We offer two levels of support for clients - a Grant only service and a full estate administration service.
If you choose to instruct us, we will issue a Letter of Engagement which will set out our range of costs that we believe we could incur when dealing with the estate. When an unforeseen complexity arises or where the way in which you ask us to proceed means additional work, we will inform you of this and provide revised costs information.
Buying or selling your home can be daunting task. We are here to guide you through what can sometimes be a complex legal process, to ensure that it is as painless a process as possible.
We will understand your needs and provide a clear costs estimate for you. We will confirm at the outset what is and is not included in the fee we have quoted to you. If we are unable provide you with a fixed fee for the transaction, then we will give you a clear estimate of how much time it is likely to take and the estimated costs.
Below we provide answers to some commonly asked questions.
How much will it cost?
Our costs will depend on the price of the property in question and other considerations. Therefore, it is always best to contact us on 01628 301221 and discuss your requirements. We will take detailed instructions from you to understand your personal situation, the nature of the transaction and your objectives. Once confirmed, we will provide an accurate quotation in writing. Your transaction will be handled by an experienced Solicitor.
Not all circumstances surrounding the sale or purchase of a property are the same. There is generally more work to undertake on a purchase, so therefore they tend to cost more.
As an example of the likely costs involve and the work required, we consider an example transaction for the sale of a freehold residential property for £750,000. Our fees cover all the legal work required to complete the sale of a property. In the example, we have assumed that it is a standard transaction and that no unforeseen matters arise, for example, a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction. We have also assumed all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation. In this example, our typical fees and disbursements would be:
• Legal fees: £1,500• Transfer of Completion Monies: £30.00• VAT
As a further example, we consider a more complicated transaction, the purchase of Grade II listed country house that was part of a larger parcel of unregistered land, that requires rights over the seller’s retained land and at price of £3,000,000, with the assistance of a mortgage from a high street bank or building society.
In this example, our typical fees and disbursements would be would be:
● Legal fees: £6,000• Search fees with the local authority and water authority, environmental and chancel repair searches – on average £400 -£500. (This cost may vary depending on where the property is located.) • Stamp Duty Land Tax – dependent on HMRC rates – see here the Stamp Duty Land Tax calculator• Land Registry fee – £455 -£910 dependant on the type of application and current Land Registry rates - see here for the Land Registry rates● VAT
How long will the transaction take?
In our experience, most conveyancing transactions can be ready to exchange within four-six weeks, but a great deal depends on the issues that may arise and the other parties involved.
We will however work to any reasonable timeframe you set if the circumstances of your transaction require. We aim to exceed expectations on timing.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances of the purchase. However, we have suggested some key stages you may wish to take into consideration:
● Take your instructions and give you initial advice● Check finances are in place to fund purchase and contact the lender’s solicitors if needed● Receive and advise on the contract documents● Carry out searches● Obtain further planning documentation if required● Make any necessary enquiries of seller’s solicitor● Give you advice on all documents and information received● Go through the conditions of mortgage offer with you● Send the final contract to you for signature● Agree the completion date (date from which you own the property)● Exchange contracts and notify you that this has happened● Arrange for all monies needed to be received from lender and you● Complete the purchase● Deal with payment of Stamp Duty/Land Tax● Deal with the application for registration at Land Registry
The precise stages involved in the sale of a residential property vary according to the circumstances of the sale. However, we have suggested some key stages you may wish to take into consideration:
● Take your instructions and give you initial advice● Obtain the title documents and prepare the draft contract● Receive and advise on any enquiries raised by the purchaser's solicitor● Obtain further documentation if required● Make any necessary enquiries of the purchaser’s solicitor● Make the preliminary arrangements to pay off any mortgage(s)● Send the final contract to you for signature● Agree the completion date (the date from which you own the property)● Exchange contracts and notify you that this has happened● Complete the sale● Deal with the discharges of any mortgage(s)● Send you the sale proceeds
Additional work may be required on both a sale or purchase, for example if there is a defective title or problems with planning consents.
We will keep you updated as to the stage you are at within the transaction and ensure that you are well-informed as we reach a key stage in the transaction.