Our fees cover all of the work* required to complete the sale of your home including redeeming any outstanding mortgages.
We have a range of fees ranging between £650 plus VAT and £1,500 plus VAT depending on the price of your home, the experience and seniority of the fee earner and whether the property is freehold or leasehold.
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. The likely disbursement would be as follows:
Office Copy and plan – £6
Office Copy and plan – £6
Leasehold copy – £11
Management Information Pack – the figure would need to be obtained from the Management Company and can be £300 or more.
We will make the following additional charges:
· £35 plus VAT for each bank transfer by CHAPS
· £15 plus VAT for each AML check
*Our fee assumes that:
a. 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
b. for leasehold sales – this is the assignment of an existing lease and is not the grant of a new lease
c. the transaction is concluded in a timely manner and no unforeseen complications arise
d. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
e. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
If any other work is required to ensure a successful conclusion to the transaction, we reserve the right to charge an additional fee based upon the additional time spent at the
rate of between £200 plus VAT and £300 plus VAT per hour but we will advise you of the anticipated time frame and the likely cost prior to carrying out the extra work.
Likely timescale in completing your sale
How long it will take from you accepting an offer until you can move will depend on a number of factors. The average process takes between 12-18 weeks. It can be quicker or slower, depending on the parties in the chain. For example, if your purchasers are cash buyers, it could take 8 weeks. However, if you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, e.g. between 3 and 6 months. In such a situation, additional charges would apply.
Stages of the process
The precise stages involved in the sale of a residential property vary according to the circumstances. However, below are examples of the key stages involved in the sale of a freehold and leasehold property:
• Provide you with documentation to complete about the property and fixtures and fittings
• Obtain title deeds and any other documents to prepare a draft contract
• If applicable, obtain a settlement figure to repay the outstanding amount on any existing mortgage
• Send a contract pack to the Buyer’s solicitor
• The Buyer’s solicitor will check the draft contract and raise enquiries with us
• We will answer the enquiries together with you
• Agree a completion date (date from which you no longer own the property and move out)
• The Buyer’s solicitors will confirm that they are satisfied with their search results and answers to their enquires
• Exchange contracts and notify you that this has happened
• The Buyer’s solicitors will draft and send a transfer deed to us which we will check and send to you to sign in preparation for completion
• The Buyer’s solicitor will then send the proceeds of the sale to us and you will need to arrange for the keys to be released to the Buyer
• We will send the Buyer’s solicitor the title deeds and transfer deed
• We will pay the estate agent, repay the amount owing to your mortgage lender and transfer our fees
• The remaining funds will then be transferred to you
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