How soon is it wise to instruct a solicitor to handle our transaction?
With few exceptions, the sooner you instruct a conveyancing solicitor, the better, as conveyancing involves a number of tasks that can begin immediately. Promptly instructing a firm could mitigate the chance of your transaction falling through.
I have a requirement to exchange contracts on the conveyancing process on a leasehold apartment in under 30 days - are Homeward Legal really fast solicitors in Isle Of Wight ?
Our firm take an extremely take charge plan of attack when conducting the conveyancing and title transfer for home movers.
Our solicitors approach to conveyancing is different as we have invested in new integrated systems . Crucially we always look after you with a solicitor trained to communicate up the home buyer and seller chain .
Is it recommended to avoid paying out for stamp duty land tax?
Stamp Duty Land Tax (SDLT) is generally due on property sold for over one hundred and twenty-five thousand pounds. We do not recommend home movers get involved with any form of stamp duty avoidance. Such schemes are often uneconomical and unreliable.
The home I’m buying has been empty for two years; what questions should I be asking the solicitor, the estate agent, and the surveyor?
If a home has been empty for a considerable period (such as the two years mentioned here), there’s usually a reason for it. There is estimated to be around a quarter of a million properties in the country that have been empty for more than 6 months.
The primary reason is that the owner hasn’t the funds to renovate the property, or they’ve started gutting the place and run out of money to take it further, or perhaps there’s been a significant problem (e.g. fire or flood are common instances). Most likely, these properties will come up at auction.
Your estate agent will be aware of its history if the property is on their books, so you can find out a lot from them, the council will have an empty property officer, and the Land Registry will have information on the deeds. As far as the solicitor is concerned, they will establish the position on the property as part of the conveyancing, while the surveyor will have experience of checking out such properties, with the advice that you order a Building Survey (the most detailed of the options) to check out its structural integrity. Note that mortgage lenders will be more reluctant to offer a loan on such homes.
Ultimately, the ball is in your court and, if you want to pursue buying such a property, you need to be prepared to do the research, which can take up a lot of time.
The moving process can be bewildering and stressful. Let Homeward Legal look after the legal side of things for you and we'll guide you through the process from start to end. Call 0800 038 6699 to find out more.
How is stamp duty calculated and what should we budget for a £1115000 residence?
Stamp Duty depends on the valuation. For a home estimated at £1115000, the SDLT rate is £55750.*
*Accurate 15/01/2013
Is a building survey a good idea when purchasing a property in Isle Of Wight?
The Royal Institution of Chartered Surveyors strongly advise that you arrange an inspection. A wide range of defects can negatively affect a property, for example cracked roof tiles. These will not be reported on by a solicitor.
How can I avoid gazumping?
This happens when a house seller acknowledges an offer and then rejects it in favour of another buyer's offer. Gazumping could occur even months into a sale. Although being gazumped is less common in a declining market, there will always be a risk. The first step in reducing the chance that gazumping will effect you is to instruct a fast, efficient solicitor early, and even before acceptance of an offer.
Does the Isle Of Wight conveyancer apply for any property on the Isle of Wight Victorian terraced property I am intending to purchase?
The standard legal protocol will be to get Local Authority, Drainage and Water Search and Environmental, and possibly specific local searches, which might include Chancel Search.