Buying and selling Manses25/04/19
The property market is challenging at the moment, so being prepared is more important than ever. We've outlined out below our top tips when preparing to buy or sell manse properties.
Top tips for selling:
- Before marketing the property, obtain and consider a Qualified Surveyor’s Report (QSR) and have it approved by TMCP. We can help you understand the QSR and liaise with TMCP.
- Log the project on the Property Consents Website so the necessary consents can be obtained in good time ensuring these don’t delay completion.
- Get your sales pack ready early on. The sales pack contains standard information that you can prepare before finding a buyer—meaning that the transaction can progress swiftly once an offer has been accepted. Our help with this is included in our fixed fee offer, including a checklist of what you will need.
- Help your buyer understand your internal processes. We can take this off your hands by explaining to the buyer’s solicitor how the Methodist internal approvals process works and likely timeframes for this at the outset of the transaction.
Top tips for buying:
- A purchase survey (including valuation) must be obtained and reviewed by TMCP. We will help you liaise with TMCP.
- Check the property meets Methodist Church policy set out in Standing Order 803.
- Log the project on the Property Consents Website so the necessary consents can be obtained.
- Help the seller and the agent understand your internal process. As above, we can explain your internal approvals process to the seller’s solicitor, so that your requirements don’t come as a surprise to them later in the process.
- Agree realistic timescales. We can work with you to agree target dates for exchange and completion with the sellers, to reduce the likelihood of transactions dragging on.
- Understand the value of the property. Although you are likely to be buying property without third party funding, we will check that the property does not have any legal issues that could affect its value, or which would prevent a funder from lending against it. This is because such matters could affect your ability to sell (or charge) the property in the future.
How Capsticks can help
We offer competitive fixed-fee rates for both selling and buying manse properties. Our experience in dealing with these matters for Methodist Church Managing Trustee bodies across the country, and our wider residential practice, means that we have a “tried and tested” process, and will be able to progress matters quickly and smoothly to completion.