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Sale of a residential property (Freehold)

William Bailey Solicitors have secured accreditation to the Law Society’s Conveyancing Quality Scheme (CQS) which is the mark of conveyancing excellence for the home buying and selling process.

Our aim is always to provide a high-quality personal service to our clients.

Our fee on the sale of a freehold property covers all of the work required to complete the sale.

Our fee will depend on the type and value of property being sold. Therefore, once you have placed your property on the market or accepted an offer from a buyer then please telephone our office supplying full details of the property in question and we will provide a full breakdown of all the legal fees and expenses involved in your transaction thus allowing you to budget to the very last penny from the very beginning of the transaction.

Please note that we do offer a service whereby you are able to attend our office to discuss our fees and expenses payable in relation to your particular transaction. This is a free service, and should you wish to take advantage of this service then please contact our office and we will make the necessary arrangements.

Conveyancer’s fees and disbursements

  • Legal fee from £1,100 plus VAT*
  • Electronic money transfer fee £14.40 including VAT

Land Registry fees £3 – £50

*VAT payable at the prevailing rate

Disbursements are costs related to your transaction that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. On the sale of a freehold property disbursements are usually limited to Land Registry fees for providing copies of the register of title, title plan and other documents held by the Land Registry. If it becomes apparent that other third part fees may be incurred, then we will let you know as soon as possible.

 

Our Legal fee assumes that:

  1. 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.
  2. The transaction is concluded in a timely manner and no unforeseen complications arise
  3. All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  4. No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
  5. The lease is acceptable to the buyer’s solicitor in its’ current form.

 

How long will my property sale take?

This will depend on a number of factors. The average process takes between 8 to 12 weeks. It can be quicker or slower, depending on the parties in the chain. For example, if you are selling to a first-time buyer, it could take 8 weeks. However, if you are selling a property in a long chain this can take longer. Further, if the term of your lease needs to be extended, then the process could be delayed for 2 to 3 months.

Provided the circumstances allow William Bailey Solicitors can tailor make the service to suit your particular circumstances.

 

Stages of the Process

  • Take your instructions and give you initial advice.
  • Obtain title documentation from the Land Registry
  • Send Law Society protocol documentation to you for completion and return
  • Draft contract documents and send to buyer’s solicitor
  • Deal with enquiries raised by the buyer’s solicitor and the approval of the contract
  • Arrange for you to sign the contract
  • Approve Transfer and arrange for you to sign this
  • Agree completion date
  • Exchange contracts and notify you that this has happened
  • Complete sale
  • Deal with redemption of any mortgage, payment of estate agent’s fees and forward net proceeds to you

 

We hope the above is clear. We do encourage contact between ourselves and our clients and therefore if you have any questions or queries regarding any of the above information then please telephone our office on 0208 693 9615 and we shall be only too pleased to assist.