Average Fee for Residential Property Sales

How our charges are calculated

Our fees are based on the hourly rate of £350 per hour and the work will be handled by a qualified solicitor, who is both experienced and especially practised in conveyancing matters. Or by a trainee solicitor under the supervision of a qualified solicitor. However, our fees are calculated assuming that:

• 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:
• the transaction is concluded in a timely manner and no unforeseen complication arise
• all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
• no indemnity policies are required. Additional disbursements may apply if indemnity policies
  are required.

Additional fees:

Conveyancer’s fees –

Legal fee up to 0.5% of the value of the transaction plus VAT and where your matter is a special case there will be an additional charge (see below)

You may incur an additional charge where your matter falls into the following special cases:

• Contract races
• New builds
• Synchronised chains
• Auctions

Please note this list is not exhaustive. Please contact us with your circumstances for more information.

Disbursements –

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the initial payment of the disbursements on your behalf to ensure a smoother process. Examples of typical disbursements and their estimated costs are:

Land Registry Documents – £3.00 per document ( + VAT)

Estate agent’s fees – typically are 1-3% of the value of the transaction

General –

Our fees to not include obtaining Licences (for example a Licence to Assign) and disbursement fees can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.

The Process:

The precise stages involved in the sale of a residential freehold property vary according to the circumstances but generally include the following:

• Taking your instructions and giving you initial advice
• Prepare the draft contract pack and all associated documents
• Reply to enquiries raised by the buyer’s solicitor
• Send final contract to you for signature
• Send the transfer to you for signature
• Agree completion date (date from which you own the property)
• Exchange contracts and notify you that this has happened
• Complete sale
• Redeem any mortgages and account to you with the balance sale proceeds
• Pay any estate agents fees

How long the transaction will take:

How long it will take to complete the sale of your property will depend on a number of factors. The process could take up to 6 months, and for more complex matters, for instance where the sale is dependant on a Grant of Probate it could take up to 9months/ a year.