Conveyancing In Bridgnorth Q & A's
Will my lawyer in Bridgnorth do personal or official searches on my property purchase?
The property solicitor will make a recommendation as to the most appropriate type of search, depending on issues like lender requirements. If personal searches are used, your property lawyer may try to find a search agent such as Heather Poole-Gleed t/a Shropshire Property Search, 39 Victoria Road, Bridgnorth, Shropshire, WV16 4LD Tel: 01746 762242 Fax: 01746 762242
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.
Can you suggest how to bypass paying for SDLT rates?
We strongly advise against any stamp duty scheme. Such schemes are costly and , if the scheme fails, you may be charged a penalty of up to 100% of the stamp duty amount owed.
How do we work out stamp duty, and how much will it be on a £73000 property?
Stamp Duty in Bridgnorth will depend on the valuation. Stamp duty will be £0 on a £73000 property.
I’ve lost my gas/electrical certificates; will that stop me moving?
There is no legal imperative for you to provide either the gas or electrical safety certificates as the seller; you are required to provide a gas safety certificate on an annual basis, however, if you are planning on letting the property out. The Institution of Electrical Engineers recommends that an electrical certificate be updated at least every ten years or when the property is transferred to a new owner (every 5 years if you are letting the property out).
However, this usually means that this is the responsibility of the buyer with the onus on organising an inspection for a new certificate falling on them.
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Do your property lawyers manage property auction conveyancing in Bridgnorth?
Yes - our property solicitors frequently do the legal work for auction buyers and sellers. Our specialist lawyers have previously acted for many successful bidders at national and local residential property auctions that include Acuitus, Allsop (Commercial), Allsop (Residential), Auction House London, Award Property, Barnett Ross, Baxtons, Brendons Auctioneers, Countrywide Property Auctions and Drivers Norris.
Sensible bidders will formally appoint a Bridgnorth property conveyancing lawyer asap to allow time for a review of the auction legal papers in advance of the property auction date.
Immediately following the day of bidding your lawyer is fully able to concentrate on completing the legal work inside the limited time as conventionally required .