Sale of a residential property (Freehold & Leasehold)
Our fees cover all of the work required to complete the sale of your property.
1. Our Legal Fee
For a fully itemised quotation please visit our online calculator.
The fixed fee includes all of the normal legal work involved in a standard conveyancing transaction, such as:
- Checking the title to your property
- Bankruptcy Searches
- Dealing with the enquiries from the buyers solicitor
- Redeeming any mortgages
One electronic bank transfer. All of our legal fees include a single electronic bank transfer which is sufficient for most standard purchases and sales, if additional transfers are require (where sale monies are to be divided between multiple parties for example) we make a charge of £30 + VAT (£36) to cover each additional transfer.
Disbursements are costs relating to your matter that are payable to third parties and there will not usually be any on a house sale as they tend to be the responsibility of the purchaser. We handle the payment of the disbursements on your behalf to ensure a smoother process.
There may be certain disbursements which may be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and on review of the lease.
- Management company information- the fee if chargeable will be for production of a pack containing information on ground rent, service charge and any other relevant information. Often the fee is between £50-£300 (exc VAT),
- Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50-£250 (exc VAT).
- Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is £50-£150 (exc VAT).
- Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £50-£250 (exc VAT).
- Certificate of Compliance fee - To be confirmed upon receipt of the lease, as can range between £50-£250 (exc VAT).
Indemnity Policy Premium
You may require an insurance indemnity to cover a risk that has been identified with the property. There will be a premium payable. If the buyer does not accept responsibility for payment, these premiums vary according to the type of risk being insured. We will advise you separately of the cost.
These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.
3. Supplemental Fees
The range of legal fees in section 1 are based on a standard freehold property transaction and in some instances there will be a supplemental fee(s) to carry out additional works. These may include one or more of the following:
Grant of a new Lease
If the title to the property you are selling is the grant of a new lease rather than the assignment of an existing lease, we make a charge to cover the additional work involved. We can give you an accurate figure once we have spoken with you about your specific requirements.
Leasehold House £50 + VAT (£60.00)
If the property you are selling is leasehold, we make a charge to cover the additional communications between the landlord, their agent, any management company or their respective agents and to deal with any requirements of the lease.
Leasehold Apartment/Flat £200 + VAT (£240.00)
If you are selling is a leasehold apartment/flat as part of a housing complex, we make a charge to cover the additional communications between the landlord, their agent, any management company or their respective agents and to deal with any requirements of the lease.
Unregistered Title £50 + VAT (£60.00)
All properties now have to be registered with the Government Land Registry in England and Wales when they are bought and sold. If the property you are selling has not yet been registered, and ownership must be proved by Title Deeds we make a charge to cover the additional work involved.
Shared Ownership £500 + VAT (£600.00)
If the property you are selling is held under a Shared Ownership Scheme, we make a charge to cover the additional communications between the Housing Association and their solicitor.
Help to Buy Scheme £200 +VAT (£240.00)
Where there is an existing or proposed loan under the Government Help to Buy Scheme we make an additional charge to deal with the Help to Buy agency.
Help to Buy ISA £50 + VAT (£60.00)
Where there is an existing or proposed Help to Buy ISA we make an additional charge to deal with the Help to Buy agency.
Declaration of Trust £150 +VAT (£180.00)
Where you require us to deal with any bespoke arrangement you have to deal with and protect your share in a property we make an additional charge to prepare, complete and deal with the Government Land Register and the documentation. You should note there may be an additional Land Registry registration fee (see section 2).
Insurance Indemnity Policy £25 + VAT (£30.00)
If a policy is required we make a charge for obtaining and advising on the policy in addition to the disbursement cost of the premium (see section 2).
4. Our Legal Fees for other Types of Sale
The range of legal fees in section 1 is based on a standard freehold property transaction and in some instances there will be a different fee based on the particular type of sale you are making. Examples are:
Selling at auction.
We charge an additional £100 +VAT (£120) to prepare the auction legal pack. There will also be a charge of £225 for the searches which need to be included in the legal pack.
Hs2 Compulsory Purchase Order.
We charge a fixed fee of £500 +VAT (£600) when you are selling under such an Order.
Probate house sale.
These will be based on the standard fee scale in section 1. We can arrange valuations and organise the Grant of Probate.
5. Example of a Typical Freehold Sale at £170,000
Our legal fee £600
Total cost £720
6. Referral fees
In some instances referral fees may be paid to third parties, such as estate agents, for the introduction of your business. These range from £50-£150. This is not an additional cost to yourself and will not affect the price quoted to you.
Our standard legal fees assumes that:
- 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.
- The transaction is concluded in a timely manner and no unforeseen complication arise.
- All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.
8. How long will my house sale take?
A house sale theoretically can be quicker than a purchase because there are no searches involved, however, if your house sale is part of chain then we would suggest an average of 8-12 weeks.
It can be quicker or slower, depending on the type of transaction and the parties in the chain.
9. Stages of the process
The precise stages involved in the sale of a residential property vary according to the circumstances. Our comprehensive web page outlines the key stages that are involved. https://www.bannerjones.co.uk/for-you-your-family/services/residential-property/selling
10. Our Teams
Our conveyancers work in teams of 2 or 3 to ensure that there will always be someone available to deal with your matter. The teams are led by experienced conveyancers to help ensure that no stone is left unturned when it comes to your property sale.
Richard Joy, Director heads up the team in Chesterfield.
Mark Bilton, Executive Director heads up the team in Mansfield.
Kate Skelton, Director heads up the team in Sheffield.
Al of the other team members have detailed profiles which can be found here https://www.bannerjones.co.uk/team-members