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Why is a lasting power of attorney is so important?

A Lasting Power of Attorney is a legal document that allows you to give authority to someone you trust to make decisions on your behalf if you are unable to do so yourself, or if you no longer wish to do so.

It is essential when dealing with health issues of loved ones as you have authority over how they’re treated. Without a Lasting Power of Attorney, for example, a child cannot decide whether to keep parents at a care home or take care of them themselves. They cannot make decisions about a property their parents own without them saying so even if they are suffering from deteriorating mental health or memory loss.

It is important for you to be able to deal with property, finances, health and welfare with a Lasting Power of Attorney. In a time period where our health and welfare is in a precarious situation, knowing what will happen to your finances and property is crucial more than ever in case of the worst.

Unfortunately, it is not reliable to assume your children or family members will automatically step up to take care of you or your finances if disaster strikes. This goes for both young adults and the elderly, Problems may arise at any time and it is essential you have power over your assets!

Two types of Lasting Power of Attorney

Property and Finance

This is a Lasting Power of Attorney that revolves around dealing with property and finances including bills, bank accounts, investments, tax and more

Health and Welfare

This is a Lasting Power of Attorney that revolves around your health and welfare including medical care, food you can eat, where you live and who can come in contact with you

Why make a Lasting Power of Attorney?

Unfortunately, when we are in times of need, it’s very beneficial to have someone you know will make important decisions on your behalf. Circumstances can change at any moment, your health could take a turn for the worst or a situation may leave you away from your property for a long time. As a result, having a Lasting Power of Attorney in place will ensure your peace of mind because someone you trust and chose yourself will be in charge of decisions. In addition, it reduces stress you and loved ones may experience as it saves both money and time.

What happens if you don’t have a Lasting Power of Attorney?

If you lose the capability to make your own decisions and do not have a Lasting Power of Attorney, an application to the Court of Protection would be the next step. This application is for appointing another person as a deputy to make decisions on your behalf however it can be extremely costly and a time consuming process. During this period, family and loved ones cannot access any of your accounts and manage your properties or health, which can cause a lot of stress and uncertainty.

Consequently, having a Lasting Power of Attorney will give you the assurance your affairs will be taken care of by someone you trust if the worst comes to pass.

At Versus Law we can help talk you through the process and help get things put in place. For more information and a free consultation fill in our online enquiry form or call 0161 413 2093.

How to increase the chances of selling your home

Selling your house can be the difference between getting your dream home or having to settle with second best. The process alone is stressful and complicated without the added worry of if your old place will even sell. Sometimes we just need a simple reminder of what we need to do to get back on track.

It takes an average of three to five months for property to sell depending on the demand. Take a good look at your property: is it in a desirable location, is it functional or pleasing to the eye, did you just put it up to sell a week ago? Of course the more expensive the property the longer it will also take to sell because of the lack of buyers in the budget range. All these are important factors to keep in mind when selling your house.

1. Sell your property using multiple agents

Estate agents only have around a quarter of the market share when it comes to any area so there is a lot of competition between agencies. As a result, it is highly beneficial to sell your home via a multi-agent sales process to increase exposure and offer rates.

2. Present your house with a buyer in mind

When presenting your house to a potential buyer, what you need to aim for is making them feel welcome. Let them visualise themselves living in your home and making it theirs. Show them where the kettle would be but also leave space for them to imagine what they would put beside it. Find the balance between cleaning out the space and making it look like a place they can call home.

3. Revive and freshen up the house

Paint over the doodles on the wall and fix that broken light in the kitchen. Make your property look presentable so all the future owners have to worry about is redecorating.

4. Make the first impression count

A neat kept garden will give potential buyers a good impression of the property. You don’t need to spend excessively on exotic plants or water features. Just have the windows cleaned and cut the grass to ensure that all important first impression is a good one.

5. Take pictures of your home in the correct way

It’s all well and good to have an immaculate home but your pictures need to showcase it. Ensure your pictures are taken in good lighting and take multiple shots of each room so you can pick the best ones. If you are unsure what to take pictures of within your home seek advice from your estate agent.

6. Regularly assess whether your home is at the right price point

Making sure your property has been correctly valued could be the difference between finding a buyer or not. Sometimes an estate agent can overvalue your property, not fully taking into account the neighbourhood you live in or the average home prices around the area. Add in the competition of other properties and agencies, your home may be up with a disadvantaged price. Have a look at the homes selling around your area and compare it to your own, is it overpriced or maybe even under-priced. Review this regularly to give yourself the best chance of finding a buyer.

7. Have patience

Your price may be reasonable and your pictures pretty as can be but perhaps you picked a bad time to sell. On average, spring is the best time of year to sell your home with late autumn and early winter being the next best thing. But remember to take it with a grain of salt. These are not the only times your property can sell just the periods in which it is most common.

A few tips for selling like a pro

Choose the estate agent with the best record and talk to them yourself, don’t rely just on your friend or a random top ten YouTube video.
When negotiating a deal you should make sure there is no exclusivity clause in the contract. With this you can negotiate smaller fees while managing less of the process as well as take advantage of future tips.
Don’t leave it all up to your agency. Get involved and monitor your viewing activity so you can take action if necessary or be rest assured when it’s going well.
Find a second estate agent after a few weeks to bring more exposure to your property and keep up the momentum of your property. Different agencies will also be in competition so they will work harder to find a buyer for you first.
Answer all questions within a reasonable time, preferably 24 hours. If you have a buyer, do not keep them waiting. Being in constant contact can be the one thing that stops them from moving on to another property. Be hospitable and help as much as you can.

And finally, can you buy a house before you’ve sold yours?

