Sale of a leasehold residential property
Our fees cover all the work* required to complete the sale of your home, including dealing with the redemption of all registered mortgages.
Legal fees : Please refer to our table of estimated fees.
Disbursements - Disbursements are costs related to your matter that are payable to third parties, such as bank transfer fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller's solicitors.
|Office Copy Entries and Filed Plan||£8.00|
|Electronic money transfer fee||£20.00 plus VAT|
Certificate of Compliance fee - To be confirmed upon receipt of the lease, as can range between £100.00 plus VAT and £300.00 plus VAT.
Managing agents fees for dealing with the Managing Agents questionnaire - £100.00 plus VAT and £300.00 plus VAT.
*These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.
Extra legal fees will be charged, as follows, in the event that any of the following documents are required in relation to the transaction:-
Licence to Assign
£350.00 plus VAT
Deed of Covenant
£150.00 plus VAT
Indemnity policy (all types)
£150.00 plus VAT per policy
Deed of Variation
£750.00 plus VAT
The precise stages involved in the sale of a residential leasehold property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:
Take your instructions and give you initial advice.
Obtaining title deeds.
Upon your instructions, documentation will be prepared and sent to the Buyer’s Solicitors. This includes:
- Draft Contract.
- Copy Entries of the Title Register and plan relating to the above property.
- A copy of the Lease.
- The Property Information Forms.
Approval of the contract and the purchase deed.
Obtain replies to the management questionnaire from the managing agent.
Once all enquiries raised have been settled, send final contract to you for signature.
Agree completion date.
Exchange contracts and notify you that this has happened.
You will be legally bound to move on the completion date.
If necessary, discharging of your mortgage on the property on completion.
Payment of the Estate Agents’ fees.
The balance of sale proceeds will be sent to you following completion.
How long will my house sale take?
How long it will take from your offer being accepted until you can move out of your house will depend on a number of factors. The average process takes between 8 - 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, with a mortgage in principle, it could take 8 weeks. However, if you are in a long chain, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges would apply.
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;
this is the assignment of an existing lease and is not the grant of a new lease;
the transaction is concluded in a timely manner and no unforeseen complication arise;
no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.