Our team has many years of collective experience in providing high quality conveyancing* services. In this section, we set out details of the services that we provide, and the costs involved, relating to the sale of a freehold* residential property. By clicking on the relevant links below, you will find details of the other services that we provide, and their corresponding costs:
- Purchase of a freehold residential property
- Purchase of a leasehold property
- Sale of a leasehold property
This section includes the following:
(i) the key stages that are, or might be, involved in the sale of a freehold residential property and which we can assist you with;
(ii) an indication of who will undertake the work and our legal fees;
(iii) an indication of the cost of any disbursements*; and
(iv) an indication of the likely timescale to complete your sale.
Our fees cover all of the work required to complete the sale of your property, including:
- Taking your instructions and making contact with the estate agents and buyer’s solicitors; dealing with enquiries and communicating with all parties throughout the transaction
- Drafting a contract* and providing title* documents to the buyer’s solicitors
- Approving a transfer* transferring the property from you to the buyer
- Providing you with a Contract Report* (and contract documentation in readiness for exchange)
- Providing advice to you on all documents and information received
- Obtaining a repayment figure for any charges registered against the property
- Preparing the file for exchange of contracts*
- Agreeing completion* date
- Exchanging contracts* (and notifying you that this has happened)
- Preparing a completion statement setting out the financial information relating to your transaction and any balance due to you
- Preparing the file for completion
- Completing the sale
- Dealing with post completion requirements, e.g. repaying all charges, sending the signed transfer and deeds to the buyers solicitors, paying the estate agent
Who will undertake the work?
Most purchases will be carried out by one of our solicitors or conveyancing executives. Whoever carries out the work, they will always be supervised by one of our partners: Sally Cottam, Tim Cross, Peter Horner, Emma Warner.
Generally, our legal fees are based on the valuation of the property that you are selling. We set out in the table below, indications of our legal fees (not including VAT) based on ranges of property values.
|Purchase price (£)||Up to 200,000||200,001 - 300,000||300,001 - 400,000||400,001 - 500,000||500,001 and above|
|Legal fees (£)||750||800||850||900||0.19% of the overall price|
Our legal fees include any referral fee that is payable to your estate agent which has referred your sale to us. The referral fees that we pay range from £100 to £500. If we act for you, we will tell you the amount of the referral fee that we have paid and confirm who the recipient of that, is.
In addition to the above legal fees, we charge a fee for transferring money, electronically. Although the fee varies, it will not be more than £40.
There are many factors when selling a house (in addition to those detailed above) which we may need to help you with. If it is necessary for us to help you with any of those, additional fees will be incurred. By way of examples, those factors include where the following might apply:
- There are defects with the title requiring insurance, statutory declarations* or amendments to the title*
- You are repaying a “Help to buy” mortgage*
- There is a freehold management company* involved
- Repayment of charges registered against the property
If your matter requires additional work that is not covered by the legal fees in the table above, you will be informed of this and what the additional cost will be at the earliest opportunity. Once we know the sale price and full details of your proposed transaction, we will provide you with a full written illustration of the legal fees and anticipated third party costs. We will also confirm our fees for additional legal services related to your sale in case they arise on your transaction. The total costs of conveyancing will be made up of our legal fees, disbursements* and VAT.
There will always be costs payable to third parties as part of your sale. The following disbursements are difficult to confirm until we know more about your transaction:
• Official Copies of your title: copies of your title confirming your ownership, a plan of the property and any other title documents referred to
How long will my house sale take?
Our aim is to help our clients sell and buy their property as smoothly and as quickly as possible. We aim to get to know our clients and help them navigate their way through what can be a very stressful process.
Each transaction is unique. You and others in any chain will have different circumstances and requirements. It is, therefore, difficult to estimate how long your sale will take. However, as an indication, and based on our experience, we find the average time is 10 to 12 weeks.
It can be quicker or slower, depending on whether you are part of a chain of sellers and buyers. For example, if you are selling to a first time buyer and purchasing a vacant property, it will be quicker than a situation where there are six people in a chain. Such a chain could experience delays if, for example, one person in the chain discovers a defect in the title of the property they are buying and another is struggling to secure a mortgage.
|Completion||moving day or the day upon which your transaction completes with the balance of purchase/sale monies being paid and title to property transferred; if there is a chain involved, everybody completes and moves on the same day|
|Contract||the form of legal agreement prepared in duplicate for signature by the seller and buyer setting out all the legal rights and obligations agreed between them; this is the legally binding document between a seller and a buyer that contains all the terms of the agreement for the sale of a property|
|Contract Report||we will report to you on the terms of the contract. We will also provide documents to sign and return if you are happy to proceed|
|Conveyancing||the legal work needed to buy and sell properties|
out of pocket expenses paid by us on the client’s behalf to third parties, such as official copies of the deeds
the point that both parties are committed to the transaction; from the minute that contracts are exchanged, the sale becomes binding; until contracts are exchanged, either party can walk away from the transaction with no legal or financial penalties; at the same time as contracts are exchanged, a deposit is handed over from the buyer’s solicitors to the seller’s solicitors; the balance of the money will be handed over on the completion date, which is agreed at this time as well
|Freehold||one of the two current tenures of land recognised by English law; freehold means that you own the property outright, as opposed to leasehold, where you own the property for a specified period of time; freehold property can still, however, be subject to restrictions and covenants, for example to maintain fences, not to be a nuisance etc.|
|Freehold management company||management company formed to look after the building and communal areas|
|Help to buy mortgage||an equity loan where the government lends you up to 20% of the cost of your newly built property, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest|
|Statutory declarations||a declaration made before a justice of the peace, notary public or other person authorised to administer an oath|
|Title||the owner’s right to a property|
|Transfer||a document which transfers ownership of a property from one person to another|