RESIDENTIAL CONVEYANCING FEE STRUCTURE FOR SELLING A PROPERTY

Our fees cover all of the work required to complete a sale of your home including drafting the contract, dealing with enquiries, redeeming a mortgage, dealing with estate agents.

How long will my house sale take?

How long it will take from you accepting an offer until the sale completes 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 you are selling to a first-time buyer with a mortgage in principle then it could take 8 weeks. However, if the person buying your property also has a property to sell and there are numerous parties below them all with properties to sell, this can take significantly longer, between 12 – 16 weeks. The chain will only move as quick as the slowest person in it.

Stages of the process

The precise stages involved in the sale of a residential property vary according to the circumstances. However, below we have listed the key stages:-

• Take your instructions and give you initial advice
• Send out our client care pack to you with initial protocol forms for you to complete and return.
• Obtain title information documents from the land registry.
• Prepare and submit contracts to the buyer’s solicitors.
• Deal with any enquiries raised by the buyer’s solicitors .
• Discuss with you any enquiries raised and obtain further documentation from you should this be required, such as planning documents, ground rent information, service charge information and management packs if you are selling an apartment or a property on an estate where there is a management company.
• Obtain a redemption figure from your current lender.
• Send final contract out to you for signature.
• Agree a completion date.
• Exchange contracts and notify you this has happened.
• Prepare an invoice and completion statement.
• Receive monies on the day of completion, discharge any mortgage and pay any estate agents fees on your behalf.

Estimated Costs

We have prepared a table (see below) of the estimated costs of a sale of both leasehold and freehold property, there are additional fees for selling an apartment and you will also have to pay for a management pack. The cost of this varies between management companies and you would have to enquire of your management company to ascertain this fee.

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 disbursement on your behalf to ensure a smoother process. The disbursements quoted are on the basis that only one will be required, if more than one document needs to be obtained from the land registry these will incur additional costs.

Our fee assumes that:

1. 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.
2. There is only one mortgage to redeem.
3. The transaction is concluded in a timely manner and no unforeseen complications arise
4. All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
5. No indemnity policies are required. Additional disbursements will apply if indemnity policies are required.
6. You do not require assistance in a different language (for example, Polish or Russian).

For properties priced at £1,000,000.00 or more we charge at a charging rate of £150-180 plus VAT (depending on the fee earner handling your case) plus disbursements.