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FitzPatricks Solicitors - Business - Property - Family
The
Conveyancing Process/First time buyers guide
Our
free guide to selling and buying residential property, with money
and time saving tips and answers to many questions we are frequently
asked, will be sent to you free of charge when we receive
instructions to act for you.
Sellers
Pack - The Government intends to introduce this against a great deal
of opposition in 2002/2003. Whether or not it is successful
remains to be seen. FitzPatricks Conveyancing software is
capable of dealing with this new departure in the property market.
Stamp
Duty and other payments normally made
to third parties (disbursements)
As well as the
legal fees, there are other payments we will have to make on your
behalf. In a sale they are not usually more than £20 but in
a purchase they will include:
- Stamp
Duty at 1% of the full price if over £60,000 but at 3% on
prices over £250,000 and 4% on prices over £500,000.
- Land Registry
Fee which is based on the price - ranges from £70 to £300
on prices over £70,000 to £500,000.
- Bank Transfer
Fee of £30 plus VAT required to transfer the balance of the
purchase price on completion.
- Local
Search Fee varies depending on the local authority but is
usually between £75 and £130.
- Land Registry
and Bankruptcy Search Fees are normally not more than £5-£10.
- Landlord's
Registration Fee will usually have to be paid if the property
is leasehold and the exact sum is stated in the lease. By
way of a guide only, is normally around £20-£50. We shall advise the figure as soon
as we know.
- Environmental
Search Fee £39 - check for environmental concerns
such as landfill, potential subsidence, flooding and waste
transfer.
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