RESIDENTIAL SALE (FREEHOLD): OUR LEGAL COSTS: ILLUSTRATIVE EXAMPLE
We are now able to offer our clients NO MOVE NO FEE TERMS. If your transaction does not proceed for any reason you will only pay for the expenses e.g. search fees, Land Registry fees we have already paid on your behalf.
For a standard residential freehold sale transaction our time charges would be in the range of £695.00 + VAT to £1,245.00 + VAT*.
No property is the same, and our charges will reflect the particular requirements of your sale, including variation depending on the value of the property and the complexity of the transaction.
Because of this, when you first contact us we will ask you for some information about the transaction.
Once you have supplied us with these details, we will email you with a full, detailed, transparent, ‘no hidden charges’ written costs quotation, almost always that same day.
If you engage us on the transaction, our Cashiers will need you to post initial funding of £265.00 at the outset of the transaction, to cover initial third-party expenses that we will need to incur on your behalf. This will be set against the final amount of our invoice to you at completion of the sale, or the remaining balance of it (after meeting expenses incurred) returned to you if the transaction were to fall through.
Below is an indication of our fees on a straightforward freehold sale at £150,000:
|Office supplies charges (copying, printing, other incidentals||£83.40||£16.68|
|Our same day bank-to-bank transfer charge x 1||£35.00||£7.00|
|Land Registry Official Copy Documents||£12.00||£0.00|
Total + VAT
|Total including VAT||£988.08|
* Our standard time charge includes correspondence between you and us and a reasonable (but not excessive) number of telephone calls, emails and consultations in order for us to liaise with you throughout the transaction(s). If matters prove more complex, more time-consuming or more protracted than originally anticipated (for example involving in our view a non-standard volume of emails or telephone calls), then it may be necessary for us to review the time charge upwards proportionately. The charge for incidental office supplies (e.g. postages, copying, printing, telephones) would also need to be increased if large amount of paperwork were to require copying or we were to have to send faxed correspondence or print emails to a greater degree than would be usual or if printing, or if the time taken in telephone calls, were to be higher than would be usual. But we would advise you of any such additional charge beforehand.
Please note if the property is leasehold, you may be required to pay certain other 3rd party expenses to any superior landlords and/or to their solicitors or managing agents or management companies such as a management pack fee/leasehold information pack. These “3rd party expenses” cannot be known to us at the time of costs quotation.
Generally, though, ask us for a quotation and we will email you a comprehensive pack of explanatory material and the costs numbers.