How to choose the right solicitor for you and your transaction – When selling or purchasing a property.

Summary:

As we all know buying and selling a property is one of the biggest things you will do and we understand that this comes with worry and also stress. When choosing your desired solicitor, finding the right point of contact is extremely important. Your desired choice can impact the outcome of your sale or purchase whether it’s leasehold, freehold or commercial or due to legal reasons.

Choosing a solicitor for your needs from the start:

One of the main things is making sure your solicitor is made aware and understands your specific legal needs, so identifying your requirements from the start is crucial to avoid any bumps in the road. This can be anything from just a normal selling and buying transaction, to a transaction where there are more complex needs being a separation / divorce, a complex lease transaction or a probate transaction. Knowing your legal needs will help you narrow down the field of potential solicitors with the experience that will be required for your transaction.

Recommendation for potential solicitors:

If you are new to the selling and buying process, or have sold and brought a property before but was not satisfied with your chosen solicitor at the time, one of the most reliable ways to find a proactive solicitor is through recommendations. This could be from friends, family members and also the estate agent who is dealing with your property.

We understand that some clients believe estate agents only recommend solicitors to “gain commission” however this is not the case. As we deal with solicitors daily, it comes to light which solicitors have a reputable background and we also come across ones that unfortunately don’t. It is our duty of care to act in the best interest of our clients, as we of course want to recommend solicitors in which we have experienced transactions with and have also received great feedback.

It’s a common frustration that online solicitors don’t respond to you, and this tends to be the case. Emails will get lost and calls get missed with no returned contact so it’s reassuring when you have a local solicitor acting for you, knowing you can arrange an appointment to meet with your solicitor to raise or go through any concerns in person.

The end result for all parties involved is that we all look for a smooth, and steady process. However, where obstacles do come up, you as the client want to have the confidence your acting solicitor can deal with the issues promptly and also go “The Extra Mile” where required.

My advice would be choosing a local solicitor.

Fees and Comparing:

We also recommend you obtain 2-3 solicitors’ quotes from recommendations. This way, before making a decision you can compare the initial quotes and decide by liaising with the solicitors, which one you feel you have the most confidence in and whether they are the right solicitor for your transaction. Solicitor quotes can vary depending on the solicitor’s expertise and the complexity of your transaction i.e., if it’s a Leasehold? Is it a listed building? are there any restrictions or covenants on the property?

All these factors take a big part in the initial quotation. Don’t forget to discuss the breakdown of fees and the payment structure during your first interaction with the solicitor. This will help you avoid any financial surprises down the road. Remember, the cheapest option is not always the best option.

The importance of Communication from your appointed Solicitor:

Good communication skills are one of the most essential things to look out for, especially in what could be a stressful and tough time. Effective communication can give you the confidence to trust and also build a rapport with your solicitor, along with managing all parties’ expectations by making sure you are both on the same page, at the same time.

Lastly, choosing the right solicitor is a decision that should not be rushed. Take the time to research by looking into reviews for the individual and the company, liaise with multiple solicitors (2-3), and consider all aspects including their fees, the communication received to date and most importantly, do you feel confident and could you trust your appointed solicitor?

Hopefully by following these steps, you can ensure that you are well-represented from the start with a pro-active solicitor, with confidence that you will reach a point of exchange of contracts with completion following.

It is well documented that we, as a nation, have had some particularly challenging times in the last few years including covid, gas and electricity prices going sky high, interest rates going up, rents going up, to mention but a few! The fact that gas and electricity prices have risen so much has had an impact on people’s energy usage and this has meant that people have not heated their properties as much as they would ordinarily do, due to being afraid of the enormous bills these would create.

As a result of this, there has been a huge increase in the amount of condensation that is in people’s homes, which has, in turn, been detrimental to their standard of living and in some cases their health. There is a real lack of knowledge when it comes to things like condensation and black spot mould but the rise in it has meant that we, as a Company, are finding ourselves trying to inform and educate people what causes it and how to treat it. It is understood that there are other types of damp such as rising damp and water ingress, which are entirely different things and would need a specialist to investigate further.

The most common type of damp found in properties is caused by condensation. As you can imagine, just by living in a property, moisture is created by cooking, bathing & showering, washing & drying clothes and even breathing! Condensation occurs when moisture laden air is cooled to a point where it can no longer hold all its moisture and it will then go to the coldest part of the house, which is invariably an external wall that does not open to the elements. Over time, the condensation can then start to turn into black spot mould, which can be dangerous to health if the spores are inhaled in sufficient volume. Unbelievably, there are 100’s of species of mould that are carried in the air that can settle and grow if the conditions are right.

The best way to keep the levels of condensation down is to produce less moisture by following the tips below:

1. Cover saucepans whilst cooking & do not leave kettles boiling.
2. Do not dry your washing inside the property.
3. Always close the bathroom door when showering / taking a bath.
4. Always close the kitchen door when cooking.

It is also particularly important to heat the property but sadly some homes are only heated for part of the time; this can result in condensation occurring when the rooms are unheated. This has been a huge issue over the last 18 months or so due to the energy crisis, which has impacted people’s affordability to use their heating. Keeping the whole home consistently warm will reduce condensation. This is better, and may be cheaper, than having intermittent heating to higher temperatures of parts of the home.

