Squeaky wheel get's the oil
Advice for all sellers and buyers right now. The stamp duty deadline is looming, what can you do to help yourself make it in time
You are probably thinking 'what' are they on about. Let me explain....
Rightmove has updated us that a mammoth 613,000 sold subject to contract properties still awaiting legal completion, with Rightmove projecting around 100,000 will face an unexpected tax bill as they miss the 31st March cut-off
You could be buying only, selling only, or doing both and this could affect you soon. This is the time to get ahead and not leave everything to the last minute.
If you are purchasing it's obvious the advantage, with up to £15,000 saving in stamp duty if you complete on or before March 31st, 2021. Don't be fooled into thinking it's not the same if you are only selling, as if you don't make it through, this could have a detrimental effect on the sale price of your home moving forward.
So how can you help yourself? Be noisy!
Solicitors need to know you are there, pushing and in contact. If it goes quiet it could be a sign things are slowing down, or others are being concentrated on. There are so many transactions going through, solicitors are under immense pressure to get so many completed in time, you want to make sure they know about yours and are put to the top of the pile.
Push your agents, they are working for you. If you do not know what the next step is or the full process, let's not panic, just speak to the agent you are working with. They should want this to go through as smoothly as possible and we play key parts in communication to everyone involved.
I would say to make sure things are moving forward, at least a weekly email to your solicitors and agents to be updated, also asking if there is anything you can do. The saving affects you the most, so let's get after it and be noisy. To put it bluntly, everyone will want it to be fixed and go through, to keep things quiet.
Good luck, let's get it done.
Dan
Dan Salisbury
Avocado partner agent
Dan & Neil Estate agents