Conveyancing In Wragby Q & A's
Can I agree a sale price without involving an estate agent or solicitor?
This depends on whether you have signed up with an estate agent and what agreement is already in place. While it might seem unfair if you’ve found a buyer outside of the estate agency process and you’re expected to still pay the agent their fees on sale, you should be very careful about stepping outside the agreed terms and conditions since this is legally binding and you may face penalties as a result. Therefore, if you want to follow this course, it’s worth checking the details with a solicitor to ensure you’re following the letter of the law.
If you’re not with an agent, you can publicise your house details with a number of publications and online sites (some are free, others require a fee), but you’ll need to do all the legwork and administration. For a legal standpoint, you don’t need to appoint a solicitor to perform the conveyancing, but it would be an unwise option to pursue as you will probably have neither the training or experience in some its complexities, and you won’t have the protective indemnity insurance in the event of a problem arising with your work.
What is stamp duty and land transaction tax?
Stamp Duty Land Tax (SDLT) is a proportion of the final sale price of a property payable to HMRC by the buyer. The current trigger threshold is for any property priced at £125,000 or over (unless you’re a first-time buyer, in which case you pay less or no tax for properties priced at less than £500,000). Your solicitor will handle the transfer of the tax as part of the final tasks on your conveyancing.
In Scotland, buyers have to pay Land and Buildings Transaction Tax and, in Wales, the Land Transaction Tax is triggered at properties priced over £180,000.
In all cases, the amount payable is based on a sliding scale as the price goes up as a proportion of that range added together than an overall flat tax amount or percentage. So, the higher the price goes up, the greater the amount of tax you have to pay.
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 can our conveyancing searches cost?
With a Homeward Legal conveyancing solicitor, clients buying a property charged at most £249 for a standard search bundle. Conveyancing searches are paid to a third party, and are charged at cost.
Which environmental factors can contaminate land in Wragby?
Property is contaminated by several environmental concerns. Contaminants such as overhead transmission lines will be investigated during the conveyancing process.
How many weeks does be accounted for the legal work to buy property need in Wragby?
The amount of time taken to sell or purchase a property varies, based on a number of issues affecting the property including if you plan to take out a mortgage. Nationwide, the average is around ten weeks, whereas our solicitors aim for faster conveyancing, driving the transaction to complete within 6 to 8 weeks.
My local agent has named the law firm. Will it be cheaper to instruct this solicitor?
The agent can influence a conveyancer they refer a large volume of work to, and can therefore induce a slow solicitor to work faster. However, if the agent is paid a fee by the solicitor, an agent may choose whichever firm pays the most per referral, not the best value for you.
An un-planned event mean we have a requirement to exchange contracts on the selling of our share of freehold flat in under 30 days, do Homeward Legal have any particularly fast Wragby solicitors ?
Truly a percentage of Wragby solicitors may be tardy which creates huge stress to selling a home. Having invested in the latest technology and automated practice management systems . We also assign vendors a qualified property lawyer prepared to exert pressure with everyone in the buyer and seller chain like managing agents, to fulfil a quick move.