Sale of a Freehold or Leasehold Residential Property
Updated: May 2021
Our fees below cover the standard work required to complete the sale of a property.
|Sale price||Our fee||Total inclusive of VAT|
|£40,000 – £80,000||£650.00||£780.00|
|£80,001 – £100,000||£675.00||£810.00|
|£100,001 – £150,000||£700.00||£840.00|
|£150,001 – £200,000||£725.00||£870.00|
|£200,001 – £250,000||£750.00||£900.00|
|£250,001 – £300,000||£800.00||£960.00|
|£300,001 – £400,000||£850.00||£1,020.00|
|£400,001 – £500,000||£900.00||£1,080.00|
|£500,001 – £600,000||£950.00||£1,140.00|
|£700,001 – £800,000||£1,050.00||£1,260.00|
|£800,001 – £900,000||£1,150.00||£1,380.00|
|£900,001 – £1 million||£1,250.00||£1,500.00|
|£1 million – £2 million||0.195% of property price|
|£2 million upwards||On enquiry|
The following additional charges may apply:
|Our additional fee||Total inclusive of VAT|
|Client/third party identification (per person)||£4.00||£4.80|
|Bank transfers (TT and same day faster payments)||£25.00 or £5.00 respectively||£30.00 or £6.00 respectively|
|Arranging a bespoke indemnity insurance policy||£50.00||£60.00|
|Dealing with a delayed completion||£150.00||£180.00|
This is not an exhaustive list and we would advise you if any further issues arise for which we will be charging an additional cost.
In addition to the above, certain additional charges (formerly known as disbursements) are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of such additional charges on your behalf to ensure a smoother process. These include:
|Disbursements||Cost (inclusive of any VAT)|
|Land Registry official copies (per copy)||£7.20|
|Land Registry document (per copy)||£3.60|
|Land Registry index map search||£4.80|
|Land Charges search (per person)||£2.40|
This is not an exhaustive list and we would advise you, if any further issues arise for which we will incur further additional charges, including, for example, indemnity policies.
How long will my property sale take?
How long it will take from your acceptance of an offer until your sale is completed will depend on a number of factors. The average process takes between six and eight weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if there is a first-time buyer, purchasing a new-build property with a mortgage, higher up the chain, in principle, it could take 12 weeks. However, if you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, between 12 and 16 weeks. In such a situation, additional charges apply.
Stages of the residential property sales process
The stages involved in the sale of a residential property vary according to the circumstances. However, the key steps usually include:
- preparing and advising on contract documentation;
- obtaining further planning and/or building regulations documentation, if required;
- responding to any enquiries of the buyer’s solicitors;
- obtaining management pack(s) in leasehold transactions;
- giving advice on all legal documentation;
- sending the final contract and transfer deed to you for signature;
- agreeing a completion date (i.e. the date from which you will no longer own the property);
- exchanging contracts and notifying you that this has happened;
- obtaining a redemption statement from the lender, if applicable;
- completing the sale;
- redeeming any mortgage(s);
- paying your estate agents’ commission; and
- transferring the net proceeds of sale to you.