Technically, yes. Is it practical, often no. Houses aren’t cheap. For the average person, buying without selling your previous property first has financial risks attached therefore it is important to consider the sustainability of such an endeavour. If you cannot sustain both properties in the long term on the basis your current property may not sell in the foreseeable future, it would be a large financial risk to take. Most finance options for owning two properties accommodate for short term situations such as ‘quick sales’ and bridging loans. These are only advisable if you can financially sustain two properties in the long term to begin with.

Why choose Versus Law for your conveyancing needs?

Whether you are selling, buying or both when you instruct Versus Law Solicitors to complete your residential conveyancing you will receive a diligent and transparent service throughout the conveyancing process. We provide expert advice and guidance at every stage of the process. We will also resolve any legal issues that may arise.

With more than 10 years’ experience as award-winning residential conveyancing solicitors in Manchester, our acumen is unquestioned. Our thorough residential conveyancing services include the following:

Full legal support when buying or selling a residential property, including Buy to Let and other investments
Handling or mortgage transfer
Equity Release Schemes
Legal guidance on Buy to Let Schemes
Legal guidance on Right to Buy Schemes
Shariah finance
Sound legal advice on lease and freehold properties
Buying or selling a property at auction
Purchasing a new build

Interested in learning more about why Versus Law has built a standout reputation as one of the most conscientious and trustworthy residential conveyancing solicitors in Manchester? Contact us today on 0161 413 2839 or email us at property@versuslaw.co.uk for your FREE consultation. If you prefer, you can complete our contact form here.

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The Transition from Furlough to Redundancy

With 70% of staff being furloughed last April, the world is experiencing uncertainty with the future and this has not passed companies by. Many do not know if they will still be around a year or two from now and are bound to take action. As a result, companies must pick between three primary options:

Extending an employee’s furlough leave
Requiring them to return to work full time or part time
Leaving them redundant

Unfortunately, the last option has been highly common during this global pandemic. While this is a stressful time for anyone going through it, we’re here to make sure you know if your old job is following the government rules and regulations on redundancy or if you are an employer how to get the process right.

How does furlough leave become redundancy?

The correct redundancy procedure:

Before contacting the affected employee(s), employers must first notify the Redundancy Payment Service (RPS); this must be done before the consultation starts.
Employers must then contact the affected employee(s). For large-scale redundancies, trade union representatives or elected employee representatives can be contacted instead. Thorough and concise information will need to be provided to the affected employee(s) about the planned redundancy.
If the affected employee(s) has any requests, the employer should respond to them as quickly as possible.
The employer must provide clear guidance relating to the termination notice(s). The notice must display the leaving date that has been agreed upon by all parties.
The final stage in the process is to issue the redundancy notice(s). This should only be done once all of the above steps have been completed.

*The redundancy notice period can begin while an employee is on furlough; however, the employee will need to receive their pre-furlough salary for this period if they have statutory minimum notice rights. Up to 80% of this can be reclaimed from HMRC, but the remaining 20% will have to be covered by the employer. Employers are also NOT allowed to use furlough payments to cover redundancy payments.

Compulsory vs Voluntary Redundancy

When deciding to make an employee redundant, an employer must choose between offering voluntary or compulsory redundancies.

What is compulsory redundancy?

When an employer makes an employee or employees redundant.

What is voluntary redundancy?

When an employer asks employees if they wish to be made redundant.

Regardless of redundancy type, an employer is required to make the process fair and free of any potential bias. They must ensure they cannot be criticised for the way they go about employee redundancies by factoring in quality of work, attendance, disciplinary records and the skill of the worker.

What is a collective redundancy?

In response to the devastating impact of coronavirus, collective redundancy has risen substantially. This is a redundancy where an employer makes 20 or more employees redundant within a 90-day period.

During this, they must follow collective consultation rules which vary depending on the mass of workers being made redundant. For example:

If 19 or fewer redundancies are being made, there is no minimum consultation period but employers must still contact the RPS before the first redundancy takes place
If 20-99 employees are experiencing redundancies, employers must contact the RPS 30 days prior to the first redundancy taking effect.
If 100 or more employees are being made redundant, then the employer must contact the RPS 45 days before the first redundancy.

If you would like legal advice regarding the topic of redundancy, please complete the enquiry form or call us on 0161 249 5087 so we can help you to determine if you have a case and discuss your options.

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The ultimate house moving checklist

Very few people enjoy moving to a new house since it is a major disturbance. However, with the correct preparation and forewarning of any likely hindrances, stress levels can be kept to the minimum.

There are countless things to be done when moving to a new house, and the number of things to be remembered is enough to overwhelm you. So, we’ve put together a checklist to go through to ensure you don’t forget a thing.

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Two months before the big move:

Book a removal company
Give your landlord a notice of renting
Buy your packing supplies – boxes, storage, tape, etc
Sort your belongings – Get rid/donate things you don’t need, you wouldn’t want to clutter your new home
Begin packing unessential items
Confirm new school placements and inform the existing school (if you have children)
Book kennels or a cattery in advance

One month before the big move:

If you have a long drive ahead of you, have your tyres checked and car serviced
Register with a new local doctor/dentist (if moving to a new area)
Inform your local council of your change of address and cancel council tax payments
Inform your phone and internet providers, DVLA, bank and TV licensing of your change of address
Inform Inland Revenue
Update your insurance providers. Make sure you have home insurance sorted and ready for the day you move in
Confirm your moving arrangements with moving firm
Start putting items you don’t use every day into boxes and label them – e.g. seasonal clothes
Arrange for childcare and a pet sitter if possible

