Sale of a freehold residential property
Conveyancer’s fees and disbursements*
|Legal fee||£400.00 – £750.00 plus VAT **|
|Postage Telephone and Fax Admin Fee||£20 plus VAT|
|AML ID Check||£10 plus VAT (per person)|
|Electronic money transfer fee||£30 plus VAT|
|Office Copy Documents||£6 (per title plus £3 per additional document)|
|VAT payable||£92 – £162|
|Estimated Total||£558 – £978|
** Up to a sale price of £700,000. If your sale price is over this please contact us.
What are disbursements?
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
How long will my house sale take?
How long it will take from you accepting an offer until completion of your sale will depend on a number of factors. The average process takes between 8-10 weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if your buyer is a first time buyer, with a mortgage in principle, it could take 6 weeks. However, if they have a property to sell as well as purchasing yours and are in a chain it can take significantly longer
What is included within the fee?
- Taking your instructions
- Verifying your identity
- Giving you initial advice
- Obtaining Title documentation
- Providing Property Information Forms for your completion
- Drafting Contract
- Dealing with any enquiries raised by the buyer’s solicitor
- Giving you advice on all documents and information received
- Approving draft transfer
- Sending final contract to you for signature
- Agreeing completion date
- Obtaining a redemption statement from your lender if you have a mortgage
- Exchanging contracts and notifying you that this has happened
- Completing sale
- Paying estate agents and redeeming mortgage and account to you for net sale proceeds
Sale of a leasehold residential property
In the event that the property you are selling is leasehold the above costs and disbursements still apply, however an additional legal fee of £100 plus VAT will be charged increasing the Estimated Total by £120.
Disbursements are costs related to your matter that are payable to third parties. We handle the payment of the disbursements on your behalf to ensure a smoother process. There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease.
Anticipated additional disbursements on the sale of a leasehold property:
- Management Re-Sale pack Fee – £150- £350. The precise stages involved in the sale of a residential leasehold property vary according to the circumstances, but generally, in addition to the above stages of the process we will review the lease, obtain replies to enquiries from the Freeholder/ Management Company and deal with any additional leasehold enquiries that may be raised.
How long will my house sale take?
How long it will take from you accepting an offer until completion of your sale will depend on a number of factors. The average process takes between 8-12weeks. It can be quicker or slower, depending on the parties in the chain. For example, if you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 4 months. In such, a situation additional charges would apply.
*Our fee 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
- if the property is leasehold, it 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 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.
- the property is not a New Build
- the property is registered at the land registry
- the property is not a shared ownership
- There is only one mortgage/charge secured against the property
- You do not have an Equity Mortgage on the Property.