We would estimate our fee on sale to be 0.15% plus VAT of the sale price with a minimum fee of £1,250 plus VAT. VAT would be charged at current rate plus disbursements.
We also charge for remitting funds by telegraphic transfer at £50 plus VAT for each transfer.
Disbursements are costs related to your matter that are payable to third parties, such as search fees and land registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Office copy entries and title documents from the Land Registry from £3.90 inc VAT per document.
Additional Legal Services
The above is based on a standard freehold sale, if you are selling a leasehold property there will be an additional fee of between £150 - £250 plus VAT payable to us.
There will also be additional fees payable to your managing agent/landlord for providing replies to management enquiries. We will advise you of these as soon as we have this information but they are usually in the region of £200 - £400 plus VAT
If the transaction involves other aspects of additional legal work to undertake further fees may be payable. We will advise you of any additional fees as soon as we are able.
How long will my sale take?
How long it will take from you accepting an offer until the sale of your house is completed will depend on a number of factors. The average process takes between 6 to 8 weeks to exchange of contracts, with completion usually taking place 2 weeks after exchange. However, it can be quicker or slower, depending on the parties in the chain. If you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 and 6 months. Again this will be dependent on other variable factors of such a transaction. In such, a situation additional charges would apply.
The precise stages involved in the sale of a residential property vary according to the circumstances. However, below we mention below some key stages which are usually required on a normal sale transaction:
Take your instructions and give you initial advice
Preparing and sending out contract documents
Taking your instructions on and responding to enquiries raised by the seller's solicitor
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
Send transfer to you for signature
Obtain final redemption statements from your mortgage lender (if any)
Deal with redemption of mortgage
Whilst every effort has been made to ensure the above fees are accurate we reserve the right to raise further charges if the complexity or amount of work involved exceeds levels anticipated at the outset. Please note that the cost of disbursements are subject to any increases (which are out of our control) which may be imposed by third party suppliers, or if some of the information on which our quotation is based proves later to be incorrect. In some cases your buyer may require you to provide Indemnity Insurance and we will advise you of the cost of the policy if applicable. Our fees are applicable only to property situated in England and Wales.