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The legal work involved in selling, buying and remortgaging your home and the transferring of ownership.
Legal evidence of ownership of a property.
Freehold property is ownership of both the house and the land on which the property stands. Leasehold means that you own your property for the period of the lease and you have to pay ground rent to the freeholder for the land. The lease lists the responsibilities of you and the freeholder. We can advise on this.
We strongly recommend that a survey/home buyer’s report is carried out by a qualified surveyor before you enter into purchasing a property. Such survey will reveal any defects that the property may have.
We will recommend that various searches are carried out on your behalf to find out if there are any matters affecting the property which you should be aware of before buying it. We shall advise you on this.
When the contract has been signed by both the seller and the buyer, everyone in the chain is ready ot enter into a legally binding contract and when a moving date has been agreed contracts are exchanged. After exchange neither the seller nor the buyer can withdraw from the contract without incurring financial loss.
On exchange of contracts. this is usually 10% of the sale price but with prior agreement a lower deposit can be negotiated. We will advise on this.
This is the final stage of the transaction and depending on your circumstances the day which you have to move out of your existing property and you are no longer responsible for it and when your new house becomes legally yours.
A tax charged by the government to those buying property over £125,000.
From 4th December 2014 the SDLT rates have changed. When providing an estimate of your conveyancing costs we will calculate your liability where applicable but otherwise you may use the HMRC’s calculator to ascertain liability.
Unfortunately it is impossible to say precisely as no two transactions are the same. On average approximately six weeks, but this depends on how quickly finance can be arranged and whether there is a chain involved.
Please telephone us on 01484 538421 for a quote in respect of residential or commercial property.
We ensure that all our clients are kept informed at every stage of the transaction and that your house sale, purchase or both proceeds as quickly and smoothly as possible.
Our advice can extend to the tax and estate implications of property ownership, and we are careful to ensure that advice is tailored to the individual needs of our clients.
Please see our news article on ringfencing deposit monies.