Selling a Leasehold Property
Our fees cover all the work required to complete the sale of your home. Our scale of fees is set out below.
Legal fees are calculated according to the value of the property.
|Up to £150,000||£1075 plus VAT||Total £1290|
|£150,001 to £300,000||£1100 plus VAT||Total £1320|
|£300,001 to £500,000||£1125 plus VAT||Total £1350|
|£500,001 to £750,000||£1225 plus VAT||Total £1470|
|£750,001 to £1 million||£1675 plus VAT||Total £2010|
|In excess of £1 million||0.33% of purchase price plus VAT at 20%|
|Additional legal fee where sale includes discharging mortgage||£100 plus VAT Total||Total £120|
|Electronic money transfer fee||£30 plus VAT||Total £36|
Disbursements are costs related to your matter that are payable to third parties, such as office copy entries. 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 below.
|Office Copy entries||£20|
|Management Information Pack||£200-£300 according to the managing agent|
Our fee assumes that:
- 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.
- all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
- no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
Should one or more of the above arise we reserve the right to vary our fee from the scales above, but we will always seek your approval of any variation before additional fees are incurred.
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How long will it take?
How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 6 and 10 weeks. It can be quicker or slower, depending on the parties in the chain. If, for example, you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, perhaps so long as 3 and 6 months. In such, a situation additional charges would apply.