 |
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.
|
|
