Fenham conveyancing solicitors apply for some property when instructed by a purchase client - what actual ones?
When taking out a mortgage a mortgage lender insist that these searches - Local Authority (council), Drainage Search and Environmental, and, depending on certain criteria, area-specific searches, like a SIM.
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.
Who do I give the appliance warranties to if they are being left at the property I’m selling?
If you are leaving what is generally termed ‘white goods’ at the property you are selling, which are still in warranty, the documentation should be given to your solicitor so that any warranties can be given to the buyer’s solicitor as part of the contract.
Note that, should you be leaving any electrical (or other) items at the property, this should be made clear on the Fixtures and Fittings Form (TA10) and agreed as early as possible between you and the buyers, particularly if you want financial recompense in so doing.
We are buying on a Fenham ex-industrial site. Is the top-soil likely to be contaminated?
Fenham industrial or agricultural can cause soil contamination. Data on many contaminants, such as water contaminants such as organic compounds and trichloroethylene, will be included in an environmental search.
I am buying in Fenham, and have had a quote from you. Are there any extra costs?
Unfortunately, sellers must read the terms of their conveyancing quote careful to identify any hidden fees. Homeward Legal never hide any additional fees. Some conveyancers give 'quotes' which are in fact estimates, meaning that your final bill could be much higher.
Our local agent has offered a property solicitor whom they usually use. Will it be cheaper to use this solicitor?
An agent will refer a solicitor. However, if the agent is paid a fee by the solicitor, some agents may 'recommend' the solicitor willing to pay the highest referral fee, not a firm with local expertise and a solid reputation.
Does the report on title compiled by the property solicitor in Fenham detail the amount of council tax on a Band B house prior to exchanging contracts?
Your property solicitor will contact the local authority to enquire about the relevant council tax charges which will be set out in the conveyancing report on title. The latest tax charges for Fenham are set out in detail on the council site.