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Stamp Duty: Tips On Buying/Selling Before The Stamp Duty Holiday Ends

When will the Stamp Duty holiday end?

The Stamp Duty holiday on properties up to £500,000 will end on June 30th, and from July 1st, the holiday will apply only to properties up to £250,000, which will last until the end of September.

The pre-Covid stamp duty thresholds will then resume on October 1st.

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Beating The Deadline

If you are thinking about buying/selling your home before the stamp duty holiday ends, there’s good news! It is entirely possible, it just means you would need to make sure you have everything in order as soon as possible to meet the threshold… preparation is key.

For sellers, the first step of course would be to pick the correct estate agent. Estate agents play a vital role in how fast your property sells. Miller Metcalfe continues to hold the title of being the number 1 agent in 23 postcodes across the North West. To find out why contact your local branch here.

Once you have chosen an estate agent, the next step would be to make your home appear in its best condition and grab prospective buyers instantly. From improving your property’s kerb appeal to sprucing up your interior, there are many ways to make your property look its very best. Here at Miller Metcalfe, we offer professional photography and virtual tours all included in your package, which will not only make your home appear the very best but also distinguish it from competitors.

Receiving and accepting offers would be the next stage. As soon as you receive an offer that you are happy with you can begin the process of selling your home. There is not really any time limit on how long this takes, but of course, the better your house appeals to buyers the faster it will be!

For buyers, there are many ways to boost your chances of buying a home before the stamp duty holiday ends. From registering your interest so that you are alerted of any new properties that come to market, to knowing exactly which area you are searching in and having a deposit and mortgage in principle prepared are all key factors to get ahead of the competition in such a buoyant market. Considering factors such as properties that are not in a chain will also improve your chances of a faster home transaction.

Alternatively, look into buying/selling a property via auction. This can aid in avoiding a long conventional buying process and can also be a great way to secure a fast sale.

Once an offer has been accepted the natural next step would be to press the green light on conveyancing. Conveyancing is simply the legal transfer of homeownership from a seller to a buyer. Check out our easy guide on how conveyancing works and how we can help make the legal aspect as easy as possible here: Conveyancing.

Of course, selling your home is never going to be an easy smooth sailing process. But keeping in touch with your estate agent throughout the process is vital.

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