Residential Property Services & Fees (Sale)

HOW LONG WILL MY HOUSE SALE TAKE?

 

The length of time it takes from an offer being accepted to the sale of your house will depend on a number of factors, such as whether the buyer requires a mortgage, whether you are in a chain, the position of the buyer and other parties in a chain.  On average, the process takes between 8 to 10 weeks. 

 

The process can be quicker or slower depending on the parties in the chain.  For example, if there is no chain and the buyer does not require a mortgage, the process can be quicker and could potentially be completed in between 4 – 6 weeks.  If the buyer, or anyone else in the chain, needs to organise a mortgage, is in rented accommodation where notice is required, or is purchasing a new build property, or needs to obtain a grant of probate for a sale the process could take longer.  There can also be other circumstances that could potentially lead to delays, for example if there are any defects in title or defects in the lease that need to be rectified.  We will advise you of any circumstances that are likely to lead to any delays during the process.

 

The Stages in the Process

 

The key stages in the process are as follows: -

  • Receiving your instructions
  • Receiving Memorandum of Sale from the estate agents and contacting the buyer’s solicitors to confirm instructions
  • Sending Property Information Forms to you to complete
  • Where applicable, contacting the Landlord and Managing Agents and applying for the Landlord/Managing Agents sales pack.
  • Sending draft contract, title documents and property information to the buyer’s solicitors
  • Dealing with any additional enquiries raised by the purchaser’s solicitors
  • Exchanging contracts
  • Prepare for completion, including approving the Transfer Deed and ordering redemption statements
  • Completion (usually 1 to 2 weeks from the date of exchange)
  • Dealing with any post-completion formalities.

 

FEES AND DISBURSEMENTS

 

The fees that we will charge and the disbursements you are likely to incur are set out below.  Disbursements are costs related to your matter that are payable to third parties. 

 

Type of Work                                                                                               Our Fees*

Sale of Freehold Property (£500,000 or less)                                           £575 plus VAT

Sale of Freehold Property (more than £500,000)                                    £675 plus VAT

Sale of Leasehold Property (£500,000 or less)                                         £675 plus VAT

Sale of Leasehold Property (more than £500,000)                                  £775 plus VAT

 

Disbursements you can expect to pay:

Land Registry Fees                                                                                      £6 - £20

AML Search fees                                                                                          £7.80 per person

Telegraphic Transfer Fees                                                                          £17 per TT

Leasehold Properties - Landlord/Management Company Fees             £0 - £450

 

 

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Regulated by the Solicitors Regulation Authority | SRA No.450213