Sale

Buying and selling property can be a stressful process. Our aim is to take the stress out of your next move. We are accredited members of the Law Society’s Conveyancing Quality Scheme (CQS), a recognised quality standard which reflects the skill and expertise our practice has achieved to provide quality advice to you in respect of your conveyancing transaction.

What Happens

  1. We draft a contract for the sale and send it to the buyer’s solicitors for approval along with the Property Information forms
  2. The buyer’s solicitors raise ‘additional enquiries’ (questions not covered in the contract papers) and carry out searches
  3. The buyer’s solicitors approve the contract papers and take a deposit (usually 10% of the sale price) from the buyer
  4. Completion dates are discussed and, when agreed, contracts are exchanged
  5. If there is a mortgage on the property, we will obtain a statement from your existing lender(s) showing the amount due to redeem your mortgage
  6. We will inform you of any shortfall or excess funds once we receive a redemption statement and let you have a completion statement
  7. From the proceeds of your sale we will discharge your mortgages, estate agents commission and deduct our legal fees and disbursements. Any balance will be transferred to your purchase if you have one or sent to you
  8. The average time to completion is 8-12 weeks, it can be less or more and the time taken will depend on the number of factors including parties involved, length of the chain and the complexity of the issues encountered.
  9. We shall retain a scanned copy of your file following completion of your transaction for a minimum period of 6 years

Our Charges

Our charges for acting on your behalf on a sale start at £850 plus vat and disbursements and increase dependant on the sale price of your property.

The disbursements can include:

  • Official copy entries £6 – £12
  • Copy of lease
  • Leasehold information pack (the charges vary)
  • To administer a bank transfer £40 + Vat

Additional Charges

We may be required to carry out additional work on your behalf which may not be known at the start of the transaction. If this is the case we shall charge an additional fee for the extra work involved. The following will attract an additional fee:

A. Drafting or checking a new deed of covenant £125 plus Vat
B. If the freehold property you are selling includes a use and obligation to share the cost of maintenance of amenity lands – investigating the extent of liability and costs and requirements for transfer of the membership of any management company £175 plus Vat
C. If the property you are buying or selling contains more than one title (sometimes eg a house and a garage on a separate plot have two separate title numbers). – investigating the additional title and dealing with additional enquiries on a sale and making additional searches and enquiries on a purchase £175 plus Vat
D. If we are asked to hold a retention on completion eg because there are unknown service charges at the date of completion A retainer of £150 plus Vat
E. Preparing a statutory declaration £125 plus Vat
F. If there are special conditions on your mortgage which have to be investigated and satisfied (eg a further loan under a separate account) £75 plus Vat
*All prices are subject to VAT.

We reserve the right to review our fees if a transaction becomes complicated. This will be discussed with you in advance. Wherever possible, our conveyancing work is carried out on the basis of the estimate provided. Within this estimate we will include all conventional work associated with a typical conveyancing transaction. However, sometimes issues arise during the course of a transaction which are not normally part of the conveyancing process and for which we have to make an additional charge. Some items occur more often than others and for these items we have standard fees which are set out above. However please note that this list is not exhaustive.

Your sale will be dealt with by Ozma Ali who is a qualified solicitor who has specialized in conveyancing for over 20 years and has a wealth of experience. Please do not hesitate to contact her on 0208 767 7718 or by email, to ozma.ali@broadwaysolicitors.com.