, for a variety of reasons, renting properties rather than buying them. 

 

There are a number of key elements of a Tenancy Agreement concerning rental periods and special statutory requirements in relation to rent deposits and the terms of the Tenancy Agreement. 

 

If you have bought a buy-to-let property, having a comprehensive tenancy agreement is paramount to ensuring that you are protecting your investment.

 

If you are looking to enter into a Tenancy Agreement, please contact us on 0121 323 1860 for a quote or further information.

 

Cotterhill Hitchman Solicitors is a trading name of Cotterhill Hitchman Solicitors LLP, a limited liability partnership registered in England and Wales Registration Number: OC301080, registered office: Atlas House, 4-6 Belwell Lane, Sutton Coldfield, B74 4AB,  VAT number 655 0359 36.

 

Cotterhill Hitchman Solicitors LLP is authorised and regulated by the Solicitors Regulation Authority ref no: 353376.
 

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