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Conveyancing in Penkridge Q & A's

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By

Ask Clarisa a question hl@syntarsus.co.uk

Updated: 22/04/17

Penkridge key data:

Penkridge is around 2 miles of junction entry 12 Northbound of the M6.

The nearest train station to Penkridge is Penkridge, Station Rd, around a mile away. The nearest airport to Penkridge is Wolverhampton Business Airport Airport. Birmingham Airport is 25 miles and away.

Cannock Chase is the neighbouring hospital to Penkridge.

Q.

How do we get affordable conveyancing in Penkridge?

A.

Several firms promote theoretically cheap conveyancing. Often additional fees may be added into the solicitor's terms of engagement. Excited property buyers and sellers, eager to get underway, often ignore this small print when they instruct. A quote for conveyancing in Penkridge ought to define applicable disbursements.Get a quote using the Homeward Legal quote calculator for the property you are buying.

Q.

Please advise how to defer paying out for stamp duty land tax?

A.

SDLT must be paid on residential property sold for over £125,000. We do not recommend any stamp duty mitigation. Such schemes are often uneconomical and , if the scheme fails, you may be charged a penalty of up to 100% of the stamp duty amount owed.

Q.

We are buying a modern property, should we have property searches performed?

A.

These searches are a standard bundle of enquiries ordered for the buyer, for example a lead mining search. Searches are not carried out by a property surveyor and will not advise on the structure of the property.

Q.

Which issues are important to guarantee a fast conveyancing process?

A.

Essential to a fast conveyancing transaction is to instruct a communicative solicitor. Beyond that, there are a range of tasks you, as the buyer, can also do. These include:

  • requesting regular updates from your solicitor and keep the pressure on
  • quickly answering your solicitor's questions
  • organising your finances, including arranging a mortgage

Q.

Is a leasehold supplement a fee or disbursement?

A.

Comparing quotes is not always easy, given the various definitions different firms use to describe the same thing. This cost is a fee not a disbursement, and should be clearly stated in your conveyancing quote.

Q.

Does 'fixtures and fittings' include things like kitchen units?

A.

Chiefly, there is no absolute definition of 'fixtures and fittings'. This is regularly not considered, hence the importance of a complete fixtures and fittings form, agreed by both parties.

Q.

Do I need to be concerned about gazumping?

A.

The practice of rejecting a previously accepted offer when a better one is made by another buyer is called gazumping. There is almost always a risk of being gazumped. The first step in reducing the chance that gazumping will effect you is to instruct your property solicitor early, and even before acceptance of an offer.

Q.

We are completing in May. What will be determined for stamp duty?

A.

The Stamp Duty you must pay depends on the valuation. On a £318000 property in Penkridge, stamp duty will be £9540.

 
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