Can I withdraw my offer on a property at any time?
When you make an offer on a house that has been accepted by the vendor, you can ask them to take it off the market as part of the acceptance. If you are selling, you can show your intent by agreeing to remove it from other potential buyers’ interest.
As a buyer, you can withdraw your offer at any time (and, as a seller, you can reject an offer at any time) up to the exchange of contracts, which means you are now legally committed to go through with the transaction at the agreed price. You should check your contract with both the estate agent and your conveyancing solicitor as there may be fees and other penalties associated with pulling out of the transaction after the offer was initially agreed.
If you decide to withdraw from the contract after exchange, then you are in breach. This means, if you’re the buyer, the seller is entitled to keep whatever agreed sum has been set for the deposit, and could claim damages; as the seller, you will be liable to pay interest accrued during the Notice to Complete period as well as the deposit, and the potential for claiming losses, and the buyer has to return everything about the property at the seller’s expense.
I am buying a modern property, should we have property searches carried out?
Conveyancing searches are common bundle of enquiries carried out on behalf of the purchaser, for example an environmental search. Woodborough purchasers should know that, conveyancing searches deal with legal facets of the purchase.
I am purchasing a £959000. What will be calculated for stamp duty?
Stamp Duty is dependent on the valuation. For a property in Woodborough worth £959000, the SDLT rate is £38360.
Who do I give the appliance warranties to if they are being left at the property I’m selling?
If you are leaving what is generally termed ‘white goods’ at the property you are selling, which are still in warranty, the documentation should be given to your solicitor so that any warranties can be given to the buyer’s solicitor as part of the contract.
Note that, should you be leaving any electrical (or other) items at the property, this should be made clear on the Fixtures and Fittings Form (TA10) and agreed as early as possible between you and the buyers, particularly if you want financial recompense in so doing.
How can I determine more info about the conservation areas in Woodborough?
Following a campaign, English Heritage have produced a list of the condition (poor to good) of conservation areas along with the exposure to the area falling into disrepair.
Conservation are issues for instance property boundaries, coloured road surfaces or new developments are regulated by the local Gedling planning authority.