SALE OF A FREEHOLD RESIDENTIAL PROPERTY

 

All fees and disbursements will incur VAT at 20%.

Our fees cover all of the work* required to complete the sale of your home including the repayment of any Mortgage.

Conveyancer’s Fees and Disbursements.

Our legal fees depend on the value of the property you are selling. Our minimum fee is £550.00. Our average fee for the Sale of a Residential Freehold Property is £750.00.

The Land Registry charge fees for producing Official Copy Entries of the Title to your property and any documents referred to on that Title. The minimum Land Registry fees payable are £6.00 for each Title and Plan with additional copy documents payable at £3.00 each.

Electronic Money Transfer Fee is £10.00.

* Our fee assumes that:-

(a) 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.
(b) The transaction is concluded in a timely manner and no unforeseen complications arise.
(c) All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.
(d) No Indemnity Insurance Policies are required. Additional disbursements may apply if Indemnity Insurance Policies are required.
(e) You have, in your possession, all necessary documentation e.g. Planning Permissions, Section 106 Planning Agreements, Building Regulations Completion Certificates and Building Regulations Compliance Certificates.

Should any of the above apply, please refer to our Additional Legal Services Fee List

Disbursements

Disbursements are costs related to your Sale 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 Sale take?

How long it will take from your acceptance of the Buyers Offer until you complete the Sale will depend on a number of factors. The average process takes between 6 – 12 weeks. It can be quicker or slower depending on the number of properties in the chain. For example, if you are selling to a Buyer who does not require a Mortgage to finance the Purchase, the Sale could proceed fairly quickly. However, if you are selling to a Buyer who themselves have property to sell, who in turn, is selling to a Buyer who has other property to sell, the length of time it takes to complete your Sale may be influenced by and, as a consequence, increased by the length of time it takes for those parties to deal with those transactions.

Stages of the Process

The precise stages involved in the Sale of a Residential Property vary according to the circumstances. However, we set out below some of the Key Stages that are involved in the work which we shall undertake for you:-

Take your instructions and provide you with Initial Advice.

Receive your Title Documents and any other Documents relating to the property.

Request your completion to Property Information Forms.

Preparation of the draft Contract of Sale and submission of the Contract Package to the Buyers Conveyancer.

Obtain your signature to the approved form of Contract of Sale.

Approval of the Land Registry Transfer Deed and obtaining your signature to the same.

Agree a Completion Date (a date upon which the sale price is received to complete the Sale and possession is given to the Buyer).

Exchange Contracts and notify you this has happened.

Request and obtain a Redemption Statement from your Mortgage Lender.

Obtain your Estate Agent’s Commission Account and seek your approval to settle the same on your behalf.

Complete the Sale.

Repay your Mortgage and account to you for the net proceeds of sale.

If you wish to speak to a member of our residential conveyancing team for advice and assistance concerning your proposed sale or for a no obligation quote, please do contact us –

Newquay Office
Doug Sidebottom – djs@ralphlaw.co.uk – t. 01637 872218