Raworths LLP
Our Charges – Sale of a Residential Property Our Charges – Sale of a Residential Property

Our Charges – Sale of a Residential Property

Business

We act for businesses as well as the people who create, own and invest in them, building long term relationships with our clients to understand the unique challenges and opportunities they face. Our depth of experience and knowledge is focussed on providing practical advice designed to meet all our clients’ business needs.

Individuals & Families

We understand how important your case is, our experienced teams are on hand to provide practical and effective legal advice. With one of the largest teams of lawyers in North Yorkshire we work for wealthy individuals and their families, trusts and family businesses - your needs are at the heart of what we do.

Property

Our Commercial, Residential and Agricultural Property teams have the expertise to help you deal with the opportunities and challenges of the freehold and leasehold real estate market. We have substantial depth of experience of the property world and its demands which gives us the crucial ability to help you achieve your aims.

Resolving Disputes

Disputes are an unavoidable fact of life, but when they happen it is essential to find a quick, effective and practical solution to the situation. Whether your issues are commercial or business related, family or personal, we have the depth of experience, imagination and expertise to help you solve your problems.

Our fee covers the work required to complete the sale of a residential property.

Our fee will depend on the agreed sale price, whether the property is a leasehold or a freehold property and the complexity of your particular transaction.

 

Sale Price Basic Fee for a sale
Up to £250,000 £750 – £875
£250,001 to £350,000 £795 – £975
£350,001 to £500,000 £975 – £1,400
£500,001 to £650,000 £1,295 – £1,800
£650,001 to £850,000 £1,500 – £2,000
£850,001 to £1,000,000 £2,000 – £2,500
£1,000,001 to £1,250,000 £2,500 – £3,000
If you are selling a leasehold property the minimum charge is £1,250 but will depend on the sale price.

All figures are exclusive of VAT.

 

What may impact on the level of fees?

Factors which could affect the overall costs include:

  • If the title of your property is not already registered at HM Land Registry
  • If the property is a newly converted property meaning that your buyer will be the first occupier
  • You are selling an investment property subject to a tenancy agreement
  • The property you are selling is part only of your property and we need to draft a Transfer of Part

There are some factors which will not be known until after the transaction commences which means that extra work is required.  We will advise you about any additional fees if and when such issues arise.  However, the matters listed below are some of the situations that may arise for which additional fees will apply:

  • There is a defect in title, for example, the whole or part of the title has a possessory title or a title based on adverse possession, or the title does not have necessary rights of way, and requires us to prepare a statutory declaration (it is also likely that indemnity insurance will be required which you may have to pay if your buyer will not meet the cost): £150 plus VAT

 

Hourly Rates

We will provide you with a fee depending on the type of work to be undertaken.

Our hourly rates range from £105 to £175 (plus VAT) based on the level of qualification and experience.  Your work will be allocated to the most cost effective team member with the appropriate experience.

  

Disbursements

 Disbursements are costs related to your transaction that are payable to third parties.  We handle the payment of the disbursements on your behalf.  Disbursements may include the following:

  • HM Land Registry fees for obtaining copy documents: generally £6 to £10 plus VAT, but can be more.  We will ask you to pay £50 to us on account of disbursements at the start of the transaction
  • If the property is leasehold, there are likely to be fees payable to the Landlord/Management Company to obtain service charge and other leasehold information your buyer’s solicitors will require.  These fees will not be known until the transaction progresses but are generally in the region of £300 to £500 plus VAT
  • Electronic money transfer fee: £25 plus VAT for each transfer

  

Key stages – what will Raworths do for you?

Our fees are designed to reflect the average conveyancing transaction and do not take account of unexpected difficulties or more complex issues which may arise. Conveyancing is not always straightforward, but in general, this is what we will do during a typical sale of a residential property:

  • Take your detailed instructions and provide initial advice
  • Verify your identity and ownership of the property to comply with money laundering requirements
  • Send you the necessary property information forms for completion and signing
  • Review your title documentation and draft the sale contract. If the property is leasehold, check the requirements for a sale of the property contained in your lease
  • If a leasehold property, contact the Landlord/Management Company/Managing Agents to obtain copies of the service charge accounts and other requisite estate management information
  • Provide your buyer’s solicitors with the contract, copy title documentation and property information forms
  • Obtain further planning documentation, if required
  • If your property is mortgaged, obtain a redemption statement from your lender
  • Respond to enquiries raised by your buyer’s solicitors in accordance with your instructions
  • Send the contract to you for signature
  • Liaise with your buyer’s solicitors to agree the completion date
  • Exchange contracts
  • Approve the transfer document to transfer the property to the buyer
  • Provide undertakings to your buyer’s solicitors to discharge any mortgages affecting the property and to deliver title documents to your buyer’s solicitors following completion
  • Prepare a completion statement calculating the balance of sale proceeds that will be payable to you
  • Deal with completion of your sale
  • If applicable, redeem your mortgage from the sale proceeds
  • Account to you for the net sale proceeds

 

How long will my house sale take?

 The time taken from receipt of your mortgage offer until completion of your mortgage will depend on a number of factors. The average transaction takes between 4-6 weeks. It can be quicker or slower, depending on the particular circumstances of your transaction.