Two weeks to the big move:

Let your family and friends know of your change of address
Update your address for online subscriptions
Clean your house as you pack
Arrange for your mails to be re-directed to your new home

One week to the big move:

Confirm plans with your solicitor and estate agents that the move is going to plan
Ensure your packing is coming to a close – double check the attic and garage
Ask your neighbours to allow for room for a removal van in front of the house
Empty and clean the fridge/freezer
Clear out the kitchen cupboards
Organise the move route
Remind family/friends you’ll need a hand next week
Pack valuables and important documents in a safe place to take in the car with you

The day before the big move:

Make sure you charge your mobile phone
Put all practical items in an easily accessible place; e.g. tape measure packing knife, extension lead, etc
Make a first night essentials box; e.g. medication
Pick up your hire van/ confirm tomorrow’s schedule with the van company
Take all the boxes downstairs to make loading into the van easier for tomorrow
Put all valuables and important documents in a safe place to take in the car with

Moving day to do list:

Make a record of any utility meter readings for water, gas and electricity. Take a photo of the meter for the record.
Strip the beds and curtains
Do the final checks of the bathrooms for toiletries

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Loading the van:

Instruct the movers on what is moving
Complete the final checks of the house
Leave the keys as arranged for the landlord/ new owners

CONTACT US

Versus Law solicitors provide Conveyancing services for those ready to buy their home. Interested in learning how we can help you manage your conveyancing? Get a FREE consultation with one of our Manchester conveyancing solicitors by contacting us today on 0161 249 5087 or email us at property@versuslaw.co.uk. If you prefer, you can use our online conveyancing calculator.

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How we can help you deal with criminal injuries

Before we go into the time frame for CICA claims to pay out, first you should understand what a CICA is and why it exists.

The Criminal Injuries Compensation Authority, commonly abbreviated to CICA, is a Government-run scheme that offers compensation to blameless victims of violent crime, sexual assault and abuse. On average, just under 35,000 settlements are agreed upon annually to help innocent victims to receive the support they need to get their life back on track again

To be eligible for a CICA claim, a victim must have suffered from a physical injury or psychological trauma with the severity impacting the compensation. The compensation you receive can range from £1,000 to £500,000. For the claim to be successful, the crime committed must be reported to the police. If the alleged criminal is not identified, caught or convicted, you may still be able to seek legal redress and obtain a settlement.

If there is doubt that a claim in the civil courts will succeed, it is worth considering a claim for compensation under the CICA scheme. In addition, it is worthwhile to inspect if the perpetrator has insufficient assets or insurance to meet the agreed settlement.

CICA claims are unlike criminal courts cases where verdicts are made based on being ‘beyond reasonable doubt’, instead they are assessed using a ‘balance of probabilities’ as proof.

So when should you submit a claim to the CICA?

When entering a CICA claim, an applicant has a right to submit within 2 years of the offence unless they were a minor at the time or other exceptional circumstances related to the crime. It is not necessary to wait for the outcome of a criminal trial before submitting a CICA claim. This is especially vital if the trial outcome will not be decided within the 2 year window that the applicant has a right to. Often than not, victims are advised not to submit a CICA claim before a criminal trial has concluded by the CPS or police. However, as mentioned just before, this advice poses a risk if the trial period suprasses the claim period.

If the circumstances lead to you feeling like you should take such advice to delay your claim, ensure you ask them to put the advice in writing. This can later be used as evidence to the CICA as to why your claim was submitted outside of the 2 year window.

How long does a CICA claim take?

While there is no specified time given by the CICA, they aim to make a decision on applications within a 12 to 18 month period. If the case is of a higher complexity or contains higher-value settlements, the application process can take much longer.

A higher complexity case usually involves serious injury and ongoing medical treatment where the recovery date of the victim is still unknown. As a result, a final decision on the claim cannot be made until there is a clear prognosis. However, depending on the circumstances, it may be possible to ask the CICA for an interim payment.

Certain CICA claims can be fast tracked

When it comes to sexual assault cases, the CICA aim to deal with applications within 8 weeks where the victim wants the case assessed with police evidence only. This option is usually used when a victim has not suffered from psychological damage from the sexual assault.

If an applicant has suffered from psychological injury which has been clinically diagnosed by a psychiatrist or psychologist, the process is longer. This is because a final decision can only be made through a normal application as it allows the CICA time to obtain medical evidence to support your case.

Why is my CICA claim being delayed?

When it comes to the length of assessment time for an application, it varies depending on the information that needs to be gathered from medical professionals and organisations like the police. The time it takes to receive such information can cause a large delay in reviewing an application claim. The CICA may also require evidence from the police and other organisations to help them reach a final agreement in cases where the alleged perpetrator of abuse has not been convicted. Similar to the point made earlier, if a victim is experiencing medical treatment with an unclear prognosis that will also delay the CICA in making a decision.

Once decided upon, how long does CICA take to pay out?

If a settlement has been successfully agreed up, a client must then notify the CICA of their acceptance. Within four weeks of agreement, the compensation should arrive to your bank account.

If the compensation is for a minor, the money will be held in an interest-bearing bank account until they turn 18. If the compensation is for someone who lacks mental capacity to make their own decisions, it will be held in trust for the applicant.

Can I make a claim independently?

While a CICA claim can be pursued without legal assistance, it can easily become tedious and feel drawn out. We truly believe our specialist legal advice can be the difference between a successful and rejected claim.

If you wish for us to act as an advocate on your behalf, please do not hesitate to get in touch with our claim team by filling in our online enquiry form or calling the number at the top of the website.

