Is there anything I can do to get out of paying for stamp duty tax?
SDLT is payable for homes sold for over one hundred and twenty-five thousand pounds. We firmly advise against any form of stamp duty scheme. These schemes are expensive and HMRC may challenge a scheme up to six years later meaning that the full stamp duty amount will be payable, with potential fines. There have been a number of government-sponsored schemes, on the other hand, such as higher thresholds for first-time buyers. You will be able to confirm your eligibility for any such active initiatives with your solicitor..
Is there a checklist for buyers or sellers helping to decide what’s most important?
The process of buying and selling is a complex one, so it’s helpful for your research to have checklists to ensure nothing is forgotten. There are several online resources with checklists for individual aspects of the moving process, including what to consider as a first-time buyer, help to buy schemes, removals, speeding up conveyancing and so on.
When it comes to deciding what you want for your new home to help you narrow down the choice of locations and types of property available, this is largely down to personal choice, so a standardised checklist might limit your requirements. You can talk to an estate agent about what you want as they will have the experience to narrow down your options. However, you need to consider the size of the property (number of rooms, bathroom facilities, bedrooms, etc.), size of garden, proximity to public transport links, noise, entertainment options (e.g. cinema, pub, eateries, etc.), access to off-road parking, schools, speed of broadband, and so on. Consider making a list of what the property must have and an associated wish list so that likely compromises can be made.
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’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.
Homeward Legal offers competitive, fixed-fee quotes, protected by our 'No Completion, No Fee' guarantee. Try our online quote calculator or call our team on 0800 038 6699 to see what we mean.
An Unforeseeable event dictate that we need to exchange on the sale of our property in a very limited time, do Homeward Legal use fast solicitors in Irlam ?
Our carefully selected solicitors always take a completely speed focused style when finishing the conveyancing for movers.
Our property lawyers method is to employ modern IT and integrated systems . More importantly we give you a property lawyer incentivised to communicate with agents, landlords, councils and all parties in the buyer and seller property chain .