Our fees cover all the work required to complete the sale of your property. We have set out below the key stages of a standard leasehold sale.
Our approach to fees
Our fees will be determined by the value and complexity of the transaction and will also take into account any work required to deal with any unusual aspects of the sale.
We offer a standard fixed fee for our residential property transactions subject to the proviso that the transaction has no complicating factors such as lack of certification for any alterations or building works carried out, title defects that need to be reported to lenders, remedied or indemnity insurance put in place or nonstandard mortgage conditions to be complied with. Our standard fixed fees start at £950 plus VAT and disbursements and increase in line with the value of the property as detailed below.
Additional charges to cover complicated factors will be based upon the time needed to deal with them. The hourly rates charged will be dependent on the experience of the Solicitor dealing with the transaction and start at £155 plus VAT. If we need to liaise with other solicitors in other departments within the firm then their hourly rates are also set out below. We will provide you with an estimate of the total additional charges either at the outset of the transaction or when we become aware of any complicating factors.
If your sale falls through before it is completed then we will charge for the time spent to the point where the matter became aborted subject to our fees never exceeding the agreed fixed fee and charges for dealing with any complicating factors.
Hourly rates of our solicitors
If complicating factors arise then we will charge for the extra time involved. Our standard hourly rates (excluding VAT) are as follows:
All rates are subject to VAT at 20%.
Disbursements are costs relating to your matter that are payable to third parties, such as the Land Registry.
On a freehold house sale we would expect disbursements to include:
- Copies of Land Registry Title, register, plan and documents at £3 plus VAT per document obtained
- Fee for transferring any money as a same day payment, for example to redeem an existing charge or account to you for the balance: £25 plus VAT
- Identification check to satisfy money laundering requirements: £5 plus VAT per person
- Sales information pack from the landlord and/or managing agents: these fees vary depending on the provider and can range from around £100 to in excess of £500
The stages involved in the sale of a residential property vary according to each particular transaction, however, we have listed below the key stages that will be covered by our legal fee:
- Taking your instructions and providing you with initial advice;
- Obtaining title documents and prepare a Contract for Sale for submission to your buyer’s solicitors;
- Obtain a sales information pack from the landlord and/or managing agent
- Dealing with any title enquiries raised by the buyer’s solicitors;
- Obtaining a settlement figure for any charges secured against your property;
- Approving the form of Transfer supplied by the buyer’s solicitor;
- Meeting with you to obtain your signature on the Contract and Transfer document;
- Taking your instructions regarding proposed completion dates;
- Exchanging contracts to confirm the completion date and secure the sale of the Property;
- Preparing a statement of account including apportionments of ground rent and service charge due from or to the buyer at completion
- Completing the sale transaction and accounting to you and any existing lender for the sale proceeds;
- Accounting to any Estate Agents for settlement of their fees as pre-approved by you;
- Settling any outstanding ground rent or service charge with the landlord/managing agent on completion