Can I withdraw my offer on a property at any time?
When you make an offer on a house that has been accepted by the vendor, you can ask them to take it off the market as part of the acceptance. If you are selling, you can show your intent by agreeing to remove it from other potential buyers’ interest.
As a buyer, you can withdraw your offer at any time (and, as a seller, you can reject an offer at any time) up to the exchange of contracts, which means you are now legally committed to go through with the transaction at the agreed price. You should check your contract with both the estate agent and your conveyancing solicitor as there may be fees and other penalties associated with pulling out of the transaction after the offer was initially agreed.
If you decide to withdraw from the contract after exchange, then you are in breach. This means, if you’re the buyer, the seller is entitled to keep whatever agreed sum has been set for the deposit, and could claim damages; as the seller, you will be liable to pay interest accrued during the Notice to Complete period as well as the deposit, and the potential for claiming losses, and the buyer has to return everything about the property at the seller’s expense.
We need to know which Axminster lenders your lawyers are able to work with. Whose panels are your solicitors on?
Of lenders with branches around Axminster, Homeward Legal work with the bulk of them. Local mortgage lenders and brokers include Manchester Building Society, Trinity Sq, Axminster, EX13 5AW.
What does the Axminster conveyancing lawyer do when the flat we are planning to buy is in a local authority conservation area and has unsuitable removal of chimney stacks installed?
Your instructed property lawyer will verify whether the property is within a conservation area, and if so whether any modifications have requisite permissions. If no necessary permissions be produced, your solicitor will give you professional advice on the options which can include purchasing an indemnity insurance policy or requesting retrospective consent from West Dorset planning authority.
Do you state looking into how to hold off paying out for stamp duty?
Stamp duty avoidance should be treated with extreme caution. These schemes are costly and the HMRC can review a scheme up to 6 years after a sale is completed .
What are 'fixtures and fittings'?
Purchasers are frequently confused by the lack of detail regarding fixtures and fittings. Completion or agreement of a fixtures and fittings form is unfortunately often left to the last minute, when a dispute may jeopordise the transaction.
The ground-floor flat being purchased is on a former industrial site. Can the top-soil still be contaminated?
There are legislative rules in place to curtail soil contamination. Other sources of contaminated land include groundwater contaminants like solvents and acidic compounds.
Will the report on the property's title compiled by the Axminster conveyancing solicitor detail the amount of the council tax for a Band G building before exchange of contracts?
A lawyer will contact the relevant West Dorset local council to discover the currently applicable council tax band and rates, which will subsequently be added to the conveyancer's title report. The latest tax rates for Axminster are tabled online at the West Dorset local authority website. On (28 June 2012) band rates are:
- Band A - £1,069.00
- Band B - £1,247.00
- Band C - £1,425.00
- Band D - £1,604.00
- Band E - £1,960.00
- Band F - £2,316.00
- Band G - £2,673.00
- Band H - £3,207.00