Sale Of Property - Clear Pricing

What is involved?

All the work required to complete the sale of your home, including dealing with redemption of any existing Mortgage on the property, and the repayment of your estate agent fees as applicable.

Timescale

The average process takes between 8-12 weeks to reach completion. It can be quicker or slower, depending on the parties in the chain. For example, if you are selling a leasehold property, or a freehold property which has a management company attached, it could take 12-16 weeks to complete, on the basis of a third party needing to be contacted to reply to enquiries and supply a management pack. However, if you are selling a leasehold property that requires an extension of the lease, this can also take significantly longer, between 3-5 months, and your fee would increase to reflect the sale and extension taking place simultaneously. In such, a situational additional charge may apply.

How much does this service cost?

The price will depend upon the level of experience of the relevant fee earner, the price the property is being sold for, the capacity of the fee earner and the complexity of the transaction, but our fees typically start from:
Legal fees £750.00* + VAT at 20% on legal fees (£150.00)
SUBTOTAL = £900.00

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*Please note that there are variations to these matters. Further fees can be charged where you are instead selling a Leasehold property, a Shared Ownership property, or redeeming multiple mortgages, for example, where you have a Mortgage and Help to Buy Mortgage on the property.

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. On a residential freehold sale, the standard disbursements would be as indicated below. Please keep in mind that, as with the legal fees, the disbursements will vary depending on the type of matter.

Disbursements

Land charges search £2.00 per person
Electronic ID check £15.00 per person + VAT at 20% per person (£3.00) per person
Bank transfer fee £35.00 + VAT at 20% per transfer (£7.00) per transfer.

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:

• Take your instructions and give you initial advice
• Check finances are in place to fund purchase and contact lender's solicitors if needed
• Receive and advise on contract documents
• Carry out searches
• Obtain further planning documentation if required
• Make any necessary enquiries of seller's solicitor
• Give you advice on all documents and information received
• Go through conditions of mortgage offer with you
• Send final contract to you for signature
• Agree completion date (date from which you own the property)
• Exchange contracts and notify you that this has happened
• Arrange for all monies needed to be received from lender and you
• Complete purchase
• Deal with payment of Stamp Duty/Land Tax
• Deal with application for registration at Land Registry

If you would like further information or to discuss your legal needs, please do not hesitate to get in touch. Our team is here to help; please select 'Meet the Team' for information on the team who will be carrying out the work.