Our Fees: Property Sale

(Freehold & Leasehold)

Our fees cover all of the work required to complete the sale of your property, including redemption of any mortgage and payment of the Estate Agents fee (if any).

Our Fees

The table below sets out an estimate of our fees based on the average UK house price (£291,385).

fee quote

You can also use our fee quote tool by clicking here to obtain an estimated total cost of the transaction.  VAT will be charged on our fees at the prevailing rate, currently 20%.

Discounts

We are pleased to offer discounted rates for members of the emergency services (Blue Light Legal) and to members of the Bakers Food and Allied Workers Union and Community Union.

Leasehold Properties

If your Property is leasehold, we will need to obtain from the Freeholder and/or Management Company their Sales pack which is required by the Buyer’s Solicitors in order to investigate title to the Property on their client’s behalf. The cost of each respective Sales Pack varies between different Freeholders and Management Companies however, can on average be £300.00 – £500.00 although can on occasion be significantly more or less. We shall advise you of this cost upon receiving confirmation from the Freeholder and/or Management Company at which point you will be asked to make payment to us on account of the same so we can request the pack.

Disbursements

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.  Details of anticipated disbursements are set out in the table above.  Whilst we have tried to include as many fees and disbursements as possible, please contact us with the details of your transaction so we may provide a bespoke quote specific for your circumstances.

How long will my house sale take?

The length of time it will take from your acceptance of the Buyer’s offer until completion of the sale will depend on a number of factors. The average process takes between 10-12 weeks.

It can be shorter or longer, depending on factors such as, but by no means exclusively, the number of parties in the chain and their respective circumstances, if the property is Leasehold or require a lease extension, there be a title defect, mortgage funding, surveys, searches, new builds. We shall endeavour to keep you apprised during the process.

Key stages of the process

Whilst the precise stages involved in a sale transaction can vary accordingly to the circumstances of each transaction, the key stages of the process are as follows (please note the weekly timeline is a guide only):

Instructions (Weeks 1- 3)

• We receive your instructions to act on your behalf;
• Our Client Care Pack is sent out to you, explaining our Costs and Terms of Business, for you to consider, sign and return along with initial monies on account;
• We forward to you Seller’s Protocol Forms to complete, sign and return;
• We obtain from you your proof of identity as part of our anti-money laundering checks;
• We carry out conflict of interest checks against all parties to the transaction;
• We receive Sales Particulars from the Estate Agents (if involved) and confirm to the Buyer’s Solicitors that we act for you.

Deduction of Title (4-8 weeks)

• We obtain evidence of your ownership of the Property from Land Registry (or the Deeds holder if unregistered property);
• We prepare the Contract Pack and issue to the Buyer’s Solicitors;
• If Leasehold, we take steps to request the Sales Pack/s from the Freeholder and/or Management Company and forward to the Buyer’s Solicitor once received;
• We request an initial redemption statement from your mortgage Lender (if any);
• The Buyer’s Solicitors raises enquiries (if any) after their consideration of the Contract Pack.
• The Buyer’s Solicitors requests searches (raising additional enquiries upon receipt of the results) and obtains the Buyer’s mortgage offer;
• We liaise with you to satisfy the purchaser’s enquiries raised (if any).
• We forward to you the approved Contract and Transfer Deed for signature;

Pre-Exchange – Exchange of Contracts (Week2 9-10)

• We agree with the Buyer’s Solicitors a Completion Date (date when the property is legally transferred to the Buyer);
• We obtain a final redemption statement from your mortgage Lender and Invoice of fees from your Estate Agents (if any);
• We provide you with our Completion Statement detailing the amount due back to or due from you to complete the transaction.
• After obtaining your Authority to Exchange, we exchange Contracts with the Buyer’s Solicitors (legally binding both Buyer and Seller to the Contract and to complete on the agreed Completion Day) and notify you that this has happened.

Post-Exchange – Completion (Weeks 10-11)

• Replies to the Buyer’s Completion Information is sent to the Buyer’s Solicitors;
• On Completion Day, we receive the sale monies from the Buyer’s Solicitors to complete and confirm to them accordingly;
• Keys are handed over to the purchaser via the Estate Agents (if any) or as per alternative arrangements;
• We redeem your mortgage, pay the Estate Agents (if any) and any sums owing to the Freeholder/Management Company (if Leasehold);
• The net proceeds of sale are sent to you (or any related transaction) after deduction of mortgage, Estate Agents fees, legal fees and disbursements.

Post-Completion (Week 12)

• We await confirmation from your mortgage lender of redemption of their mortgage (if any).

Our Team

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