The conveyancing process and guidance on costs when selling residential property

A guide to our standard legal fees

Conveyancing costs will always depend on the circumstances of each individual matter. Before we take your initial instruction we will provide you with a detailed estimate of costs taking into account the discrete elements of the transaction and the property involved.

Below is a guide to our fees for a straightforward standard freehold sale.   These fees are based on our standard hourly rates for the individuals who will be representing you in the sale of your property and the list of assumptions that are set out below. Our current charge out rates for residential conveyancing solicitors range from £170 – £210 per hour plus VAT charged at the usual rate:

 

Sale Price                  £600,000 to £750,000                                 £1,950 plus VAT

Sale Price                  £751,000 – £1,000,000                                £2,500 plus VAT

Sale Price                  Above £1,000,000                                        Price on application

 

Not all factors will be obvious at the outset and often come to light on further investigation of the property. Where something arises that might affect our initial estimate, we will discuss this with you at an early stage to ensure that we are not working beyond the scope of your initial instruction.

 

Assumptions:

 

– The matter is a standard transaction with no additional documents required such as     (but not limited to) a Confidentiality Agreement, Overage Agreement, or Deed of Easement;

 

– The property is being sold with vacant possession and with residential use only;

 

– There are no defects in the title to the property and there is no lack of planning, building regulation and/or listed building consents for any works that have been carried out. If any indemnity policies are required, we will obtain quotes and notify you of any additional fees at the time;

 

– The transaction is a sale of the whole of the registered title;

 

– Title to the property is registered and no application for first registration will be required;

 

– You will not require planning, tax or financial advice;

 

– All parties involved in the transaction are responsive, co-operative and the transaction proceeds in a timely manner.

 

Additional Costs:

 

In addition to our legal fees for progressing the transaction, there will be additional costs to be paid to third parties. These might include, but are not limited to, Land Registry Office Copy Documents, Telegraphic Transfer fees and postage. A guide to those costs is set out below. Please note that VAT may be payable at the usual rate:

 

Disbursement Cost (excluding VAT)
Copy title documents from the Land Registry £6.00 for copy of registered title and plan plus £3.00 per additional copy document
Telegraphic Transfer Fee £16.00
Recorded/Special Delivery Postage £5.00 – £10.00

 

As an additional service we are always happy to attend the property that you are selling to carry out a site visit. This can prove invaluable in identifying matters that may require remedying prior to completion of the sale and can save time and costs further along the transaction.

 

On receipt of your instruction we will provide you with a detailed summary setting out key information such as our cost and time estimate, details of the solicitor who will be dealing with your matter, and our understanding of the scope of your instructions.

 

Key Stages and Timescales of a Standard Property Sale

 

Below we have outlined the key stages and the average timeline of a simple property sale. The timeline can be shorter or longer depending on the bespoke elements of the transaction but the average timescale is between 4 and 12 weeks.

 

Action Average Timeline
Take your instructions, carry out anti-money laundering checks and provide you with out a Letter of Engagement, Terms of Business and Summary of Instruction Week 1
Reply to standard enquiries of the buyer in relation to the property, fixtures and fittings and provide title information documents. Weeks 2 – 3

 

Reply to any additional enquiries of the seller Weeks 3 – 4 depending on the level of enquiries and what action is required.
Draft, negotiate and settle the terms of the sale contract and property transfer Weeks 2 – 4
Deal with exchange of contracts Weeks 5 – 6 depending on how quickly the buyer is able to progress
Deal with completion of the purchase Weeks 6 – 8 depending on how quickly the parties are able to proceed to completion
Provide all original signed documents to the buyer’s solicitor for registration of the property transfer to the buyer at the Land Registry   As soon as possible following completion

 

How your transaction will be managed and what to do if you have concerns

 

Our residential team compromises of Tamsin Mann as Senior Associate, Anna Bevan as Property Legal Assistant and Louis Mathers as Consultant. Your transaction will be managed by Tamsin who will be your main point of contact throughout and assisted by Anna. You will be given their mobile telephone number, direct dial and email address.

 

Every transaction is supervised by a Partner in the Firm who will be responsible for ensuring that your matter is dealt with in line with regulatory requirements, whilst ensuring that you experience the best client care.

 

We pride ourselves on the fact that we don’t just provide a high level of service but we are able to build close professional relationships with our clients. We encourage feedback from our clients and strive to maintain a working relationship where clients are able to share and comment on any improvements that they think we can make. If you have any concerns or comments regarding the services being provided or the costs incurred, please see our Complaints Procedure.