Our fees: Sale of a freehold/leasehold residential property

Please note our fees are subject to VAT, this tax is set by the UK government and is currently 20%.

Sale of a freehold residential property

Our fixed fees cover all of the work* outlined in the ‘stages of the process’ text below, these steps are what is required to complete the sale of your home, including dealing with registration at the Land Registry, your estate agents and buyer’s solicitors.

Our fixed fees for a freehold property are based on the price or value of the property as set out in the table below:

Example

To sell your property for £150,000 our fees would be £1000 excluding VAT.

Sale of a leasehold residential property

Our fixed fees for a leasehold property are based on the price or value of the property as set out in the table below:

Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as the Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply (depending on the type of property or where it is situated e.g. if the property is in Darras Hall a pack will need to be obtained from the Darras Hall Committee detailing further information about the property, or a pre-sales management pack will need to be obtained from the Freeholder if you are selling a leasehold property subject to service charges and ground rent).

Sometimes we may pay a referral fee on your behalf. We will always inform you in writing what this fee is. A typical fee is £120.

Additional disbursements may include:

Shared ownership charge of £300 excluding VAT.

Acting in a sale and redeeming HTB loan £250 excluding VAT.

ID verification and document fee – £20.00 per name on mortgage/title of property.

Example

To sell a freehold property at £150,000 the following will apply (including no referral fees):

How long will my house sale take?

How long it will take from accepting your offer until you can complete the sale will depend on a number of factors. The average process takes between 12-16 weeks.

It can be quicker or slower, depending on the parties in the chain and the complexity of the work involved. For example, if you are selling to a first time buyer and you are not buying a new house 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 2 and 6 months. In such, additional charges would apply which could include the Lease premium to be charged by the Landlord and additional legal fees in connection with the additional work we would be required to carry out on your behalf.

Stages of the selling process

The precise stages involved in the sale of a residential property vary according to the circumstances and include the following:

• Taking your instructions and giving you initial advice
• Obtaining deeds and land registry documents
• Reviewing Property Information forms and information received from you
• Drafting contract documents
• Replying to buyers enquiries and seeking further planning documentation if required
• Giving you advice on all documents and information received
• Sending the final contract to you for signature
• Agreeing a completion date
• Exchanging contracts and notifying you that this has happened
• Completing the sale
• Apportioning ground rent and service charge if leasehold
• Repaying any mortgage
• Accounting to you for funds

 * Assumptions:

1. 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
2. if leasehold that this is the assignment of an existing lease and is not the grant of a new lease
3. the transaction is concluded in a timely manner and no unforeseen complication arise
4. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
5. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

Extra fees (not included in the above quote) may be added if any of the following apply to your case

• first registration of title
• whether a mortgage is an Islamic mortgage
• multiple owners
• shared ownership scheme
• electronic money transfer fee

Property work will be undertaken by our property team displayed below, all team members are supervised by Anne Austin.