Would you suggest taking precautions to avoid paying for stamp duty in Lewes?
Stamp Duty Land Tax (SDLT) is due for home purchases over 125,000 pounds. We do not advise home buyers arrange any form of stamp duty avoidance, as such schemes are costly and very risky. There have been certain legal initiatives, such as relief for buyers in 'disadvantaged areas'. Your solicitor will advise as to your eligibility.
Will we need a property survey?
It is heavily suggested that home buyers arrange a RICS surveyor if purchasing in Lewes. There can be many defects that can affect a property, that a solicitor will be unable to address. These can include rotten roof timbers.
I am purchasing an Edwardian terraced house, should we have searches done?
These searches are a prescribed pack of queries ordered on your behalf, for example a local authority search, and will only cover issues and defects relating to the property's legal title.
Should I get my short lease extended before selling?
Buyers are becoming increasingly wary of buying leaseholds with less than 90 years to run because, first, the cost of increasing a leasehold is becoming far more expensive, and, second, mortgage companies are becoming increasingly reticent to lend money to buy leases that have dropped below the 80-year mark (indeed, this will be one of the criteria that they set to ensure their investment is protected).
As a result, buyers will often insist that the leasehold be extended back up to the 99-year or 125-year typical thresholds before going ahead and buying it. So, as the current leaseholder, you will almost certainly be expected to do the legal work required to extend the lease to a level that buyers will be happy with.
What type of investigation in respect to the potential risk of floods in the East Sussex region will my solicitor in Lewes advise us on a Fifties house I am going to buy?
The lawyer applies for property environmental searches that should include Lewes flood risk data. Furthermore, your Lewes property solicitor may propose a more involved (e.g. Landmark) flood search.