What’s the difference between exchange of contracts and completion?
When you exchange contracts, this means that you are agreeing to all the terms drawn up within the contract made between you on one side of the transaction, and the opposite party on the other side. It is from this point that you are legally obliged to go through with the transaction (unless you want to be subject to financial and/or legal penalties).
The completion of contracts is the point where you officially take over ownership of the property, receive the keys and can move in. All monies are transferred between the various parties and the conveyancing solicitor contacts the Land Registry to register the change of ownership to you.
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Please state how to get out of paying out for SDLT?
Stamp Duty Land Tax must be paid for houses sold for more than £125,000. We strongly advise against any stamp duty reduction, as such schemes are costly and , if the scheme fails, you may be charged a penalty of up to 100% of the stamp duty amount owed.
What can a Standish property solicitor recommend if the flat I am planning to buy is inside a Wigan council conservation area that may have ugly new windows installed?
Wigan local authority Requisition for search and Official Certificate of Search conducted by the solicitor in the process of the conveyancing will see the existence of suitable formal approval for any modifications to the property.
What particular property searches should a property lawyer in Standish carry out on a Standish house?
The conventional legal procedure will be to obtain the following Local Authority (personal or official), Drainage Search (Con29DW), Environment Search and Coal Mining (Con29M) as well as any specific local searches, which might include Chancel Repair Liability Search.
How much is the council tax on a Sixties terraced house in Standish?
Typically the conveyancing report on title should provide the relevant Wigan council tax band. The latest tax charges for properties in Standish are listed online at the Wigan council site. At the time of authoring on 22 December 2012 rates for all bands are:
- Band A - £913.00
- Band B - £1,065.00
- Band C - £1,217.00
- Band D - £1,369.00
- Band E - £1,674.00
- Band F - £1,978.00
- Band G - £2,282.00
- Band H - £2,739.00
Will the Standish property lawyer get official or personal searches on my home purchase?
Your lawyer will make a recommendation as to the most appropriate route, depending on issues like mortgage lender requirements. If personal searches are used the lawyer might consider a search agent such as Professional Search Services Ltd t/a PSS including Home Truths (Lancashire), 244 Spendmore Lane, Coppull, Lancashire, PR7 5DE Tel: 01257 793613 Fax: 05601 148383
Do I need a solicitor?
The quick and easy answer is that you don’t. There is no legal imperative for you to employ a solicitor to handle the conveyancing when dealing with property. However, it would be rather unwise for you to carry out the work yourself because you probably won’t have the skills, knowledge and experience to perform many of the complex tasks, and you won’t possess the indemnity insurance that all solicitors are obliged to carry to protect clients in the event that something goes wrong.
You need to appoint a solicitor who is experienced, proactive and focused so that you have the best chance of completing your transaction as early as possible. You should also look for such a solicitor who also offers ‘No Completion, No Fee’ protection so that you will only be invoiced for the fees once your transaction has completed successfully.
Worried about the conveyancing process? Looking at a tight budget? Let Homeward Legal help you with our low fees without compromising our service values. Call us now on 0800 038 6699.