Sale of Freehold Residential
There are certain categories of residential property work which we do not undertake (see below).
The provision of this outline is for guidance purposes and our ability to act for you will be subject to our requirements as to terms and conditions, identification, source of funds and any related requirements being satisfied.
We have 2 members of the team who may work on your matter and collectively they have over 60 years of experience in delivering high quality work.
The team are:
Rupert Morton-Curtis - Solicitor
Clare Dove - Solicitor
Should your matter/transaction not reach its conclusion, we reserve the right to charge for the work done.
Our fees are designed to cover all work required to complete the sale subject to the qualifications mentioned below, since all transactions are not standard.
Our fees* and disbursements:
- Legal fees from £1,250.00 plus VAT.(We do not operate a scale fee).
- Fee for bank transfer: £35.00 plus VAT for each transfer required.(one assumed)
- Fee per anti-money laundering search per client involved: £5.00 plus VAT. (two assumed)
- VAT payable: £259.00 estimated assuming two sellers.
Estimated total: £1,554.00 (inc VAT in this example)
There may be circumstances where additional work is required of us which we could not have anticipated at the outset and, if those arise, we will advise of the position, any estimate and if further fees are payable.
- Statutory declaration (to inform something about a property e.g. access that may be clarified). Fees can be from £100.00 plus VAT.
- Liaising with conveyancers acting for any lender(s) who are not also appointing us to redeem any existing mortgage(s) you have. Fees can be from £100.00 plus VAT.
Fees do vary and can be higher or lower depending on the exact circumstances.
- Office Copy Entries from HM Land Registry £3.00 for the Title and £3.00 for the plan (If there are other documents on the title these are charged at £3.00 per document per title).
Stages of the process
These are the key stages of the process:
- take your instructions and give you initial advice;
- obtain title details and documents;
- prepare and advise on contract documents;
- respond to any permitted enquiries raised by the buyer’s conveyancers;
- send final contract to you for signature;
- agree to exchange date and deposit amount;
- agree completion date (date from which you cease to own the property);
- obtain redemption figure from your lender (if you have a mortgage)
- exchange contracts and notify you that this has happened;
- complete sale;
- pay sale invoices related to your matter;
- repay any existing mortgage(s);
- transfer any sale proceeds to you/your bank.
How long will my house sale take?
How long it will take from your accepting an offer until the date of completion will depend on a number of factors. The average process takes between 6-12 weeks.It can be quicker or slower, depending on the parties in the chain.
*Our fee assumes that:
- 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;
- the transaction is concluded in a timely manner and no unforeseen complications arise;
- all parties to the transaction are co-operative and there is no unreasonable delay from the parties providing documentation.
Work type we do not undertake
We are not able to act on sales involving:
- Shared ownership transactions.
- Back to back/sub-sale transactions.
- Transactions to be structured as a Stamp Duty Land Tax or Transaction Land Tax Scheme.