Residential Conveyancing

Costs and Expenses

Sales and Purchases

Before taking your instructions, we will discuss the transaction with you to ascertain the complexity of the matter and let you have a written quotation setting out our fees and the costs of known disbursements.

As a guide, our conveyancing fees range between £850.00 and £1,750.00 plus VAT but our average fee is nearer the lower end of the range.

In addition, there are a number of other expenses which have to be paid to third parties to enable us to progress your transaction.  These charges are also be paid by you.

The other usual expenses are:

On a sale:

Office Copy Land Registry Entries £3.00 per title 

Office Copy Land Registry File Plan £3.00 per title 

Office Copy Land Registry Filed Documents £3.00 per document 

Bank Telegraphic Transfer Fee £30.00 plus VAT each

On a purchase:

Bank Telegraphic Transfer Fees £30.00 plus VAT each

Stamp Duty Land Tax Dependant on property price

(see link to HMRC calculator)

Land Registry Fee Dependant on  property price

(see link to Land Registry calculator)

Local Authority Search Dependant on Local Authority  - Estimate £175.00

Drainage Search Estimate £70.00 

Environmental Search Estimate £70.00

Bankruptcy Search £2.00 per name

Land Registry Search £3.00 per title number

Landlord's Registration Fees (Leasehold Properties)

Dependant on terms of the Lease - Estimate £50.00 to £100.00 plus VAT

Share Certificate Issue Fee (Leasehold Properties)

Dependant om Management Company - Estimate £50.00 - £100.00 plus VAT

Deed of Covenant Fee (Leasehold Properties)

Dependant on terms of the Lease - Estimate £250.00 - £350.00 plus VAT 

If we find that additional expenses are likely to be incurred after we have received the details of the title from the Land Registry we shall let you have details. If, for any reason the transaction is aborted we will let you have details of any costs incurred.

Our fixed price will be calculated on the basis that:- 

  • if the property is freehold it is held under a single freehold title at the Land Registry with no title defects
  • if the property is leasehold it is held under a single leasehold title at the Land Registry with no title defects
  • one contract is submitted to one purchaser
  • the sale will be on the basis of an unconditional contract and the property is sold with vacant possession
  • completion takes place on the date agreed in the contract

If it becomes apparent that there are unforeseen circumstances in connection with the sale we may have to increase our charges, but if that is the case, we shall inform you before we incur any additional costs.

 On a Sale the work consists of the following: 

  • obtaining details of the title to the property from the Land Registry or, if the property is unregistered, from the title deeds;
  • drafting and negotiating a sale Contract;
  • negotiating a Transfer Deed;
  • dealing with additional enquiries raised by the buyer's solicitors;
  • meeting with you to go through the terms of the Contract and financial details relating to the sale;
  • proceeding to exchange of Contracts and then completion of the sale;
  • preparing a completion statement setting out the financial details relating to the sale
  • dealing with the transmission of funds on completion, redemption of the mortgage and payment of your Estate Agents (if any) and accounting to you for any proceeds of sale;
  • dealing with the redemption of the mortgage on completion (if applicable) and the submission of evidence of discharge of the mortgage to the buyers solicitors.

 On a Purchase the work consists of the following: 

  • investigating the title to the property, to include:
  • carrying out searches with respect to title and local government information for the property
  • reviewing replies given by the seller to pre-contract enquiries
  • negotiating a purchase contract
  • negotiating a transfer document
  • advising you in respect of your mortgage offer (if applicable)
  • meeting with you and reporting to you on the title and other information provided by the sellers
  • proceeding to exchange of contracts and then completion of the purchase
  • transferring funds by telegraphic transfer to the seller's solicitors and for relevant taxes
  • calculating stamp duty land tax (SDLT) on the purchase and preparing and submitting to HM Revenue & Customs the appropriate SDLT forms
  • registering the purchase and the mortgage (if applicable) at the Land Registry
  • on a leasehold property giving notice of change of ownership and mortgage to the Landlord and obtaining Share Certificate in the Management Company.

 

Costs, Fees, Disbursements and Estimates correct as at 23rd January 2019

For a full up to date quotation contact us at conveyancing@smithgadd.co.uk 
or by phone on 01403 271222