Man Awarded Costs Against Brother in Will Dispute Case
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Continue readingThank you for looking at our property services. Whether you are a first-time seller or a property portfolio holder, we are here to take the stress out of selling a property. We will guide you through each step of the transaction and tailor our service to your personal requirements, so you get exactly the service you need.
When it comes to selling a property, there are important decisions you need to make and we are here to ensure that all your legal obligations are met and the transaction progresses smoothly. We want to assist you in selling your house quickly and efficiently, leaving you free to move on to your next property.
Why Us
We have an experienced team who understand the stresses involved in selling property. Our approach is simple – we provide a first-class service from our expert team who make the difference by taking care of all the important legal details and removing any confusion and uncertainty from the process of selling a property.
Whether you are selling your property through an estate agent or privately, we will make everything as clear as possible. Our team are made up of qualified and experienced Solicitors and Conveyancers who have the legal and technical “know how” to resolve any issues as they arise in a professional and efficient manner.
We also recognise that communication is key, especially where there are complex issues to deal with, so will ensure you are always kept up-to-date and get answers to your questions in plain English.
We want you to feel confident that you are a priority, with our aim being that a member of the team is available to speak with you when you need some clarity and certainty at any stage in the process. We feel this provides reassurance and gives you an outlet for any concerns that you may have. We know property is often the biggest investment you have, so we want to offer a reliable, first-class service to protect that investment, while giving you value for money with no hidden fees.
We are proud to hold CQS Accreditation, issued by the Law Society. This involves the firm undergoing a rigorous audit process which ensures we maintain high levels of client care.
Pricing
The fees involved in any transaction are important and we review our fees on a regular basis, considering client’s feedback to ensure we always offer good value for money. We typically work on a fixed fee basis, so that from the outset you know what the fees will be for your transaction.
If during the transaction there is a new development, we will discuss the change in fees with you and agree a way forward. This would typically occur if you changed your instructions, or your case involves an unforeseen complexity.
Our fees are set out as:
Residential Sale
Our fees cover all the work required to complete the sale of your current home.
VAT, currently 20%, will be payable on all our fees and some disbursements, and we will clearly confirm which disbursements carry VAT in our formal quotation or as we advise you to incur them.
| Item | Amount | VAT | Subtotal |
|---|---|---|---|
| Our Fees*
Up to £500,000 £500,001 – £900,000 £900,001 – £1.25 Million Over £1.25 Million |
£1600 £1850 £2100 0.1% + £850 |
£320 £370 £420 TBC |
£1920 £2220 £2520 TBC |
| Land Registry Search fees & Due Diligence | £100 | £20 | £120 |
| Electronic money transfer fee | £45 | £9 | £54 |
| Additional fee for Leasehold** | £300 | £60 | £360 |
| Redeeming charge/mortgage per charge | £150 | £30 | £180 |
The final quote will depend on the value and location of the property and the complexity of the transaction. We would warn you that there are some charges made by others which we will not be able to ascertain until we are instructed and make the necessary enquiries.
* For properties with a value in excess of £900k, our average pricing ranges from £1500 to £1750 plus VAT (£1800 – £2100 Inc. VAT) which is dependent on the final value and complexity, and we will provide a final quotation within this range when we have obtained the necessary information from you. For properties over £1.25 million, we typically charge on a percentage basis which is 0.1% of purchase price/sale price plus £500 plus VAT. All other fees will remain the same irrespective of value of property.
** Only applicable if the property is Leasehold
*** For residential property sales using a corporate vehicle (selling a residential property through a Limited company) there is a supplemental fee of £250.00 plus VAT (£300.00 Inc. VAT) plus £22.20 companies house filing fee. This is due to company’s house registration requirements and additional documents required for lending purposes.
Our average fee assumes that:
- this is a standard transaction and that no unforeseen matters arise.
- 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 any parties providing documentation.
Disbursements:
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
You will be provided with a full list of disbursements in our formal quotation. If you need to incur any further disbursements during your case, you will be notified in advance of the reason and the amount.
The following disbursements and other costs may apply in your matter.
- Mortgage legal fees on redemption £150.00 plus VAT (£180.00 Inc. VAT)
- Land Registry Priority Search fees (per title) £3.00
- Land Registry Office Copy and Title Plan (per Title) £3.00
- Land Registry fees. The following link provided details of land registry fees payable. https://www.gov.uk/guidance/hm-land-registry-registration-services-fees. We will advise the fees that are relevant to your matter when we have the details of your property.
Anticipated disbursements for a leasehold sale
| Item | Amount | VAT | Subtotal |
|---|---|---|---|
| Notice of Transfer fee, this fee if chargeable is set out in the lease. Often the fee is: between £50 to £90 + vat | £50 – £90 | £10 – £18 | £60 – £108 |
| 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 to £90 + vat | £50 – £90 | £10 – £18 | £60 – £108 |
| 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 £150 to £300 plus vat but can be more or less. | £150 to £300 plus vat | £30 -£60 | £180 – £360 |
| Certificate of Compliance fee – to be confirm upon receipt of the lease, as the range can be between £100 to £300 | £150 to £300 plus vat | £30 -£60 | £180 – £360 |
The estimated Grand Total of the transaction will be confirmed in your client care documents. These fees shown above will vary from property to property and can on occasions be more than the ranges given above. We will give you an accurate figure once we have sight of the relevant documentation.
Exclusions
We do not undertake tax advice.
Our fees are fixed, however there may be factors which would typically increase the cost of the fees estimated above. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.
Factors that may lead to an increase in cost include:
- If a legal title is defective or part of the property is unregistered
- If crucial documents, we have previously requested from you have not been provided to us
- If you require to exchange within 6 weeks of instructing us
- If you require completion within 6 weeks of instructing us
- If you require simultaneous exchange and completion
Timescales
For any transaction, the timescales are subject to change depending on when your offer is accepted and other factors involved, such as:
- Number of parties in the chain
- Whether the buyer has a mortgage in place
- Whether the buyer requests lease extension for a leasehold property
- Whether the searches flag up any issues
- Whether buyer’s Survey shows up any issues
- Buyer’s Enquiries
A typical transaction will take between 8 – 12 weeks. However, if any of the above apply or there are other factors we need to take into consideration, it may increase the time by a further 4-6 weeks and additional charges may occur. We will discuss this with you at the earliest opportunity, so you always have a clear picture of how long things are likely to take.
Key Milestones
With every transaction, there are key milestones, which may vary according to individual circumstances. They may be as follows:
- Taking your instructions and giving initial advised based on the information you have provided
- Drafting contracts of sale and any other necessary documents and reviewing these with you
- Sending the contacts of sale to the buyer’s solicitor and dealing with any enquires they have
- Providing advice on all documents and information received
- Finalising the contract and sending to you for signature
- Agreeing a completion date (the date from which the buyer will legally own the property)
- Exchanging contracts and notify you that this has happened
- Completing the sale, redeeming any mortgage on the property and sending you the net sale proceeds.