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: -
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.
|£499,999 or less||£1,250 plus VAT||£1,500 plus VAT|
|£500,000 - £749,999||£1,500 plus VAT||£1,750 plus VAT|
|£750,000 - £999,999||£1,750 plus VAT||£2,000 plus VAT|
|£1,000,000 - £1,249,999||£2,000 plus VAT||£2,500 plus VAT|
|£1,250,000 - £1,499,999||£2,250 plus VAT||£2,750 plus VAT|
|£1,500,000 and over||0.175% of value plus VAT||0.2% of value plus VAT|
|Additional Fees where the building has 5 floors or more or is more than 11 metres high and the Building Safety Act 2022 applies or may apply||£300 - £500 plus VAT|
|Disbursements you can expect to pay|
|AML Searches (per person)||£9 plus VAT|
|Land Registry Fees||£6 - £20 plus VAT|
|Telegraphic Transfer Fee||£17 plus VAT|
|Landlord/Man. Co Fees (Leasehold)||£100 - £450 plus VAT|