Our fees cover all of the work required to complete the sale of the property.
Our minimum fee for any transaction is £2,500 plus VAT at 20% and disbursements. For illustrative purposes only we have provided an approximate cost based on a property value of £2m.
Fees, Disbursements and VAT
| Freehold | Leasehold | |
|---|---|---|
| Legal Fees | £2,500 plus VAT at 20% | £2,950 plus VAT at 20% |
| Land Registry Searches (approximate) | £20 | £50 |
| Management Pack | N/A | £250 - £650 plus VAT at 20%* |
| Landlord’s licence to assign or deed of covenant (approximate) | N/A | £500 plus VAT at 20%* |
| Telegraphic Transfer (includes proceeds to you and to bank) | £40 plus VAT at 20%* | £40 plus VAT at 20%* |
| TOTAL (approximate including VAT at 20%) | £3,068 | £4,508– £5,018 |
Please note the following:
* Disbursements are costs related to your matter that are payable to third parties, Land Registry fees and Notice fees. We handle the payment of the disbursements on your behalf to ensure a smoother process but may require money to be paid to us in advance from you.
Included in the Costs
A broad outline of the work we undertake is as follows:
- Co-ordination of matters between you and the buyer (via the buyer’s solicitors and also selling agents);
- Preparing of a draft contract with complete sales pack included completed protocol forms and a management pack (if applicable). Dealing with all buyer’s solicitors enquiries and satisfying them on the due diligence;
- Proving title to the buyer’s solicitors;
- Dealing with replies to pre-contract enquiries;
- Exchanging contracts;
- Approving the transfer deed;
- Exchanging contracts; preparation of pre-completion documents; formal Completion; all other post completion and registration requirements in order to complete the sale; and
- Where appropriate redeeming any mortgage which may be registered against the property.
Assumptions
Please note that the fees quoted below are indicative only, and all transactions depend on their individual circumstances. The work undertaken by our firm is bespoke and usually complex, and our focus is more in providing a by-return service to our clients; building up personal connections and a long-term relationship.
The average fees below are based on transactions for a price of £2 million, which are straightforward with no onerous or unexpected complications.
Timescales
A number of factors can determine how long it will take from you accepting an offer until the sale is completed. The average process takes between 8-12 weeks. It can be quicker or slower, depending on the parties in the chain and the complexity of your sale.