Residential Property Conveyancing
Purchasing or selling a house is one of the largest economic choices that a lot of us make in our lives. It can likewise be just one of one of the most stressful.
Khans Solicitors’ experienced team of solicitors and support staff work hard to ensure that your transaction is completed efficiently, minimising your stress levels. Our excellent relationships with estate agents ensure that we are able to progress your purchase or sale quickly and effectively, while making sure that you are kept up to date at all stages of the process.
We Are Proud Of What Our Clients Say About Us
We make use of KSolicitors for different lawful elements as well as constantly locate them to be incredibly expert. We constantly really feel extremely risk-free recognizing that we are being assisted by their actual qualified and also educated group. They will certainly constantly go above and beyond to making sure that we are maintained educated at each phase of the means.
Eugene Nadeau
Terrific individuals functioning there had the ability to aid with my non-standard question, as well as they were open in Covid time while I was fairly determined to locate any type of various other lawyer
Kevin James
We decided to do our codicils to our Wills at the break out of the Corona-virus, so we performed using the telephone or by e-mail and it went extremely efficiently. We got a fantastic online support throughout the procedure.
Joel Lee
Khans Solicitors accomplished the sale of our residence. I should discuss Muhammad Akram Rana particularly, he was really practical with recommendations when I required it as well as pleasant as well. I will absolutely return to Rana when we are offering once more.
Iqbal Butt
I possessed affair to handle along with Omar and also his co-worker Imtiaz worrying a significant illegal issue. Our interactions were actually done 'long-distance', as well as I located both Omar and also Imtiaz to be actually incredibly helpful, interesting as well as expert.
Danii Achury
I have utilized Khans Solicitors on a number of events. Omar guidance has constantly been prompt and sensible. I will most definitely be using Khans in the future, as well as they are now a main part of our company planning for the future.
Cory Lisbon
I utilized Khans Solicitors for a family law issue. Martin was very straightforward to take care of, I found him to be specialist in his method as well as a satisfaction to manage. I would have no reluctance in using him as well as Khans Solicitors once more.
Mix Game
Frequently Asked Questions
There are different legal aspects that should be considered when buying a property:
- The property buying process, including legal considerations and searches
- Exchange of contracts
- Completion
- Registration
Property searches
In order to protect you and your lender, we are required to carry out searches on the property you are proposing to buy. These include:
- The local land charges register, which details any obligations owners have to the local authority or government.
- Other local authority records, such as planning decisions, road building proposals and rights of way. The search will only cover the specific property you are buying and will not give information on neighbouring properties or any planning proposals in the nearby area.
- Drainage and water services to the property detailing whether waste water goes into a public or private sewer.
- The environmental search, which investigates whether the property is on contaminated land or at risk from other environmental factors, such as flooding.
- Chancel Indemnity Insurance to cover you against potential Chancel repair liability (repairs to local church).
- The searches are not the same as a survey. Whilst the searches are a desktop study on legal matters affecting the property, the survey is a physical inspection by a qualified surveyor. We do recommend having a survey carried out. This is something which falls outside of the legal process and you should look to arrange it with a surveyor directly.
This is the part of the process where you become legally bound to buy the property. This exchange of contract is done formally through a telephone conversation between solicitors. It defines price, date and the machinery of completion. Note the following:
- Until the exchange of contracts, either party is free to withdraw from the transaction without penalty.
- You will have to pay part of the purchase price to the us as a deposit. We at Khans Solicitors will hold this until completion. This can be forfeited, if you fail to complete the contract.
- The law on property purchases says “buyer beware” so it is important that you have inspected the property before exchange of contracts to ensure that you are happy with its boundaries and physical condition, as you are unlikely to be able to claim any losses from the seller at a later date.
- Your buildings insurance should be arranged to take effect from the point that contracts exchange (rather than completion) because it is at this point that the risk for any damage to the property passes to you.
The day on which you pay the rest of the money (having already paid the deposit) and receive the keys is called the completion date.
We can assist you throughout the process of buying a property, and take over some of the work, such as the searches and checking the legal rights and burdens which come with the property.
However, our services go even further. We can advise you on legal considerations when buying a property:
The time of buying a house is probably the time to re-consider your Will and Inheritance Tax issues generally. We have a dedicated team who can advise you on these matters and this could save you problems later on.
Furthermore, we can advise you on capital Gains tax :
Should you eventually sell the property, if it has risen in value, you may have to pay Capital Gains Tax on the difference between what you receive for the property and what the property cost to acquire, improve and sell, after allowing for inflation. If the house is your main residence then no Capital Gains tax is chargeable at all, but you should bear in mind that you are only entitled to have one main residence.
