Selling a Property
We are accredited with the Conveyancing Quality Scheme provided by The Law Society.
The Sale Process
The exact stages involved in the sale of a residential property will vary according to the circumstances. However, the key stages we will need to carry out for your sale are:
- Take your instructions and give you initial advice
- Deal with Anti-Money Laundering requirements and Identity checks
- Obtain copies of your title and check for any restrictions on the sale
- Obtain an indicative Mortgage Redemption Statement
- Draft and prepare Contract papers for the Buyer’s solicitor
- Receive and reply to any Enquiries raised by the Buyer’s solicitor (and advise you and take instructions from you accordingly)
- Send final Contract and Transfer Deed to you for signature
- Agree the sale Completion Date with you and the Buyer
- Exchange contracts and notify you that this has happened
- Apply for final Mortgage Redemption Statement
- Obtain estate agents’ Commission Account
- Complete the sale of the property
- Redeem any mortgage on the property
- Settle the estate agents’ Commission Account
- Account to you for the net sale proceeds
At the outset of the transaction, we will provide our best estimate of the likely legal costs, government taxes and other disbursements which are likely to arise. Please note these may vary if the matter becomes protracted or where complications arise. If this happens, we will discuss with you the impact of this upon your legal costs.
The following is a guide only to likely fees:
Sale Legal Charges
Below £200,000.00 – upon application £200,000.00 to £500,000.00 – from £1,095.00
£500,001.00 to £1,000,000.00 – from £1,295.00
Above £1,000,000.00 – upon application
Redemption of Mortgage – £250.00 per mortgage
AML and Identity check – £40.00 per person
Processing fee for Bank Transfer – £40.00 per transfer
Lawyer Checker – £45.00
In addition, if the property is unregistered land, leasehold, shared ownership or a company purchase there will be additional supplements to cover the additional work involved. We will quote these at the outset and, once instructed, will also supply a copy of our charges for Additional Legal Services in case any of these should arise during the course of the transaction.
VAT currently at 20% is payable upon all our fees and charges
Disbursements are costs related to your transaction that are payable to third parties. We handle these payments on your behalf. Those such as Leasehold fees paid to managing agents will vary depending upon the requirements of the particular managing agents. All of these will be estimated to you once the circumstances are known.
There are also likely to be the following disbursements:
Land Registry Title Entries – £3.00 plus VAT per item
Non-Standard Transactions or Disbursements
These will need to be quoted individually and may not follow the above estimates.