Our costs for acting on a residential conveyancing matter are fixed fee, and depend on the value of the property:
For properties up to £1 million:
£1,800 plus VAT and disbursements for acting on the sale
£2,500 plus VAT and disbursements for acting on the purchase
For properties over £1 million:
£3,000 plus VAT and disbursements for acting on the sale
£4,500 plus VAT for acting on the purchase.
Disbursements will vary from transaction to transaction, but generally include: Land Registry fees (up to £900 in total); search fees (approximately £500 plus VAT); bank charges (approximately £20-40); and if buying a property, Stamp Duty Land Tax (anywhere between 0-12% of purchase price, depending on the value of the property you are purchasing, and your status).
The service included in the price is:
Carrying out our client identification checks
If purchasing, then upon receipt of the Sales Memorandum, contacting the Seller’s solicitors requesting a draft Sale and Purchase Contract; if selling, prepare these documents on your behalf
If purchasing, obtain the appropriate conveyancing searches
Negotiate the form of the contract or if appropriate the form of the lease, with the other party’s solicitor
Advise you on surveys and valuations of the property
If purchasing, check with you that your financing is in place before exchange of contracts
Report to you on the contract and title
If all in order, attend to exchange of contracts
Attend to pre-completion searches and raise any requisitions on title
Attend to the form of Transfer
If purchasing, advise you again, in advance of completion, the amount required to complete and attend to the receipt of the funds
Attend to completion
If purchasing, prepare the land transaction return for you to sign, and pay any stamp duty land tax that is due, provided you have paid the same to us
Apply for registration of the Transfer or new lease at the Land Registry
We would expect any sale or purchase to take place within 3-4 months of you first retaining us, although any time frames will be dependent on the complexity of the matter and any difficulties encountered along the way. Generally, completion will take place 28 days after exchange of contracts.
The person dealing with your matter would be Stephen Carter who has in excess of 30 years’ experience in conveyancing.