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Stamp Duty Holiday Extension

WHAT EXACTLY DID THE CHANCELLOR ANNOUNCE?

Rishi Sunak has declared the stamp duty holiday will be extended until the end of June 2021. That means homebuyers in England and Northern Ireland will pay no stamp duty on properties worth up to £500,000.

The extension will save an additional 300,000 home buyers up to £15,000.

An extension to the deadline was widely anticipated. Surprisingly, the Chancellor also announced that stamp duty will be tapered after the holiday ends. With the aim to ease the transition back to normal, the nil rate band will be £250,000 until the end of September. It will return to the usual threshold of £125,000 on 1st October.

The news will hopefully come as a relief to those buyers and sellers who have been desperately trying to get their sale completed in time to meet the previous deadline of 31st March.

At Versus Law, our specialist team of solicitors offering conveyancing in Manchester are well equipped to deal with property transactions of any description. We have been delighted to provide expert services to our clients across the North West who have either purchased or sold properties during the stamp duty holiday period.

What is the stamp duty holiday?

Chancellor Rishi Sunak introduced the stamp duty holiday in July 2020. It came into effect on July 8 and will now run until September 30, 2021. The aim was to give a boost to a housing market that had ground to a halt by offering a stamp duty break on the first £500,000 of the purchase price of a property in England or Northern Ireland.

Stamp duty is simply the money we pay to the taxman when we buy property or land in the UK worth over a certain value. The previous threshold for stamp duty land tax (SDLT) for residential properties in England and Northern Ireland was £125,000 (for first-time buyers it was £300,000).

The tax break means that house buyers could save up to £15,000 when buying a new home.

STAMP DUTY HOLIDAY RATES TABLE

Property Purchase Price	Stamp Duty Rate
£0 to £500,000	0%
£501,000 to £925,000	5%
£925,000 to £1.5 million	10%

The stamp duty bands will remain otherwise unchanged. So, for the duration of the holiday, there will be no initial stamp duty band. Instead, stamp duty will jump straight to 5% for properties costing from £500,000 to £925,000 and then to 10% for properties up to £1.5 million.

What other help for homeowners is there?

The chancellor also announced a new “mortgage guarantee” in the Budget.

Starting in April, the government will provide a guarantee to lenders who offer mortgages to people with a deposit of just 5% on homes with a value of up to £600,000.

The government says the scheme will allow more people to become homeowners.

Lloyds, NatWest, Santander, Barclays and HSBC will be offering 95% mortgages from April, with other lenders including Virgin Money expected to launch products later.

Before the announcement, stamp duty in England and Northern Ireland was paid on property sold for £125,000 or more. First-time buyers did not pay any stamp duty up to £300,000.

Landlords and second-home buyers are also eligible for the tax cut but will still have to pay the additional 3% of stamp duty they were charged under the previous rules.

At Versus Law, we support the extension which will allow more of our customers to benefit from the savings however due to the increase in sales and purchases taking place as a result of the stamp duty holiday now is the time to get in touch and start your journey to purchasing your new home. Click here to use our handy conveyancing calculator for a free no obligation quote and remember the earlier you start the process the better your chances of completing your purchase on time.

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How to sell your property

When it comes to selling your home, it can feel quite overwhelming. In this guide, we will uncover the factors you need to consider when you go about selling your home.

Make your home look the best it can

The property’s exterior is extremely important. First impressions matter. You don’t want a potential buyer walking away because of an overgrown lawn.

Some things to do which won’t cost you much:

– Mow the lawn

– Clear the driveway

– Clean the windows

– Clean/paint the front door

The interior of the house is just as important as the exterior. Signs of wear and tear can be seen even in the best kept properties. Therefore, the first step and the most important are sorting them out, to allow yourself to sell your property at the maximum price possible.

Tidying and decluttering can make your home more sellable. If possible, make the house less personal to encourage viewers to see themselves there.

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Getting your home valued

Once your house is looking its best, getting it valued is the next step.

Research at this stage is imperative. If not done correctly, it could leave your home on the market for a long time, or it could be sold below the market price.

Before having an estate agent value your home, check the sold house prices in the past 12 months with an online agent such as Zoopla, or Rightmove.

Online agencies will allow you to compare your property to those of a similar size and spec.

Rightmove will allow you to do this pretty accurately.

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Getting the estate agents in

Once your extensive research has been carried out, you’re ready to have the estate agent in.

You should have at least 3 agents to value your home. Don’t concern yourself if you decide you don’t want to use that estate agent for the actual sale, as you’re not committed to them.

To get the most balanced view, it is worth asking different types of estate agents for valuations. For example, a big high street chain, a small local one and an online one. And get them to bring paperwork on sold prices in the surrounding area.

Meeting estate agent

Contacting our conveyancer solicitors

Conveyancing is the transfer of the legal title of a property from one person or party to another. There are normally two stages to this: the first is the exchange of contracts, the point at which the terms of sale are agreed. The second is the completion, the point at which the legal title is transferred from one party to another. Conveyancing can, at first glance, seem like a very confusing process but rest assured our team who provide conveyancing in Manchester and the surrounding areas will alleviate the stress of moving! We communicate with our clients every step of the way.

The conveyancing process has stringent guidelines that must be adhered to in order to demonstrate the legal transfer of property. There are several steps that must be completed to secure the transaction. These are as follows:

Initial paperwork and draft contract
Preliminary enquiries by the buyer’s solicitor
Arranging for a survey
Approval of the draft contract
Mortgage offer
Exchange of contracts
After exchange
Completion

WHY CHOOSE US?

