Buying or selling a property should be a relatively straightforward procedure, given sound, professional and legal advice. However, there are many potential pitfalls along the way and here are just a few of the questions we are asked most frequently.

How long does it take for a sale to go through?

There are many factors governing this. In a simple property transaction, ie where there is no chain, and where a survey does not reveal anything untoward, the average period of time between an offer being accepted and contracts being exchanged is 4 - 6 weeks, with completion taking place some 4 weeks thereafter. It can take less, of course, and it can take a lot longer - it all depends on the circumstances, and the level of cooperation between the parties involved.

Do I have to pay stamp duty?

Stamp duty thresholds have changed in recent years. Up to £125,000, no duty is payable. From £125,001 to £250,000, duty is payable at 1% of the contract price. From £250,001 to £500,000, duty is payable at 3% of the contract price and above this, duty is paid at 4%.

How much do you charge for selling a property?

Our standard fees are calculated at the rate of 1.5% of the ultimate selling price achieved for a property, plus VAT. This is a complete charge and we include For Sale board, newspaper and internet advertising, detail sheets and photographs and all out of pocket expenses.

What if I cannot sell my property?

The sale of any property is governed by four principal factors namely the price, the agent, the market and the property itself. Assuming that all of these factors are in order, your property should sell. However, in the unlikely event of our being unable to sell a property, it may be withdrawn from our register, without charge and without a minimum agency period.

How much should I pay a solicitor?

Conveyancing charges vary from firm to firm, of course, and we would be pleased to recommend any one of the local firms of solicitors which we deal with. They will quote clients of ours a very favourable charge for carrying out the conveyancing in the sale and/or purchase of a property.

What about surveying a property?

There are different types of survey available. There is a very brief type of survey, referred to, in a mortgage application, as a mortgage valuation. This, essentially, is limited to a brief inspection of the property for any obvious faults and provides an assessment of its value. The Homebuyer's report will go into more detail and will provide a fairly extensive report with appropriate summaries and valuation. The full structural survey and valuation is an in-depth report that looks at the fabric of the property as well as its overall condition and will make appropriate recommendations and suggest a valuation.

We have links with associated firms which are able to provide this essential, professional service. Many buyers are happy to rely on the survey or valuation report carried out in their mortgage application. However, for the cautious, or where there is no mortgage involved, and subject to the age and condition of the property involved, choosing one of these reports should provide the required amount of information.

What about Home Information Packs?

The nature of Home Information Packs (HIP’s) and the timetable for their introduction has changed considerably since they were first proposed. For the latest update, check the Government's Home Information Pack FAQ