For fast legal work on the purchase of a £504k house, what do we need to do?
Firstly, moving faster is key is to use a proactive solicitor. You should consider:
- Was there a delay delivering a quote?
- Are phone, fax and email their preferred methods of contact
- Are they 'no move, no fee'? This can incentivise a faster transaction.
Will a conveyancer in North Somerset get official or personal searches on my home purchase?
The lawyer will inform you as to the ideal course of action, depending on factors like mortgage lender requirements. For personal searches, a lawyer might perhaps consider a local search company for example Assured Searches Ltd, 132 High Street, Nailsea, Bristol, BS48 1AH Tel: 01275 851 000 Fax: 01275 859 000
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.
What do I provide to the solicitor on my house sale?
The list of documents required is quite simple, but will be required at different stages of the process (but ideally any forms should be completed and returned on the day of receipt and preferably delivered by hand or email).
- Proof of id
- Title deeds (if you have them; they might be lodged with the solicitor who handled the purchase of the property you are selling, or the mortgage company)
- Fixtures and Fittings Form (TA10)
- Property Information Form (TA6) – information on boundaries, disputes and complaints with neighbours, notices and proposals, alterations and planning consents, building regulations, electricity and gas certificates, guarantees and warranties, insurance, environmental matters affecting the property, rights and informal arrangements, parking, other charges, services, connection to utilities and services, and transaction information
- Copies of documents referenced in the PIF
- Leasehold or shared freehold documents
- Management Information Pack
- Energy Performance Certificate
Providing all this documentation as quickly as possible, as well as responding to arising questions throughout the conveyancing within a couple of hours will help to speed the conclusion of your transaction up considerably.
Which environmental factors can impact land in North Somerset. Will they be checked for comprehensively?
Property may be contaminated by several natural causes and human activities, and factors like waste disposal sites or military land will be detailed in an appropriate search.
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.
In what ways can my conveyancer in North Somerset report back on the potential risk of local flooding around North Somerset?
An essential component in the legal procedure of buying a property involves a conveyancing solicitor conducting environmental searches that give some details with regard to North Somerset area flood risk.
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).