Longridge: 01772 783 314 | Garstang: 01995 602 129 | Lancaster: 01524 581 306 
 
Longridge: 01772 783 314 
Garstang: 01995 602 129 
Lancaster: 01524 581 306 

Posts tagged “Sale”

Although, as your property solicitors Preston will advise, there is a duty on the seller to disclose any relevant information about a property they are selling - the general rule is known as ‘Caveat Emptor’. Essentially, this means let the ‘buyer beware’, and stipulates that the buyer should make the necessary investigations prior to Exchanging Contracts when buying a property. 
 
This brings us to the responsibilities of your conveyancing solicitors Preston who are on hand to ensure the integrity of, and make the necessary enquiries about the property being purchased. 
When selling a property, MG Legal, your Preston law firm, understand that there can be a lot to take in and consider, in particular the amount of documentation you are required to complete. This is why your conveyancing solicitors Preston are on hand to help. 
 
There are a number of important documents your Garstangs solicitors will provide, however, you may ask, what are they for and why do they need to be signed? 
At MG Legal, we understand that the term ‘First Registration’ may mean nothing to you. However, if you are purchasing a property that is currently unregistered at the Land Registry, your solicitors in Lancaster will be required to carry out this process on your behalf. 
Recent changes to the Stamp Duty Land Tax system have produced massive benefits to first time buyers, with a total exemption of paying any SDLT on properties under £300,000.00 (See our ‘First Time Buyers – A Helping Hand’ blog for more information). Taking a different view, there are now questions as to the effects on those purchasing second properties, and many are questioning there is a need for review. 
 
Many people purchase second properties as an investment opportunity to be used as buy-to-lets, with others purchasing additional property for holiday home purposes and leisure. Records indicate that since the year 2000 the number of people purchasing more than one additional property has increased by 30%.  
 
But is this enough for our economy, and what are the effects? 
The day has arrived; it’s the day you are moving into your new home. Your conveyancing solicitor Lancaster will refer to this as the Completion day. The legal Completion date, essentially, is the agreed date on which the parties involved will move. 
 
It is likely that Contracts have already been Exchanged, known as ‘the point of no return’, which makes the transaction legally binding. In some cases, however, Exchange of Contracts and Completion can take place simultaneously on the same day. 
When you are buying or selling a property or land, it can seem like the most daunting thing in the World. Estate Agents, Solicitors, Chartered Surveyors: the list of people who you need to talk to goes on and on, but what are they really talking about? 
 
To help you along the way, our Garstang Solicitors have complied a step-by-step guide on the Conveyancing Process (also known as buying and selling a house) to help you get a head start on what you need to do. Don't worry if you have any questions about the process or about your sale and purchase, just give us a call on 01995 602 129 or email us on enquiries@mglegal.co.uk.  
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