Conveyancing fees example – Sale of a Freehold House

Conveyancing fees example – Sale of a Freehold House

Our fees* cover all of the standard work required to complete the sale of this property.

Conveyancers Fees and Disbursements

Sale of a Freehold House at a Sale Price of £100,000

Legal Fee

£425.00 Plus VAT £85.00

Disbursements

Land Registry Office Copies & Plan £6.00

Professional Charges

Bank Transfer Fee £30.00 plus VAT £6.00

Estimated Total £552.00

Additional Costs

Please refer to the section headed ‘Additional Costs’ for circumstances in which we may need to charge additional fees.

* Our fee assumes that:

1. this is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
2. the transaction is concluded in a timely manner and no unforeseen complication arise
3. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
4. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

Disbursements

Disbursements are payments to third parties and organisations such as Land Registry fees.  The costs estimate sets out the current cost of expected disbursements but they are subject to variation, and the final bill of costs will include the actual expenditure incurred. We handle the payment of the disbursements on your behalf to ensure a smoother process. It is sometimes necessary to make additional disbursements either in respect of documents not within the deeds, particular problems or because of delays. In such cases additional fees will be payable.

How long does it take to buy and sell a house?

We aim to complete a straight forward sale and/or purchase transaction in 6-8 weeks. If there is no chain involved that time scale may be less. If there is a long chain this time scale will be extended. If there is a defect in the title then the time scale may be further extended whilst we find a possible solution.

Stages of the Process

The precise stages involved in the sale of a residential property vary according to the circumstances. The key stages include the following:

1. Your Quote – Based on the details you provide we will generate your tailored conveyancing quote for this sale and send you our client care pack with a number of forms for you to complete.
2. The Contract Pack – We will prepare your draft contract pack to send to the buyer’s solicitors. This includes the forms you would have completed as well as the deeds to the property.
3. Enquiries – The buyer’s solicitors will send us their enquiries after reviewing the contract pack we provided. At this stage we will ask you for your help in answering these enquiries.
4. Replies to Enquiries – When we have collected our replies to the enquiries raised in the previous step we will send our replies to the buyer’s solicitors.
5. Signing the Paperwork – You will sign all the required paperwork for the sale to proceed, including the contract and transfer deed.
6. Redemption Figure – The necessary redemption figures from your existing mortgage provider will be obtained so we can repay them the correct amount upon completion to redeem your mortgage.
7. Exchange of Contracts- We can exchange contracts when the buyer’s solicitors have completed their processes and a mortgage offer is in place. You and the buyer are now committed to the sale.
8. Completion – On the agreed date, the buyer’s solicitor will send us the purchase payment. We then repay your mortgage and the estate agent’s invoice. You will receive the net sales proceeds and release the keys.
9. Post Completion – Your Lender will remove the charge electronically at HM Land Registry. The Buyers Solicitors will register the transfer of ownership at HM Land Registry.