Cost Information: Freehold Sale

 

Sale of a freehold residential property

 

Our fees cover all of the work required to complete the sale of your property, including dealing with redemption of any existing mortgage and dealing with enquiries raised

We will provide you with a quotation based on the particular circumstances of your purchase and our fees will take into account any unusual or complex matters that are likely to be encountered.

 

By way of example, for the sale of a freehold property valued at £250,000 with a registered title our fees would be £750 plus VAT of 20%

 

Disbursements

• Land Registry fee - £15.00 approximately
• Electronic money transfer - £34.80 (if required)
• BACS fee for payment of agents account - £15.00

 

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.

 

If we are required to send funds by BACS/Bank Transfer, an administrative fee may have to be charged.

 

Disbursements may be chargeable for VAT at 20%.

How long will my house sale take?

The average process takes between 8-12 weeks.

 

It can be quicker or slower, depending on the number of parties in the chain. For example, if you are selling to a first time buyer, with a mortgage in principle, and your property is empty 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, between 3 and 4 months. In such, a situation additional charges would apply.

Stages of the process

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

 

• Taking your instructions and giving you initial advice
• Preparing and submitting contract documents
• Dealing with enquiries received from the buyer's solicitor
• Sending final contract to you for signature
• Agreeing a completion date (the date from which you no longer own the property)
• Exchanging contracts and notifying you that this has happened
• Completing the sale
• Dealing with payment of the agents fees if so instructed
• Dealing with the mortgage redemption

 

* 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      this is not a sale at auction
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.

 

Any additional work will either be carried out at an additional fixed fee or at an hourly charging rate of £95 plus Vat.

 

We will be happy to discuss our fees and your particular requirements in more detail with you before you make a decision whether or not to instruct us.