As well as heat, it is also imperative that properties are well ventilated, which will help remove the moisture from the atmosphere. Please see some tips below, which will assist in keeping the air moving:

1. Ventilate kitchens and bathrooms when in use. After use open the windows wider to remove the remaining moisture.
2. Keep windows on “air lock” or ensure the windows “trickle vents” are open (if fitted).
3. Ensure that any extractor fan you have in the kitchen or bathroom is switched on when the rooms are in us and for approximately 20 minutes thereafter (they are usually set to a timer for this).
4. Ensure that your tumble dryer is vented outside (if applicable).
5. Wipe off wet surfaces, for example, where condensation has formed on windows or after using the shower.
6. Use a dehumidifier if you have one available to you.
7. Ventilate cupboards and wardrobes. Avoid putting too many things in them as this stops the air from circulating. Where possible, position wardrobes and furniture against internal walls.
8. Leave a space between the back of the wardrobe and the wall.

In simple terms, if you see black spots around your window or on your walls then that is black spot mould, which is caused by a lack of ventilation coupled with a lack of heat. It is our enemy, so immediately wipe it away and then introduce both heat and ventilation to the room. I am sure you have seen some horrific examples on the news, but these are the extreme and it is usually a combination of condensation, water ingress and even some rising damp. Nevertheless, it is important to keep on top of the issue but if you feel it is getting out of control then speak to a specialist to see if there is an underlying cause.

Hello again folks and welcome to autumn. Did you know that according to researchers, autumn is the least liked season of the year, colour goes from the garden, days get shorter, wetter and the temperature goes down. Well, the current housing market is just the same as autumn, it gets harder to get good photographs of properties due to the changing weather conditions, any vacant properties that do not have electricity on have reduced hours to view them due to the darker evening creeping in, and the prices, like the temperature, are going down.

I have been keeping a close eye on the available properties either already on the market or the new ones that are coming to the market over the last six weeks, it seems to me that there is a clear downward trend in the prices that the properties are coming on at but what is more concerning is the number of properties that other agents are having to do “Price Reductions” on. Some agents that are so proud of having hundreds of properties on their website are now having to slash the prices of their available stock.

Could this be because they over valued in the first place, probably. When choosing an agent to sell your property, remember that if an agent has more that 100 properties on its own website, then it obviously cannot be selling many at all. If an agent claims to have multiple offices selling your property for you, if it is a corporate agent, why would the lead office allow another office to claim a selling fee? I used to work for a corporate and this was never allowed to happen, as the offices are all in competition with each other but they still use this tactic to try and win your business.

When you see the properties appearing at the top of Rightmove listings, look carefully to see if it is actually a new listing or whether it has had a price reduction instead. The reason I say this is more than 50% of the top properties on Rightmove searches that I have done in recent weeks have all been price reductions and not new properties coming to the market.

When reading this blog, you may think it is coming across as negative, I would disagree. The market will always change, sometimes daily, but one thing remains the same and that is experience. An experience, and dare I say, a qualified estate agent will be used to these changing times and will be able to advise you accordingly to suit both your expectations and the reality of selling in a downward facing market.

This week, Cross Keys Estates had two enquiries from potential vendors both with differing needs. One family that did not live in Plymouth but had an older relation based in Ivybridge that needed to move into an assisted living property, as she was about to come out of hospital and her own property would no longer be suitable. We attended the property to value it, spoke in great detail on the phone and came up with a bespoke marketing plan. The property was placed on the market and enquiries came in straight away, a viewing was carried out within 24 hours of the property going live which led to the property being sold immediately towards the top of the guide price, meaning that the assisted living property was able to be secured for them.

The other vendor had been on the market with another (corporate) agent and tried their “Modern Auction” experience, they had tight timescale needs as they are moving abroad and had a date set for this move. The auction was a complete failure and didn’t generate nearly enough interest needed to gain offers on the property. A good neighbour of theirs recommended that they come to see us for a much more traditional and proven way to sell their house, after they popped in to our office and talked everything through in detail, we came up with a marketing plan, placed the property on the market and sold it within 5 days of the initial meeting in the office and at a price that exceeded the original agreed bottom line price.

There is a simple truth to this blog, if you have a need to sell your property, you also need to see a fully qualified and time served experienced agent. As the property market gets tougher, this experience will be what get you the results that you need. If you are unsure about which agent to choose, look them up on www.allagents.co.uk or if you want to be a bit more thorough, you could also look them up via PropertyMark to see if they are qualified, you can put your postcode in to their website and this will tell you if an agent is qualified or not.

In this day of scam artist and rogue traders, you could also try Companies House to see if the company that you are thinking of using is legitimate or not, you might be surprised at what information you can find on this website. When all is said and done, you cannot beat a good referral from someone who has been or is in the same situation as yourself and has been through the entire process.

I would also like to point out that as it stands with the current interest rate, properties that are currently on the market for prices over £300,000, are being affected by the higher cost of borrowing. If buyers are putting down a 10% deposit on £300,000 (£30,000), for a 2-year fixed rate 25-year term mortgage, the cost of borrowing £270,000 is now roughly at £1,500 per month. I got these figures from Compare the Market website. I am also sure that we will see more interest rate rises before Christmas which will push the property market prices down further.

The last thing that I wanted to point out is this, if you are selling and buying on in the same market conditions then your sales price is always going to be relative to your purchase price. In other words, if you are having to sell for a few thousand pounds less than you could have got a year ago, it does not matter, as the property that you are buying will also be a few thousand pounds cheaper as well.

Please feel free to call me, pop in to our office, or email me with any questions you may have or any advice that you may need with regards to your property buying or selling journey, as I am always only to happy to help.