Seymours

Top tips to stop you missing out on Stamp Duty savings

The stamp duty deadline requires you to complete on your sale before 31 March 2021 – and whilst this seems like a long way off now it is closer than you think.

But when you take into account the average time to sell a property in the UK is 8 weeks, and then it takes a further 13 weeks to complete, suddenly there isn’t as much time as you first thought. The good news is there is still time to take advantage of the holiday, and the even better news is that there are things you can do to get ahead, giving you that extra bit of wriggle room – just in case.

Our teams have got together to create five top tips that will get your property on the market, sold and completed in time for you to benefit from the savings.

1. Get your property valued and listed for sale as soon as possible.

If your property is not yet on the market, this really should be a priority. Leaving it any longer is going to put you under a lot of pressure and you could end up missing out.  The best advice would be to book your valuation with your local Seymours office and let them know your intentions. They will advise you on timescales, realistic pricing and the best marketing package to make your property stand out from the competition – in essence give your home the attention it deserves.   

2.  Instruct a solicitor early on to avoid delays

As soon as you place an offer on a property (or put your property on the market), let the Seymours team know your solicitor’s details.  Getting the process moving early on, particularly if you are selling a leasehold property, can help avoid delays later down the line.

3. Get ahead with the documentation and administration

There are a number of legal documents that will be requested throughout the conveyancing process that you can actually start to get ready now – even before you receive your first offer.  This can save you time during the conveyancing process and take some of the pressure off when there it comes to the administration.

Documents required:

4. Be available and responsive

When buying or selling a property, regardless of whether a lender is involved, there are a number of documents that need to be signed, some of which will need to be witnessed. To ensure that you don’t hold up the conveyancing process, make yourself available to sign contracts, and always return documents as quickly as possible.

5. Get the funds in place for completion

Your solicitor will be responsible for collecting and transferring money during the sale of a property.  Be aware that most banks will not allow the transfer of sums over £10,000 without the use of CHAPS (Clearing House Automated Payment System), there is a charge for this but it is the quickest and most efficient way to ensure the funds arrive on time.

As always, the team at Seymours will be on hand to help you on the way however if you still are at the start of the process and would like to arrange a valuation, please click on the Virtual Valuation button on the top of the page to book yours now.