Do you need a chancel search? I am purchasing a maisonette near a priory in Johnstown.
In Johnstown, where land was once owned by a lay rectors, new owners of that property may be obliged to subsidise repairs to specific local church buildings. Following the Land Registration Act 2002, interest over any affected land must be registered by October 2013. This will make it easier to identify affected property through a chancel search. A solicitor will be able to advise further.
If I want to build an extension or do other works once I move in, can I get a builder to visit to give me a quote?
There is nothing stopping you trying to organise this, so long as you set a date and time that’s acceptable to the vendor (or via their estate agent if they are unable to be there) and try to establish how long the process will take, so that this can be booked in.
This becomes particularly critical following a surveyor’s inspection where remedial works are identified and recommended. You can use the quote from the builder as a renegotiation tool on the asking price, if the work required is going to be particularly costly. If you decide to go down this route, it must be done before exchange of contracts (where you’re committing to the sale price) and you should inform your solicitor if you’ve had private discussions and agreements with the vendor over price for inclusion in the terms of the contract.
Furness Building Society is our lender - what will we need to consider?
Your mortgage lender will require legal work to be performed on their behalf. A small number of lenders have reduced their 'solicitor panel'. This can mean greater legal costs for purchasers. Homeward Legal can act for many lenders so that the buyer will not have to pay your lender's legal costs.
Should I accept an offer on my home if I haven’t found one to buy?
From your prospective buyer’s standpoint, they are not going to want to wait around for you to find somewhere to move to necessarily, meaning that they might drop out of the process to look for a property that is more readily available. However, you might want to have the discussion with your estate agent as to the best way to manage this as part of the process of putting your house on the market.
It’s not always going to be easy for everyone in the chain to have everything lined up from mortgage offers, sale price agreements, solicitors, surveys and so on. Therefore, you can be honest and tell your prospective buyer that, while you’re accepting the price, you haven’t completed your part in the chain; if they are unhappy with this, your other option is to consider a short-term rental or moving in with friends temporarily to protect the sale.
With our experienced solicitors at low, fixed-fee quotes with 'No Completion, No Fee' protection, Homeward Legal is in the best position to look after your conveyancing. Call us now on 0800 038 6699 to get started.
Following recent news about the serious river flooding in Wales I am asking whether flood searches won't be exacting enough?
A qualified conveyancing solicitor in Johnstown will get additional environmental searches if the enviro searches identifies a significant risk Johnstown area flood risk
For extra area background you could always converse with a local resident.
Are there any lenders with Johnstown branches?
Most lenders in Johnstown are on our Johnstown solicitors' panel. Local mortgage lenders and brokers include Mortgage Advice Bureau, 35-37 King St, Wrexham, LL11 1HR, Lewis John, Mill Brook/The Millyard/Chester Rd, Rossett, Wrexham, LL12 0DN, and James Adam, Pant Teg/Ffordd Isaf, Gwynfryn, Wrexham, LL11 5TS.
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.