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Selling a Property

Fees Involved When Selling A Property

"The team were extremely professional in putting my needs first. There was a joined-up approach to catering for the client, and all lawyers involved were briefed and constructive."

Chambers UK 2019

Selling a Property

Our fees and disbursements

Legal Fee:
Our fees will depend on the value of the property you are selling and whether its freehold or leasehold and will range from £950.00 to £2,225.00 plus VAT*

Sale disbursements:

Land Registry copy title register, plan and lease£3 per document
Landlord / managing agents’ fees for replies to standard form management enquiries ( for a leasehold property)£200 to £500 + VAT (if applicable) approximately
Telegraphic transfer fee £15.00 plus VAT
Estate agents fees £TBC
Mortgage redemption (if applicable) £TBC
ID check £7.20

VAT:
You will only pay VAT on our legal fees and the cost to make an electronic money transfer.

Referral fees:
For some transactions, we do pay referral fees. The amount of any referral fee will be disclosed to you at the commencement of the transaction. To be clear, these referral fees are paid by us to third parties and not by you.

What are disbursements:
These are costs related to your house or flat sale purchase that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure there is no delay in your sale.

We will redeem a mortgage registered against the property in completion of the sale. We will be able to provide you with a figure for the redemption amount once you have instructed us to act for you.

Please contact your estate agent to confirm the fees that you have agreed to pay them. Normally we will pay the estate agents fees out of the proceeds of sale on completion of the transaction.

Typical sale timescales and key stages
Timing of your conveyance will depend on a number of factors but, on average, a residential property sale takes 4 to 8 weeks. If you are in a chain, the timing of your transaction is likely to need to coincide with the other parties in that chain.

Key stages of the sale process are typically:

  • Receive your instructions, identification and other necessary details
  • Prepare and send sale documentation pack for buyer’s solicitor
  • Apply and supply assignment/management pack (leaseholds only)
  • Initial contact with lender (if redemption of mortgage is involved)
  • Respond to enquiries by buyer’s solicitor
  • Finalise contract for signature & confirm completion date
  • Exchange contracts
  • Complete sale, redeem mortgage(s) and transfer proceeds of sale as necessary

 

*Our fee assumes that:
Your property sale 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. The maximum fee shown is for a sale price of a leasehold property between £1,400,000.00 and £1,500,000.00. Please contact us for a quote if the purchase price is above £1,500,000.00

 

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Introducing Your Property Law Legal Team

Osbornes has an experienced team of specialist property-law lawyers to assist with your case / situation

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Camden

Livery House, 9 Pratt Street, London NW1 0AE
Tel: 020 7485 8811 Fax: 020 7485 5660
DX Number 57053 Camden Town

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28A Hampstead High Street, Hampstead, NW3 1QA
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