Guide to Selling your Home – the usual key stages, timescales and costs
Your home is more than bricks and mortar. At QualitySolicitors Large & Gibson, we understand the importance of that.
What is conveyancing?
- Preparation of legal documents by a solicitor to transfer property from one owner to another.
- 3 main stages - Preliminary (subject to contract), exchange of contract and completion.
Our team of expert property lawyers will make buying and selling property as straightforward as possible. Getting the right property solicitor is vital; we will provide a highly personalised service, with your best interests at heart.
- Keep the process on track, giving clear timescales and eliminating delays.
- Keep you informed at every stage.
- Have same day response - crucial for your contractual issues and any property updates.
- Have clear conveyancing fees that are easy to understand and include any necessary legal checks and searches.
- Have no hidden costs.
Moving house no longer has to be complex. At QualitySolicitors Large & Gibson, we will ensure that all your property documentation is double checked and explained to you clearly and thoroughly. Crucially, we will liaise with your lender, estate agents and other parties to ensure all communication is explicit and prompt. By trusting us with your conveyancing, our property lawyers will take care of all legal details.
Our specialist conveyancing team have many years’ experience dealing with the buying and selling of property across Portsmouth, Hampshire and beyond. QualitySolicitors Large & Gibson are members of the Law Society’s Conveyance Quality Scheme (CQS), involving an audit of practice and procedures to meet exacting standards.
For free initial property legal advice, contact us today on 023 92 296296.
Key stages of the matter
- Finding a buyer
- Taking instructions
- Preparing Contract
- Answering enquiries
- Signing Contract
- Exchanging Contract
- Preparing full completion
- Completing i.e. moving day
Typically, a sale/purchase will take in the region of 14 - 20 weeks from when we receive or issue a draft contract pack on a freehold transaction. Leasehold transactions can be longer. There are many reasons as to why any transaction it may take longer (due to, but not limited to), length of the chain, mortgage offers, holidays and whether the chain is complete in all respects.
New build transactions are solely at the behest of the Developer and can run into months if the new property is not ready to move into upon exchange of contracts. Please contact us for further information.
N.B. This information is only for individuals on their sales and purchases and not for any transaction by a limited company or partnership.
Freehold sale matters start from £699.00 plus vat.
The following expenses (payments to others) apply
- Office Copies from £6.00 plus VAT
- AML ID checks £5.00 plus VAT per name
- Case Management Fee £28.61 plus VAT
- Telegraphic Transfer Fee (if required) £40.00 plus VAT each
Leasehold sale matters start from £949.00 plus VAT.
The following expenses (payments to others) apply:
- Office copies from £24.00 plus VAT
- AML ID Checks £5.00 plus VAT per name
- Case management fee £28.61 plus VAT
- Management pack(s) ranging from £100 - £400 plus VAT
- Telegraphic Transfer fee (if required) £40.00 plus VAT each
If a lease extension is needed, further fees will be incurred, so please contact us for further details, but these start at £995.00 plus VAT for a negotiated settlement, and £1,495.00 plus VAT for a statutory settlement. Landlords solicitor’s fees may also be charged to a tenant and can be a similar figure.
If this matter proves to be more complicated than all parties thought at the outset, then our fees may need to be revised, but only after full consultation and agreement with you in this regard. Please see our note of possible extra fees attached
|Dealing with any restrictions/notices on the title||£100 plus VAT|
|Redeeming a existing First Mortgage (if not included in the above estimate)||£150 plus VAT|
|Redeeming Help to Buy Equity Mortgage||£350 plus VAT|
|Deed of Variation to a Lease||£275 plus VAT|
|Dealing with existing Tenancy Agreements (where tenant is to remain)||£195 plus VAT|
|Preparing a Statutory Declaration||£95 plus VAT|
|Obtaining/arranging indemnity insurance||£75 plus VAT|
|Dealing with Shared Ownership formalities||£350 plus VAT|
|Dealing with solar panels||£250 plus VAT|
|Delaing with share of Freehold formalities||£250 plus VAT|
Please note VAT will be charged at the prevailing rate.
If you have any questions at all about your potential property transaction, please do not hesitate to call us or e-mail one of our team who will be delighted to assist you further.
Fees as at 1st October 2022