Versus Law has more the 10 years’ experience providing perceptive and proactive conveyancing in Manchester to clients across the region and beyond. Whether you’re based in the region or across the UK we will confidently manage your conveyancing requirements.

We provide astute commercial and residential conveyancing services. This includes the sale of commercial land and buildings, the sale and purchase of commercial enterprises, and a trusted service for landlords, in addition to residential sales and purchase, re-mortgaging, and home equity release services.

As a member of the Law Society’s Conveyancing Quality Scheme, we are recognised for the quality of conveyancing that we provide our clients.

Our conveyancing practices are supported by our transparent approach and client-centric ethos. We promise competitive fees and a clear quote upfront prior to any work being undertaken.

CONTACT US

Versus Law solicitors provide Conveyancing services for those ready to buy their home. Interested in learning how we can help you manage your conveyancing? Get a FREE consultation with one of our conveyancing solicitors by contacting us today on 0161 249 5087 or email us at property@versuslaw.co.uk. If you prefer, you can use our online conveyancing calculator.

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Handling Discrimination in the Workplace

Discrimination is the unequal treatment of an individual or a number of individuals who are considered protected under the Equality Act 2010.

The Equality Act 2010 works to protect employees from any form of discrimination and there are certain ‘protected characteristics’ which include age, religious beliefs, disability, pregnancy or maternity, race, gender, marital status and gender reassignment.

Discrimination can have a negative impact on one’s career, confidence and mental health and therefore should not be overlooked.

There are four different ways in which one may suffer from discrimination:

Direct discrimination – this implies that an individual is being treated differently to others due to their ‘protected characteristics’ e.g. a woman not getting a promotion due to her gender.
Indirect discrimination – this is when there are certain measures in place that apply across the board, however are unfair to you due to your protected characteristics. E.g. your company have all their employees work a 9-5; however you have a disability, which means you need to travel outside of rush hour.
Harassment – this is unsolicited behaviour towards an individual which is related to a protected characteristic that creates an offensive environment. E.g. comments based on gender or religion.
Victimisation – this is when an individual is treated unfairly due to their complaint against discrimination or harassment. E.g. not being invited to work events due to the fact you called out a colleague’s racist language.

Make A Note of Everything

From the moment you begin to notice you’re being discriminated against, make a record of everything that is being said, done or sent to you electronically or physically.

Keep a diary with what was said, when it was said and the wording , specifying the discriminatory comments or actions. Include who was there when the comments were made.

Moreover, you may feel like discarding of any evidence, such as photos or emails, but this is what will prevent a ‘he said/ she said’ quarrel. All of this can be used as evidence in court.

CONTACT US

Here at Versus Law, we have helped thousands of clients throughout Manchester – and across the UK – to help support those who are being discriminated against in the workplace. If you would like legal advice regarding any form of discrimination because of a protected characteristic, contact us today on 0161 504 7563 or email us at info@versuslaw.co.uk.

We can help you to identify any claims you may have, advise on time limits, your employers liability and discuss your settlement options.

We offer a range of funding options available to assist you and in some cases, we can offer a ‘no win no fee’ arrangement.

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Buying A Property From An Online Auction

Physical auctions are no longer an option due to the pandemic, however many are still going ahead online.

Buying a home at auction can be a great way to pick up a deal, but it’s not always straightforward and there are various pitfalls and details that you should be aware of before taking the plunge and putting in the highest bid.

Below, we give some tips for those thinking about getting a residential or commercial property at auction.

View the property

This sounds basic, but purchasers don’t always view a home before they place a bid. Auctioneers will provide comprehensive information on homes being sold, but nothing compares to seeing the residential or commercial property with your own eyes to see the scale of any possible work needed.

Viewing may not be possible but at the very least you can request to see a video tour of the property you are interested in. It is strongly encouraged to review everything and talk to the auctioneer prior to the auction to clarify any points.

Review the legal pack

A legal pack for all properties sold at auction will have been prepared by the seller’s lawyers. It will consist of details in relation to the property including:

– fixtures and fittings

– lease details

– Land registry and local searches paperwork

– Any information in relation to planning permissions

The pack can be downloaded on the auctioneer’s site or from the vendor’s solicitors. It needs to read by prospective purchasers, or they can instruct a solicitor to evaluate the documents on their behalf. At Versus Law we look at this type of paperwork all the time therefore we can confidently check everything for you if you decide you need some help.

Get your ID together

Everyone wanting to bid in a property auction needs to offer photographic I.D along with an evidence of residency. If you are the successful bidder, you will need to provide this to the auction house and be prepared to undertake further identity checks if necessary.

Arrange finance prior to bidding

It is necessary your finances are in line prior to bidding on a property. If a loan is required lenders may require a property surveyor to undertake an evaluation before agreeing to lend the funds required. Once you have found a property and you are certain you would like to purchase it at auction this should be arranged as soon as possible.

If you put in the successful bid, you will be asked to sign the sale contract and pay a deposit immediately. This will typically be 10 per cent of the purchase rate. The remainder of the balance is due within 28 days. Therefore unless you’re a cash purchaser, this does not leave a lot of time to find and complete a mortgage application. It is therefore advisable to already have a mortgage in principle in place prior to bidding.

Bridging loans do offer a short-term solution to getting a property paid for prior to the 28-day due date while you wait for the bank to process your mortgage funds however it is worth noting that if you are unable to raise the finance in time, you will lose the cash spent for the deposit in addition to any cash invested in surveys.

Guide Prices – It’s just there to entice you.

The guide rate is set low to attract bidders. On average properties are likely to sell for 10 percent more or even greater, and it is worth budgeting for this when looking at the guide price and prearranging any finance.

