Pricing – Sale of residential property

Sale of a residential property

Prices

Please note that there will be two elements to the prices as set out below:

  1. Fees charged by Hutchinson & Buchanan; and
  2. Fees payable to third parties.

Please ensure that you consider both parts to our price information.

 

Fees charged by Hutchinson & Buchanan

 

                                                                For Freehold Properties                 

                                                               (most houses)                                   

Property price range                        Legal fee *                            VAT                                                       

£0.00 – £150,000.00                           £575.00                                 £115.00

£150,001.00 – £225,000.00               £675.00                                 £135.00

£225,001.00 – £275,00.00                  £750.00                                 £150.00

£275,001.00 – £375,000.00               £950.00                                 £190.00

£375,001.00 – £500,000.00               £1250.00                               £250.00

£500,001.00 +                                      Please contact us to discuss the property and your requirements.

 

 

Additional charges regardless of property price    

                                                                Fee *                                      VAT

Bank transfer (each transfer)             £12.00                                   £2.40

New Build Property                              £200.00                                 £40.00

Leasehold Property                             £200.00                                 £40.00

Shared Equity Scheme                       £250.00                                 £50.00

Help to Buy ISA Scheme                    £50.00                                   £10.00

 

* Basis of charging = fixed fee.

 

Fees payable to third parties (‘Disbursements’)

Fee                                                                         Actual fee

Office copy entries                                               £6.00 (including VAT)

 

Work included and key stages

The precise work and stages involved in the sale of a freehold residential property vary according to the circumstances. However, we have set out the key stages involved in a typical sale transaction:

  • Take your instructions and give you initial advice.
  • Check the title of the property you are selling.
  • Prepare documents, the contract of sale and deeds relating to your sale.
  • Dealing with questions and enquiries raised by your buyer(s)’ solicitors.
  • Reporting and providing information to you relating to the property you are selling.
  • Exchanging contracts following any necessary negotiations on the terms.
  • Approving the transfer deed from the buyer(s)’ solicitors.
  • Completing your sale and accounting to you for the proceeds or receiving from you any monies required to complete the sale.
  • Dealing with all post-completion matters, particularly repaying any outstanding mortgages or loans.

 

If the property you are selling, is leasehold we will also provide the following service:

  • Corresponding with the management agent to obtain the leasehold information pack

 

Services excluded

Our service will not include any of the following:

  • Advice on the value of the property.
  • A physical inspection of the property.
  • Advice on any planning implications unless instructed to do so which may be subject to additional charges.
  • Checks on the property to ensure that it has been built in accordance with any planning permissions granted.
  • Advice on any search result findings that identify contaminated land, fracking sites or other environmental issues.
  • Advice on tax or other accounting matters.

 

Approximate/ average timescales

How long it will take from you accepting an offer on your property until the sale is completed, will depend on a number of factors. However, the average process takes between 4-6 weeks.

It can be quicker or slower depending on the parties in the chain and the efficiency of third parties involved in the sale such as the buyer’s solicitors, the solicitors representing other buyers and sellers in the chain, your buyer’s bank if they are taking out a mortgage, search providers and the relevant local authority to conduct your buyer’s local search.

 

Factors that could increase costs

In some circumstances we may increase our fees to account for additional time, work or skill required to meet your instructions. Examples include:

  • If there is a defect in the property title which requires remedying prior to completion.
  • If we are required to discharge more than one mortgage or loan on the property.
  • If we are required to obtain retrospective approval to any alterations to a property or obtain an insurance indemnity policy in relation to any problem concerning the transaction.
  • If your property is Leasehold and a chief rent or ground rent is payable and you do not provide an up to date rent receipt.
  • If the transaction is complex ie those including agricultural land or woodland, the property is mixed use or commercial.
  • Commercial/mixed use transaction
  • The property has non-standard restrictions on title

 

Our residential conveyancing team includes:

Andrew Hutchinson – Solicitor & Senior Partner

Richard Storey – Solicitor & Partner

Audrey Clark – Conveyancer

Regardless of who works on your matter, they will be supervised by Andrew Hutchinson – Solicitor & Senior Partner