Sale Of A Leasehold Residential Property
Our fees cover all of the work required to complete the sale of your property, including dealing with the redemption of any mortgages or charges registered against the property, liaising with estate agents and sending out any monies due to you as quickly as possible.
|Sale Price||Our Fees||VAT||Total|
|Up to £100,000||£695.00||£139.00||£834.00|
|£100,001 to £150,000||£795.00||£159.00||£954.00|
|£150,001 to £200,000||£895.00||£179.00||£1,074.00|
|£200,001 to £250,000||£995.00||£199.00||£1,194.00|
|£250,001 to £300,000||£1,095.00||£219.00||£1,314.00|
|£300,001 to £350,000||£1,195.00||£239.00||£1,434.00|
|£350,001 to £400,000||£1,295.00||£259.00||£1,554.00|
|£400,001 to £450,000||£1,395.00||£279.00||£1,674.00|
|£450,001 to £500,000||£1,495.00||£299.00||£1,794.00|
|£500,001 and above||£200 0.3%+|
Our fee assumes that:
a. This is a standard transaction and that no unforeseen matters arise.
b. The transaction is concluded in a timely manner and no unforeseen complication arise
c. All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
d. No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
In addition to our fees you will also incur costs related to your matter that are payable to third parties, known as disbursements. We handle the payment of the disbursements on your behalf to ensure a smoother process. Details of the disbursements you are likely to incur are detailed below and include VAT where applicable.
HM Land Registry Searches £ 7.20
In addition to the disbursements detailed above, you may also have to pay:
- Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50.00 and £240.00.
- Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50.00 and £240.00.
- Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often the fee is between £50.00 and £240.00.
- Certificate of Compliance fee – To be confirmed upon receipt of the lease and can range between £50 and £240.
We will redeem your existing mortgage by CHAPS and you will be charged £35.00 plus VAT (£42.00) for the payment.
We will pay the estates agents for you and there is no charge for this.
The amount you need to pay the estate agents could depend on a number of factors but is usually based on the sale price and tends to be agreed before you instruct us.
Net Sale Proceeds
Your net sale proceeds are usually sent to you on the day of completion. If you choose to have your monies sent by CHAPS rather than by BACS you will be charged £35.00 plus VAT (£42.00) for the payment.
How Long Will Your Sale Take?
How long it will take from accepting an offer until completion will depend on a number of factors. The average process takes between 10 to 14 weeks but it can be quicker or slower, depending on the other parties and if there is a chain.
What Are The Different Stages Of Your Sale?
The precise stages involved in the sale of a residential property vary according to the circumstances. However, examples of key stages that we will help you through may include:
- Take your instructions and confirm by letter setting out the terms of business
- Carry out proof of identity checks
- Ask to you to complete a property information form and a fixtures and contents form
- Obtain title deeds or official copies of the title register from HM Land Registry
- Prepare draft contract and send to the buyers’ solicitor
- Reply to pre-contract enquiries
- Agree completion date (date from which you own the property)
- Exchange contracts and notify you that this has happened
- Complete sale
- Deal with redemption of mortgage
- Deal with paying the estate agents
- Transfer net sale proceeds to you
Who Will Handle Your Sale?
Anyone in our Conveyancing department could handle your sale. To view the qualifications and experience of the team, please click here.
Ian Groome will be the Director with overall supervision of your sale.
What If You Get A Problem?
Should you have a problem that cannot be resolved between you and the person handling your sale, please refer to our Complaints Procedure.