The guide rate can be raised soon prior to the auction starts if there is a substantial amount of interest, so it is worth checking again right before the auction starts.

Upcoming auctions can be found through an online search, while auction homes will also be noted on websites such as Zoopla and Rightmove.

CONTACT US

Here at Versus Law, we have helped thousands of clients throughout Manchester – and across the UK – to achieve buying property. To receive your FREE consultation with one of our solicitors, contact us today on 0161 504 7234 or email us at info@versuslaw.co.uk.

Contact Versus Law

Tips for buying commercial property

Commercial property investment, requires a lot of research and knowledge in order to be successful. This is especially true when it comes to first-time buyers. Whether you are looking to buy a building for shops, warehouses, flats or offices.

At Versus Law we have put together a handful of tips for anyone keen to purchase a commercial property.

1. Conduct thorough research

Researching is vital. Look into long-term predictions for the location you are viewing property in – is there anything that may help or hinder property values in the future? A decline in value of your commercial property could decrease your business capital therefore spend some time checking the details.

2. Determine your investment budget and return goals

It is a fact that buying commercial property for your business is rarely cheap. When budgeting, you must factor in any new furniture your new premises will need, as well as long-term upkeep and ongoing costs which will inevitably incur. Having some extra money in the bank can help to avoid any problems you may encounter along the way.

Compared to residential property investments, commercial properties have much more room for potential. The location and type of property you are looking to invest in will go a long way in determining your potential returns. So always take supply and demand into consideration.

3. Take advantage of low interest rates

When considering purchasing a commercial property, it is wise to keep a close eye on interest rates as they are constantly fluctuating. Although they won’t stay constant for a long period of time, it makes a mortgage an attractive option. Re-mortgaging your property will help to increase additional capital, which will be considerably cheaper than a business loan.

4. Get your financing in order

Depending on your financial situation, you’ll want to consider strongly whether purchasing or leasing makes sense for you. For most people, leasing will be the more realistic option, which means you’ll need to locate funding options. These can range from banks, credit unions and mortgages.

5. Set realistic objectives

Experts and professionals who have years of experience investing in commercial property are a brilliant resource. Seeking opinions from a number of people before making a decision is never a bad option.

As with any other investment, having your feet planted firmly on solid ground is essential. The best plan when buying commercial property is to always keep your goals in mind, know how you’ll finance your purchase, study the market religiously and remain patient. By doing this, when the right opportunity arises, you’ll be ready to pounce and reap the rewards.

Whether you’re a property owner with a vast portfolio, are a landlord with a single or several investment properties, are looking to buy or sell a commercial property or are a tenant, we can help guide you through the legalities of your next sale or purchase.

CONTACT US

Interested in learning how we can help you manage your commercial conveyancing? Get a FREE consultation with one of our conveyancing solicitors in Manchester by contacting us today on 0161 504 7285 or email us at property@versuslaw.co.uk. If you prefer, you can complete our contact form.

140 Reviews

A Ali

Versuslaw especially Anita Craig helped so kindly from 2018 for pia delay flight claim which was showing possible but Ms Anita Craig proved it again that versus law can do it. Thank you will use again and recommend 100percent.
R Nabi

We have just completed on a buy and sell having used Versus Law for both sides of the transaction.
Versus Law have been immense throughout, with the Conveyancer looking after our ‘purchase’ working hand in hand with his colleagues to keep us informed of how the ‘sell’ was progressing too.
Amazing bunch of people. There should be more firms providing this high level of service.
B Keane

Very professional and up to the task
I found versus law straight forward and very helpful.
K Boon

i recently completed on a property and was guided really well by Katrina and Lisa. Ive never purchased a property before so really didn’t know what was involved. It was easy and seamless no stress at all followed by a price that was so much cheaper than other quotes I’d had
M Rehman

Having had my PIA flight delayed for over 5 hours.. Anita Craig of versus law solicitors was a great help. Every step was made easy for me to understand and I will definitely be recommending yourselves to family and friends.
J Nugent

They made the whole process of my injury claim
simple and straight forward, They even managed to get
me my compensation before Christmas which I wasn’t expecting, A big thanks to Kulbinder Mehay
Steven P

Excellent work, thank you.
Liz

Nicola Nolan and Natalie Moylan are an excellent conveyancing team. We have used them more than once and recommend them to friends and family (who were also impressed). This time they were involved in us buying a property in Wales and kept us informed all the way through, even with covid restrictions causing problems. They are friendly, efficient and get the job done in a no-nonsense way which is what you need. They take the stress out of conveyancing for you. Very impressed and would recommend to anyone and everyone.
Gem

I was selling my home which had a complicated title and versus law was recommended to me. Natalie Moylan handled my case from start to finish and I couldn’t ask for anyone better! There were no obstacles that couldn’t be overcome and in a very fast turn around too. The sale completed in no time at all. Natalie was timely, professional and friendly and an absolute pleasure to have on my side. I would strongly recommend Versus law to anyone.
Bonnie

I have used the services of Nicola Nolan at Versus Law twice this year and was instantly put at ease and very impressed with the help received and the outcome achieved. Would recommend without hesitation
Daniel

I called to get some documents certified, the ladies on reception were so helpful. I am very happy with the service I received and will use Versus Law again.
M

Dealt with my flight claim hassle free and super quick, I was continuously updated every step of the way and overall really pleased with the outcome. A personal thank you to Anita as she couldn’t have made it easier for me and saw through any problems I had!
Richard

I purchased my first home in February, and used Versus as my solicitor. I dealt with Natalie Moylan from start to finish, who was excellent throughout. The purchase ended up being delayed and resulted in a quite hectic finish, but Natalie remained calm and professional at all times, whilst providing a very high quality of work. My thanks to Natalie and her team, for making a long purchase so much easier!
C Savage

