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Residential Conveyancing Pricing

SALE OF A FREEHOLD RESIDENTIAL PROPERTY

Subject to what is stated at the end of this example***, our fees cover all the work required to complete the sale of your home. This will include: preparing a contract pack and deducing title to the buyers’ solicitors, dealing with the redemption of your mortgage (if your property is subject to one), replying to any additional enquiries raised and liaising with your buyer’s solicitors to negotiate the contract and transfer in order to complete the sale of your property.

Conveyancer’s fees and disbursements:

Your bill from us will state our fees, third-party disbursements and VAT if payable. (These latter are costs related to your matter, payable to third parties e.g. Land Registry fees. We handle the payment of the disbursements on your behalf, making a smooth process.)

Fees and disbursements will include the following:

  • Legal fee £900 to £1,700 (depending on value of property)
  • Up-to-date Copy Title £6
  • Electronic money transfer fee £30
  • VAT of 20% where applicable

Estimate of fees and disbursements (ex VAT): See worked example below

Worked Example 3. Basic Freehold Sale for a property with a sale price of £500,000 with a mortgage to redeem – Fees, Disbursements and VAT will include the following:

VAT
WD: Legal fee £995.00 £199.00
Official Copy Entries of registered title and plan £6.00 £1.20
Electronic money transfer fee £30.00 £6.00
Sub-totals £1,031.00 £206.20

Estimate for total of fees and disbursements (inc VAT): £1,237.20

Note: There may be additional costs in respect of obtaining documents from the Land Registry such as old Conveyance or second title but this will not be ascertainable until we see a copy of your title from the Land Registry.

How long will my house sale take?

How long it takes from acceptance of your buyer’s offer until you can move out of your house depends on numerous factors – but the average process takes between 8 and 12 weeks. It can be quicker or slower, depending on the parties in the chain.

Stages of the process

The precise stages in a residential sale vary according to circumstances.

However, we set out below some key stages in our conveyancing work:

  • Take your instructions and give you initial advice
  • Comply with Anti Money Laundering requirements
  • Provide paperwork to complete in relation to the property being sold including a fixtures and fittings list and a seller’s property information form to provide detail to any future purchaser
  • Obtain copy title from the Land Registry
  • Provide draft contract pack to purchaser
  • Receive and reply to any additional enquiries received from purchaser
  • Obtain redemption figure if property charged with a mortgage
  • Give general advice on the progress of the transaction
  • Approve transfer
  • Agree completion date
  • Exchange contracts and notify you that this has happened
  • Submit invoice and financial statement
  • Complete sale and arrange for monies to be paid to a lender to pay off any mortgage and the balance provided to whoever you instruct us to send it
  • Advise you when the sale is completed and that you need to move out and leave keys with the estate agent

*** Our fee, referred to above, assumes that:

  • This is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
  • The transaction is concluded in a timely manner and no unforeseen complication arise
  • All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  • No indemnity policies are required; additional disbursements may apply if indemnity policies are required.


SALE OF A LEASEHOLD RESIDENTIAL PROPERTY

Subject to what is stated at the end of this example***, our fees cover all the work required to complete the sale of your home. This will include: preparing a contract pack and deducing title to the buyers’ solicitors, dealing with the redemption of your mortgage (if your property is subject to one); liaising with your buyer’s solicitors to negotiate the contract and transfer in order to complete the sale of your property; liaising with the management company for service charge and ground rent information, etc. and obtaining any necessary information from your Landlord or the management company to facilitate the sale and reply to all buyers’ enquiries raised.

Conveyancer’s fees and disbursements:

Your bill from us will state our fees, third-party disbursements and VAT if payable. (These latter are costs related to your matter, payable to third parties e.g. fees charged by your Landlord or management company for information about your property. We handle the payment of the disbursements on your behalf, making a smooth process.)

Fees and disbursements will include the following:

  • Legal fee £900 to £1,700 (depending on value of property)
  • Copy freehold and leasehold Titles and copy Lease from the Land Registry £15
  • Electronic money transfer fee £30
  • VAT of 20% where applicable

Worked Example 4.Basic Leasehold Sale for a property with a sale price of £300,000 with a mortgage to redeem – Fees, Disbursements and VAT will include the following:

VAT
WD: Legal fee £995.00 £199.00
Official Copy Entries of registered freehold and leasehold titles, plans and copy lease £15.00 £3.60
Electronic money transfer fee to redeem mortgage £30.00 £6.00
Sub-totals £1,040.00 £208.60

Estimate for total of fees and disbursements (inc VAT): £1,248.60

On a leasehold sale, various items of information need to be provided to the buyer. This includes details of any ground rent and service charge payable – and proof of up-to-date payment of ground rent and service charge must be supplied. Most buyers’ solicitors require this information to come direct from the Landlord or management company and we will request this on your behalf. It is important to note that the Landlord or management company will make a charge for providing this information and that charge can range from £25 to £300.

How long will my house purchase take?

How long it takes from acceptance of your offer until you can move in to your house depends on numerous factors – but the average process takes between 8 and 12 weeks.

It can be quicker or slower, depending on the parties in the chain. However, if the leasehold property you are selling requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such a situation, additional fees and other charges would apply.

Stages of the process

The precise stages in a residential leasehold sale vary according to circumstances. However, below we set out some key stages in our conveyancing work:

  • Take your instructions and give you initial advice
  • Comply with Anti Money Laundering regulations
  • Receive memorandum of sale from estate agents
  • Get up-to-date copy title from the Land Registry
  • Provide appropriate enquiries for you to complete to enable us to provide information with the draft contract to your buyer’s solicitor; the forms will include a fixtures and fittings list, a seller’s property information form and a leasehold information form
  • Issue draft contract pack to the buyer’s solicitor, together with a copy of your title
  • Receive any enquiries raised by your buyer’s solicitor and reply to same
  • Contact the management company to obtain up-to-date information regarding ground rent and service charge
  • Send final contract to you for signature
  • Agree a completion date
  • Exchange contracts
  • Draft transfer and organise signature of this document by you
  • Submit our invoice and financial statement to you
  • Complete sale
  • Arrange for any mortgage secured against the property to be redeemed and for any balance monies to be forwarded to you

*** Our fee, referred to above, assumes that:

  • This is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
  • This is the assignment of an existing lease and is not the grant of a new lease
  • The transaction is concluded in a timely manner and no unforeseen complications arise
  • All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  • No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.