1 Berridge Street, Leicester, LE1 5JT

Telephone: 0116 262 6052

lbacon@shbsolicitors.co.uk  

Salusbury Harding & Barlow is the trading name of SHB Solicitors Limited a company registered in England & Wales - No. 9155072

 

Our registered office is at 1 Berridge Street, Leicester, LE1 5JT

Authorised and regulated by the Solicitors Regulation Authority - N0: 615081

Also at 3 Wycliffe Street, Leicester, LE1 5LR 

​​​​© 2016 SHB Solicitors Limited

Residential Freehold and Leasehold Sales

 

Freehold House sale:

 

Our fees cover all of the work required to complete the sale of your home, including dealing with the repayment of your mortgage and paying the estate agent. Our fees vary depending on the value of the property being sold - the following figures provide guide prices at the stated property price points. In some cases we may identify circumstances which involve additional costs and we will discuss this with you.

 

Examples of Conveyancer's fees and disbursements:

 

 

 

 

Disbursements are costs related to your matter that are payable to third parties, such as searches or Land Registry fees. We handle the payment of the disbursements on your behalf.

 

Additional fees:

 

In addition to our fees and disbursements as indicated above, additional fees may be payable in some cases. Some examples where this may be necessary:

(i) if you have more than one mortgage to pay off.

(ii) if you have got a government Help To Buy Equity Loan to pay off.

(iii) if you are selling a property that is not registered at the Land Registry, which can involve more work than a registered property.

 

How long will my house sale take?

 

How long it will take from you accepting your buyer’s offer until you can completed your sale will depend on a number of factors. The average process takes between 6-9 weeks. It can be quicker or slower, depending on the parties in the chain. For example, if your buyer is a first time buyer, and you are not buying another property so there is no chain, it could take 6 weeks. However, if you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 4 months. In such a situation additional charges would apply based on the additional work involved. Your sale’s timing will also be guided by the timing of any linked transactions on the part of you or your buyer.

 

Stages of the process:

The precise stages involved in the sale of a residential property vary according to the circumstances. However, below we have set out some key stages that will usually be relevant:

 

  • Take your instructions and give you initial advice

  • Prepare and send out contract documents

  • Obtain further documentation if required

  • Deal with any enquiries raised by the buyer’s solicitor

  • Meet you or send sale papers to you for signature

  • Agree a completion date

  • Apply for mortgage settlement figure(s) (if required)

  • Exchange contracts to make the deal binding and notify you that this has happened

  • Complete your purchase

  • Deal with repayment of your mortgage

  • Deal with payment of the estate agent

  • Account to you with the net proceeds of your sale

 

Please note that the examples of our fees assume that:

a. 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

b. this is the assignment of an existing lease and is not the grant of a new lease

c. the transaction is concluded in a timely manner and no unforeseen complications arise

d. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation

e. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

 

 

Leasehold House/apartment sale:

 

Our fees cover all of the work required to complete the sale of your home, including dealing with the repayment of your mortgage and paying the estate agent. Our fees vary depending on the value of the property being sold - the following figures provide guide prices at the stated property price points. In some cases we may identify circumstances which involve additional costs and we will discuss this with you.

 

Examples of Conveyancer's fees and disbursements:

Disbursements are costs related to your matter that are payable to third parties, such as searches or Land Registry fees. We handle the payment of the disbursements on your behalf.

 

There are likely to be some disbursements the cost of which we cannot predict at this stage. For example, the buyer’s solicitor will require a Sale Information Pack from your landlord or their managing agent – we will obtain this for you but these often involve a fee payable to the landlord or their agent which can vary between £100 and £300, sometimes even more.

 

Additional fees:

 

In addition to our fees and disbursements as indicated above, additional fees may be payable in some cases. Some examples where this may be necessary:

(i) if you have more than one mortgage to pay off.

(ii) if you have got a government Help To Buy Equity Loan to pay off.

(iii) if you are selling a property that is not registered at the Land Registry, which can involve more work than a registered property.

 

How long will my sale take?

 

How long it will take from you accepting your buyer’s offer until you can completed your sale will depend on a number of factors. The average process takes between 8 to 10 weeks. It can be quicker or slower, depending on the parties in the chain. For example, if your buyer is a first time buyer, and you are not buying another property so there is no chain, it could take 6 weeks. However, if you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 4 months. In such a situation additional charges would apply based on the additional work involved. Your sale’s timing will also be guided by the timing of any linked transactions on the part of you or your buyer.

 

Stages of the process:

 

The precise stages involved in the sale of a residential property vary according to the circumstances. However, below we have set out some key stages that will usually be relevant:

 

  • Take your instructions and give you initial advice

  • Prepare and send out contract documents

  • Obtain further documentation if required

  • Deal with your landlord or their agent to obtain a Sale Information Pack

  • Deal with any enquiries raised by the buyer’s solicitor

  • Meet you or send sale papers to you for signature

  • Agree a completion date

  • Apply for mortgage settlement figure(s) (if required)

  • Exchange contracts to make the deal binding and notify you that this has happened

  • Complete your purchase

  • Deal with repayment of your mortgage

  • Deal with payment of the estate agent

  • Account to you with the net proceeds of your sale

 

Please note that the examples of our fees assume that:

a. 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

b. this is the assignment of an existing lease and is not the grant of a new lease

c. the transaction is concluded in a timely manner and no unforeseen complications arise

d. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation

e. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.