We were selling our house (through Nick) and buying a house (through Natalie) and I can honestly say these are the best solicitors we’ve ever used (we had always used ones in London previously). They both kept us informed on a regular basis as to how things were progressing which I really valued and they were quick to respond to any queries I asked. They were professional, efficient, helpful and really nice to deal with. We were recommended Versus through local friends that have used them previously and I would definitely recommend Versus to anyone else asking me for a recommendation.
Thanks again Natalie and Nick.
J Percy

We used Nicola Nolan for our purchase/transfer of ownership. She was excellent from start to finish. We were fully informed of the process throughout and she was always friendly, approachable and very professional at all times. Would definitely recommend her at Versus Law. Thank you again
J Guntren

Amazing law firm for conveyancing!! My wife and I made an offer on a house 24th September and we were moved in by 20th December. It should also be noted that we were selling my wife’s apartment at the same time (also using Versus), further complicating everything. Thanks to Natalie, everything was done in a very efficient manner and she was very understanding of our situation.
P Godfrey

Many thanks to Anita and all the staff at Versuslaw, they made my flight compensation claim for delay a breeze. I would highly recommend them
G Ryder

The service and advise that we received from Versuslaw was exceptional. We had numerous issues with the house that we were buying and the team at Versus law guided us through the process whilst always looking out for our best interest.They were always prompt in responding to any question that we had and would update us on a regular basis. Thanks again to Nicola, Nick and Francine
Mark

Excellent, professional and friendly work from Nick, Nicola and Natalie. They were flexible and very helpful in pushing along the sale despite several hurdles. Would definitely use again in future and would recommend others do so too
C Keen

Absolutely superb service from Nicola Nolan. Highly trust and recommend. Honest attention to detail.
V Griffith

We would like to say a big heartfelt thank you to Saqib Kazam versuslaw
Once he took our case in for Holiday compensation He kept us up to date with every thing explaining every step he took this was not an easy case but he got us an excellent result a kind polite very professional young man. Highly recommend
J Williams

From the moment we rung Versus Law and spoke to the receptionist on the phone to the moment we completed on our first home, Versus Law were excellent. Our solicitor was Tom and not only did he keep us updated every step of the way but he was very professional, efficient, offered valuable advice and made the process of buying a house stress free. We couldn’t recommend Versus Law enough and we just wanted to say a huge thank you to Tom and the team. Joe and Kara
S Foster

Sarah handled my claim quickly and efficiently. It made the whole process easy and stress free. She was very professional and kept me informed every step. I would highly recommend Versuslaw.
H Cooper

We would highly recommend Versus law, especially Nick Wintrip (selling) and Nicola Nolan (buying). They both kept us up to date throughout the whole process. They were easy to get hold of and were very prompt to answer any questions/email. We would have no hesitation in recommending Versus law for conveyancing.
I Asaf

Fantastic service, very helpful and kept me informed at every stage
M Long

From start to finish Versus Law have been professional and helpful. Tom Reid was always available to talk to us and gave us updates regularly meaning we did not have to constantly chase up matters. We are very happy by the service and would recommend to anyone looking for a reliable solicitor.
Jill T

Excellent service. I was kept informed every step of the way. Natalie Moylan and Renee Burke were a pleasure to work with. Highly professional but with a personal touch. They both went above and beyond!
Danielle

Excellent service from start to finish from Nicola and Natalie! Super responsive to emails and all my questions as a first time single buyer. Natalie and Nicola make a great team and are so approachable. Definitely recommend them for property related legal services.
Frankie

Really happy with my experience using versus law, from start to finish they put my mind at ease as I wasn’t buying a house in the normal way, it was through a family divorce and there were time scales and dead lines to meet, versus law managed to conker my mortgage and speed things up to avoid any extra costs, nicola was always there to ease my mind when I had any concerns as things do get stressful whilst purchasing a property, the ladies on the reception we also a delight and couldn’t do more to make you feel comfortable in any situation, if you are thinking of using versus law to assist you through your mortgage then look no further as these guys couldn’t have done more for me, I couldn’t have been happier with my experience
Matt W

Nicola Nolan’s conveyancing service has always been excellent, I have used them several times in the last 5 years. In particular for my business I have found their relationship and understanding of Paragon Bank to be very useful. I would highly recommend.
Kay

Excellent decision to go with Versus Law! Nick Wintrip handled the very stressful job of our house sale with professionalism, calmness and a good sense of humour. We did everything via email, phone and post, and he was always quick in responding and keeping me updated every step of the way. Very competitively priced too. I would highly recommend Versus Law without the slightest hesitation.
O Li

Thomas Reid dealt with the sale and purchase of our properties. He was a pleasure to work with – very quick to respond to queries and very efficient in his work. As a result, the process went very smoothly with minimal delays. I would highly recommend competitively priced Versus Law and especially the professionalism of Thomas Reid.
Mr RS

Natalie Moylan dealt with the sale and purchase on my behalf. The whole process was very well handled with constant updates. The first solicitors I’ve used that’s responds within to an email within an hour! Would 100% use again!!!
Mrs LC

Recently dealt with Nick Wintrip at Versus law when selling my property. Found him to be professional, quick and thorough. Process went smoothly and I was well informed throughout the process. I received regular updates and all enquiries were dealt with efficiently. Nick made the whole process of selling my home stress free and a happy one! Your the best Nick – thank you again 🙂
Will highly recommend Versus Law Solicitors. They are the best
Jaxx

