What sort of flood plain searches concerning the risk of flooding at Somerset will the Hinton St George solicitor be able to apply for?
A vital step in the conveyancing protocol involved in buying a home involves your conveyancing lawyer making an application for conveyancing searches (environmental) that set out some details regarding Hinton St George area flood risk. A substantially more in-depth flood risk search, such as the Homecheck search, will often be suggested by your solicitor in Hinton St George if in the event that the initial searches suggest a risk of flooding.
Do you work with many mortgage lenders with Hinton St George offices?
Homeward Legal are able to work in conjunction with most lenders. A number of mortgage specialists operate in Hinton St George, such as Bridport Mortgage Centre, 16 West St, Bridport, DT6 3QP, Campion, 3 Armoury Rd, Lufton, Yeovil, BA22 8RL, and Grosvenor Financial Services, First Floor/51-52 High St, Taunton, TA1 3PR.
Are we at risk of gazumping?
Gazumping arises when a owner accepts the first buyer's offer, only to later refuse it in favour of another purchaser's offer. This rejection may occur weeks, or even months, into a property purchase. Although being gazumped is less common in a declining market, there will always be a risk. To reduce the likelihood of being gazumped, consider instructing a proactive solicitor as soon as possible.
How much is stamp duty and land transaction tax?
The Stamp Duty Land Tax (SDLT) is based on a trigger threshold of £125,000, followed by a calculation of increasing percentages against the price bands, which are then added together:
- Less than £125,000 = 0%
- £125,000-£250,000 = 2%
- £250,000-£925,000 = 5%
- £925,000-£1,500,000 = 10%
- More than £1,500,000 = 12%
For example, a house bought for £450,000 will trigger SDLT at £12,500 (£0 for the first £125,000, £2,500 for the next £125,000, and £10,000 for the next £150,000 as the price falls in the first three bands).
Which local authority is responsible for Hinton St George?
Hinton St George is located in South Somerset District Council, Council Offices, Brympton Way, Yeovil, Somerset, BA20 2HT, contact: 01935 462 462
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 do I do if new and severe damage is found after moving in?
You should reasonably expect the home into which you’re moving to be cleared, clean and without additional damage. Of course, things can happen as removals can chip plaster, scratch or tear wallpaper, etc., but if there is significant damage that was not present before, it would be advisable to talk to your solicitor to see if there is any recourse for you on your seller.
You may also like to think about writing a clause into the contract that money will only be released after a cursory inspection of the premises to confirm that you are happy. This needs to be agreed with the seller’s solicitor, but the expectation is already raised. Beware that, in the chaos of the moving day, you can’t afford to delay things too much, so it’s a fine balance.
What would my conveyancing searches in Hinton St George cost?
Searches in Hinton St George ranges in cost, depending on the searches required. Searches are disbursements paid to a third party.