What length of time does it take the solicitor to accomplish all of the legal work for the lower floor of fifties home we are thinking of buying?
Completion can take anywhere from one month to 12 weeks dependent on various things, like the efficiency of the sellers lawyer, or the speed of the local authority.
Homeward Legal's property lawyers are focused on communication, with the aim of completing the legal process as rapidly as possible.
What are the alternatives if we acquire a loft conversion located inside a Bexley local authority designated conservation area ?
Part of the legal process involves carrying out searches of the Bexley authority to ascertain conservation area status and permission for developments. In the event that no local authority consents be available your conveyancing solicitor will recommend the alternatives like buying an indemnity insurance or requesting retrospective permission.
What kind of inquiry in respect to the risk and history of floods to properties in Greenwich will a Avery Hill conveyancing solicitor advise on a Victorian home we are going to purchase?
A solicitor will apply for standard formal environmental searches that will include Avery Hill flood risk information.
Should I list my property with more than one estate agent?
The choice is entirely up to you and your specific circumstances. Going with a sole agent is probably the cheapest option (although the reach to buyers is dependent on how many clients are on their books), while multiple agents will be more expensive (but will reach a broader client base).
If you’re looking for a quick sale or the market is rather sluggish, it makes sense to put your property on with a number of agents. If the market is buoyant, it makes more sense to place the property with a sole agent.
Whichever you choose, you should always check the terms and conditions so that you know what service you’re getting for your money and how much it will cost you once the home is sold. You should also understand if there are penalties should you decide to place the property with more or fewer agents later on during the agreement period.
What is stamp duty and land transaction tax?
Stamp Duty Land Tax (SDLT) is a proportion of the final sale price of a property payable to HMRC by the buyer. The current trigger threshold is for any property priced at £125,000 or over (unless you’re a first-time buyer, in which case you pay less or no tax for properties priced at less than £500,000). Your solicitor will handle the transfer of the tax as part of the final tasks on your conveyancing.
In Scotland, buyers have to pay Land and Buildings Transaction Tax and, in Wales, the Land Transaction Tax is triggered at properties priced over £180,000.
In all cases, the amount payable is based on a sliding scale as the price goes up as a proportion of that range added together than an overall flat tax amount or percentage. So, the higher the price goes up, the greater the amount of tax you have to pay.