Would recommend Versus Law for conveyancing; Nick and Natalie we’re our team with Nick the main contact, thank you Nick and Natalie for making the conveyancing experience as stress free as possible.
Paula

Great experience working with Versus Law. Excellent level of professionalism from Thomas Reid who provided clear, precise information. Highly recommended from my side. Thanks to Tom and the team.
D

Fantastic experience with Natalie and her colleagues. Email updates throughout the home buying process, estimates of how long it would take to get her work completed and local knowledge which speeded up the process. 100% recommended.
R Napier

Really good and really helpful got things sorted alot quicker than anticipated very cooperative
Wetherill

What an outstanding team they turned my purchase around within the set time frame and very professional at all times.
They went above and beyond reassured myself throughout the process.
As being a first time buyer I felt this was most important I would recommend them highly.
Nasir

Versus Law dealt with my house sale from start to finish in a most professional manner. A friendly, professional, competent team who get the job done within the time parameters. I highly recommend this firm.
Colin and Yvonne

Absolutely brilliant service as always.
This is the third time using Versuslaw and they never fail to impress. Natalie and Nicola are real diamonds and you really get the sense that they actually care about you.

We actually live in London, but continued to use them for our London property because of our previous experience with them.
Thank you guys, would highly recommend you to anyone.
B Man

Excellent service!!! We are really happy with the service VersusLaw provided to us. Being first time buyer, we dint have much idea about the whole process and had lots of questions. They have given proper and clear response on time to everything we have requested. For us, one of the property got cancelled in between the process because the owner decided to not to sell that property few days after accepting our offer. Though there were searches and procedures done already for that property VersusLaw did not ask Fee for that purchase as they understood the difficult situation we were in. When we found our next property, we had no doubt whom to contact. We are really happy and totally satisfied by the service Nicola, Natalie and their team offered. We will highly recommend your service to anyone,
Ross Grant

Today I have completed on the purchase of my very first apartment, and it just wouldn’t have been possible without the INCREDIBLE knowledge, guidance and GENUINE care of Nicola, Natalie, and the entire Versus Law team.

This purchase was far from straightforward, with lots of potential pitfalls – all navigated with professionalism, patience and an impeccable attention to detail by Nicola.

Nic went well above and beyond the call of duty to look into some extremely complex accounts and repair budgets to the apartment block in question – something I would have completely overlooked.

As a result, with her guidance, I managed to negotiate a £2,000 reduction in asking price – something I’m sure other solicitors would have let slip through the net.

That’s a genuine £2000 saving – a lot of money for a first-time buyer.

You get a real sense that these guys actually CARE – they make you feel more like a friend, than a client – and don’t leave a stone unturned when it comes to conveyancing. If there is anything to uncover on a property, trust me, Nicola will find it!

In essence, Versus Law made what could have been a rather stressful situation, easy and straightforward.

Communications and response times were brilliant, with daily updates coming via phone and email – and I never felt rushed by anyone when I had queries.

I honestly cannot recommend Versus Law enough.

I’m going to pick up the keys to my apartment now – and won’t be using anyone other than these guys for all future property purchases/ sales.

THANK YOU SO MUCH Versus Law – I’ll be raising a glass of champagne to you all at the housewarming! 🙂
CW

Great service provided by Nicola and her team.
Always communicating with updates for the completion of my property.
Would highly recommend
Jackie

I used Versus Law to buy my first house. Had no idea how it worked but I must say that the conveyancing team held my hand all the way through. On the day of completion there was a delay and they stayed in office late to ensure it went through so I wasn’t waiting over the weekend. It was an absolute pleasure to deal with Versus Law and I wouldn’t hesitate to recommend them. It was nice to speak to people who I felt cared for me and put my interests first at all times. Thank you so much for your help
Andy

Versus were great to deal with when they provided the conveyancing for my house purchase. I was able to complete the process without needing to physically travel to their offices and my solicitor was always available for any questions when I was completing all the paperwork. Everyone was very friendly to speak to.
T Baguley

Fantastic conveyancing service from Nicola and Natalie, they kept on top of everything from start to finish and were always available whenever we had questions. I’d be happy to recommend them to anyone.
David JC

Very impressed with every aspect of Versus Law, from service they provide to the attitude of the staff. Always called back when they said they would and had a laugh with them too. Will definately use again (if I need to).
Mrs Morris

I would recommend Versus Law to anyone, particularly Nick Wintrip, who looked after us extremely well. They are very efficient and communicated with us fully at all times. We were able to contact them by phone and e mail and did not need to rely on letter going back and forth. Nick is really friendly too and put us at ease throughout the end to end sales process. Thank you.
Tanita

Nicola and Natalie did a wonderful job. They were friendly and patient. Answered my many many questions and got the job done very efficiently. I am highly impressed and would definitely recommend them.

A Ali

R Nabi

B Keane

K Boon

M Rehman

J Nugent

Steven P

Liz

Gem

Bonnie

Daniel

M

Richard

C Savage

J Percy

J Guntren

P Godfrey

G Ryder

Mark

C Keen

V Griffith

J Williams

S Foster

H Cooper

I Asaf

M Long

Jill T

Danielle

Frankie

Matt W

Kay

O Li

Mr RS

Mrs LC

Jaxx

Paula

D

R Napier

Wetherill

Nasir

Colin and Yvonne

B Man

Ross Grant

CW

Jackie

Andy

T Baguley

David JC

Mrs Morris

Tanita

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Tips for buying commercial property

1. Conduct thorough research

2. Determine your investment budget and return goals

3. Take advantage of low interest rates

4. Get your financing in order

5. Set realistic objectives