Summer is the busiest time for property transactions. If you’re thinking of moving, are you prepared?
Use our legal checklists below to ensure you are summer sale ready.
Sales
- Check the outstanding balance on any mortgages or loans related to your property and contents that will be included in the sale such as a new boiler, windows and shutters.
- Gather together all your original paperwork especially for guarantees, warranties, planning permissions and building regulations.
- Certificates of inspection for gas and electrical systems.
- Research local estate agents and be prepared to negotiate their commission.
- If you have a flat, contact your freeholder or managing agent to check your service charge account & ground rent are up to date.
- Consider your timescales for moving. If it is less than 6-8 weeks special instructions may be needed.
- Contact us for a fixed fee quote for our legal services, which will include a full breakdown of all related costs payable to third parties.
Purchases
- Instruct an independent financial advisor (not tied to one lender).
- Obtain a mortgage offer or at least in principle for a specific sum.
- Check the date your mortgage offer expires. Usually 3- 6 months. After that your advisor may be able to extend it but only if the mortgage deal is still available.
- Contact us to obtain a fixed fee quote for legal services, which will include the property related searches and stamp duty land tax. The searches are specific to a borough and/or postcode and so the price may differ from borough to borough.
- Stamp duty is calculated on the purchase price and also if it is a buy to let transaction.
- Check if your mortgage lender has restrictions on who can be your solicitor. For example Austins is on the panel for Santander transactions.
- Consider your timescales for moving. If it is less than 6-8 weeks special instructions may be needed.
- If you are buying a flat have you factored in the annual service charges and ground rent?
Being summer ready is about prior planning and preparation. As a national Conveyancing Quality Scheme accredited practice, we can assure you with a fair price for an efficient and professional service.
Contact us for further details.