Estimate of Freehold costs

SALE OF A FREEHOLD RESIDENTIAL PROPERTY

Our fees cover all of the work required to complete the sale of your property.

Conveyancer’s fees and disbursements

Our costs in connection

with Your Proposed Sale:`                                                             £550.00 *

VAT on the above                                                                             £110.00

Disbursements:

H.M. Land Registry fee                                                                    £3 per document (usually 3 or 4)

Bank transfer fee if there is a mortgage to repay                        £18 incl VAT

Estimated Total: £690 incl. VAT and 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.

In some cases other documents may be required to be produced such as planning documents, indemnity policies, copy NHBC and other certificates for which a fee is payable. Details of these charges will be discussed with you as and when they apply.

Some properties that are freehold may involve the payment of service charges for common areas and a Management Pack may be required. There is no standard fee for this but in our experience fees range from £0 – £500 plus VAT

How long will my house sale take?

How long it will take from your purchaser’s offer being accepted until you move out of your house will depend on a number of factors. The average process takes between 6-10 weeks.

It can for instance be quicker or slower, depending on the parties in the chain, assuming a chain exists.

Stages of the process

The precise stages involved in the sale of a residential property vary according to the circumstances. However, the following list may assist in your understanding: –

  • Take your instructions, send out initial letter and forms for you to complete
  • Receive forms back from you including I.D and payment on account to cover disbursements
  • Issue the contract pack to the Buyer’s conveyancer
  • Deal with any enquiries raised on behalf of the Buyer
  • Send final contract and transfer to you for signature
  • Exchange contracts, having agreed a date of completion of the sale with you and the Buyer
  • Obtain any redemption figure, if applicable, from your Lenders
  • Finalise the sale and account to you for any proceeds of the sale due to you

*The figure shown is in respect of properties being sold with a sale price of less then £750,000. If the sale price is between £750,000 and £1,500.000, the costs charge rises to £750 plus VAT. If the sale price exceeds £1,500.000, the costs charge rises to £950 plus VAT and may be subject to additional charges depending on the complexity of the transaction, which will be separately negotiated.

 

PURCHASE OF A FREEHOLD RESIDENTIAL PROPERTY

Our fees cover all of the work required to complete the purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property you wish to buy is in Wales.

Conveyancer’s fees and disbursements:

Our costs in connection

with Your Proposed Purchase:                                                                £575.00*

VAT on the above                                                                                       £115.00

Disbursements:

Stamp Duty                                                                                             £ see notes below

Land Registry fees                                                                                £80.00 on purchase price £40,001 to £100,000

£190 on purchase price £100,001 to £200,000

£270 on purchase price £200,001 to £500,000

(if the application can be submitted Electronically then the fee will be halved )

Local Search                                                       )

Environmental Search                                       )                                       £200.00 approx (incl VAT)

Water Authority Search                                    )

Chancel Liability Search                                  )

Land Registry search fees                                                                             £3.00

Land Charges search fee(s)                                                                           £4.00

Bank Telegraphic Transfer fee         £18 x 1                                               £18.00 incl VAT

Notes: The amount of stamp duty payable depends on the purchase price of your property, if any, and other factors including if you qualify as a first time buyer. You can calculate the amount you will need to pay by using HMRC’s website or if the property is located in Wales by using the Welsh Revenue Authority’s website here..

Estimated total – £915 excluding Land Registry /Stamp Duty Land Tax/Land Transaction Tax

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.

How long will my house purchase take?

How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 6-10 weeks. It can for instance be quicker or slower, depending on the parties in the chain, assuming a chain exists.

Stages of the process

The precise stages involved in the purchase of a residential property vary according to the circumstances. However the following list may assist in your understanding:-

  • Take instructions from you, send out initial letter and forms for you to complete
  • Receive contract documents from seller’s conveyancer
  • Carry out searches
  • Make any necessary enquiries of seller’s conveyancer
  • Report to you on all of the paperwork including mortgage papers, if applicable
  • Agree completion date (date from which you can move in to the property)
  • Exchange contracts and notify you this has happened
  • Arrange for all monies needed to be received from your Lender if appropriate and you
  • Complete purchase
  • Deal with payment of Stamp Duty Land Tax/ Land Transaction Tax
  • Deal with application for registration at H.M. Land Registry
  • Send you a copy of the title information document and any other relevant documents

*The figure shown is in respect of properties being purchased with a sale price of less than £750,000. If the purchase price is between £750,000 and £1,500.000, the costs charge rises to £750 plus VAT. If the purchase price exceeds £1,500.000, the costs charge rises to £950 plus VAT and may be subject to additional charges depending on the complexity of the transaction, which will be separately negotiated.

 

 

 

 

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