Property Swap Explained
A property swap follows the same process and incurs similar
costs as a standard property transaction.
Typically, parties settle the balance
of the difference between the agreed property values, streamlining the exchange
of funds.
Otherwise, it mirrors a conventional transaction.
Regarding taxes, Stamp Duty was previously calculated on the
value difference between properties, but HMRC now requires it to be paid on the
full market value of both properties.
Fixed Fee irrespetive of property value £1,500 per
property.
Incudes:
Marketing.
Photography.
Video tour - Property or Area
Floorplans.
Compliance.
Accompanied viewings.
Negotiations.
Memorandum of sale.
Liaising with:
Yourselves.
Swappers.
Surveyors.
Solicitors.
Instructed third parties.
What you will need to provide to us prior to marketing your
property.
Proof of Identity and Address.
Proof of Ownership.
Energy Performance Certificate (EPC).
Property Information Form (TA6 Freehold).
Property Information Form (TA7 Leasehold).
Fixtures and Fittings Form (TA10)
Leasehold Information.
Building Regulations Certificate.
Warranties and Guarantees.