What’s the difference between exchange of contracts and completion?
When you exchange contracts, this means that you are agreeing to all the terms drawn up within the contract made between you on one side of the transaction, and the opposite party on the other side. It is from this point that you are legally obliged to go through with the transaction (unless you want to be subject to financial and/or legal penalties).
The completion of contracts is the point where you officially take over ownership of the property, receive the keys and can move in. All monies are transferred between the various parties and the conveyancing solicitor contacts the Land Registry to register the change of ownership to you.
Confused by the jargon in conveyancing? Let Homeward Legal's straightforward and clear service help guide you to as early a completion as possible. Try our online quote generator or call us on 0800 038 6699.
I am purchasing a £723000 Frodsham residence. What should be calculated for stamp duty?
The Stamp Duty rate you pay will rely on the property's value. Stamp duty will be £28920 on a £723000 house or flat (information accurate 15/01/2013).
Bookshops and the web both have plenty of online explanatory studies about on the subject of doing the legal work yourself. Do I really need a property solicitor in Frodsham ?
There is no reason why a home mover cant adopt a DIY approach and take care of the legal work without a qualified Frodsham property solicitor.
That said, a property solicitor in Frodsham is familiar with a long list of skilled tasks ranging from understanding the practical side of the process and ensuring warranties are transferable which require a qualified professional. Above all DIY conveyancers will be working without the applicable indemnity insurance that legal firms are under a duty to carry.
What do I get for my money from an estate agent?
A good estate agent will be able to bring their local knowledge into your transaction and reduce the amount of stress you might experience as part of the whole moving experience.
Although it might seem that agents do very little for their clients, they will help you set the sale price for your home by using their knowledge of similar properties, a large part will involve marketing your home by expressing it in its best light online and through fliers, phone calls and emails, etc., they will conduct viewings with ay interested potential buyers, manage the negotiations on the offers as they come in and, by law, they will also have to take all necessary steps to ensure the buyer is serious about entering into the contract to purchase the property when an offer is made.
However good you believe your chosen estate agent to be, you should take time to read through the terms and conditions thoroughly to understand what you’re paying them and what you’re going to get for your money.
When should I book a removals firm?
It’s very tempting to get wrapped in the excitement of moving home and wanting to get everything sorted out and in the diary. But, if you book a removals firm too early, prior to the exchange of contracts (when the date and time of completion is legally set), you risk the possibility that the date might change, thereby having to pay a fee to the removals firm to change the plans.
There is nothing stopping you in contacting a selection of firms to get a quote for removal and to negotiate the possibility of pencilling a date in but ensure you obtain agreement that this is subject to change and confirmation.
Which Frodsham lenders do you work with?
Homeward Legal are able to work with the majority of lenders assisting buyers in Frodsham. Lenders and mortgage specialists in Frodsham include Cheshire Building Society, 3 Church St, Frodsham, WA6 7DN, Just Remortgages, Castle Pk, Frodsham, WA6 6SB, and Just Commercial mortgage, Office 5/Castle Pk House, Frodsham, WA6 6SB. The lawyer whom you have instructed can give more detail.
My partner and I are interested in purchasing in Frodsham. How can we confirm that the house is in a conservation area?
Conservation areas protect regions designated as being of architectural or historic interest. Your conveyancing lawyer will provide more details and confirm potential liability for unauthorised works.
As a consequence of the major flooding in Sept 2012 in North West England, I am apprehensive that environmental searches might not be sufficient?
A qualified Frodsham property solicitor will suggest that you get environmental searches (Landmark database search) if the environmental conveyancing searches identifies any kind of risk.
Why not also contact a local resident to get further local history.