Completing a property sale or purchase before the end of March next year could be worth a great deal of money in Covid19, stamp duty exemptions. After all, if you cannot enjoy a sunny or snowy holiday this winter then you might as well enjoy a lovely tax holiday instead.
Think of it as a spa break for your bank account, but be quick, there is no time to delay.
Sadly, four months is not very long in property sale and purchase terms. Finding a property and a buyer, arranging searches, drawing up contracts and sorting out finance all mop up a great deal of time. So this new type of ‘quickie’ needs some careful planning and execution.
To beat the taxman, and thereby avoid one aspect of post-Covid normality that will not be welcome, there is a particular measure you can take to speed things along - hire an experienced team!
Choose a great estate agent, not just one who will find a buyer, but one who will see the sale through in time. Many people are unaware of the experience, tenacity, patience, charm, persuasion and sheer stubborn determination that estate agents deploy in order to ensure a sale goes through to completion. You pay a commission so you don’t have to find out.
Choose a great solicitor. In our digital age it is, perversely, taking longer to complete a property sale and purchase than ever.
Choose a great mortgage broker. Of course you can arrange a mortgage yourself, but in a race against time a broker will know where to go to speed things up and how to push things along.
An experienced team might cost you a bit more, but it could be a drop in the ocean compared with the savings in tax if you beat the deadline.
Moving will still be stressful, especially when working to a crucial deadline, but put the right team in place now and your worries will be fewer and your chances of success greatly improved.
Richard is based in the South Molton Office of Greenslade Taylor Hunt and may be contacted on firstname.lastname@example.org or 01769 574500.