Sales & Purchase – Leasehold

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Sale of a Leasehold residential property

Prices

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

  1. Fees charged by Burys Solicitors; and
  2. Fees payable to third parties.

Please ensure that you consider both parts of the price information.

Fees charged by Burys Solicitors

Property Price Range
£0.00 – £100,000.00
£100,001.00 – £150,000.00
£150,001.00 – £200,000.00
£200,001.00 – £250,000.00
£250,001.00 – £350,000.00
£350,001.00 – £400,000.00
£400,001.00 +

Legal Fee
£590.00
£630.00
£650.00
£770.00
£810.00
£850.00
Call for quotation

VAT
£118.00
£126.00
£130.00
£154.00
£162.00
£170.00

Total Fee
£708.00
£756.00
£780.00
£924.00
£972.00
£1,020.00

Fees payable to third parties (‘Disbursements’)

Fee Description
Bank Transfer Fee
Office Copies
Leasehold Property Enquiries (dependent on
management company)

Fee
£25.00
£3.00 (per search)
£150.00 – £400.00

VAT
£5.00
N/A
Included

Total
£30.00
N/A
£150.00 – £400.00

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.

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
6 – 8 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.

Work included and key stages

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

  •  Take your instructions and give you initial advice.
  • Check finances are in place to fund the purchase and contact the lender’s solicitors if needed.
  • Receive and advise on contract documents.
  • Carry out searches.
  • Make any necessary enquiries of seller’s solicitor.
  • Give you advice on all documents and information received.
  • Go through the conditions of mortgage offer with you.
  • Check the title of the property and prepare the document to transfer ownership to you.
  • Send the final contract to you for signature and ask you to pay the agreed deposit to us so that contracts can be exchanged.
  • Agree a completion date (date from which you own the property).
  • Exchange contracts and notify you that this has happened.
  • Arrange for all monies needed to be received from the lender (if applicable) and you.
  • Complete purchase.
  • Deal with payment of Stamp Duty Land Tax.
  • Deal with application for registration at Land Registry.
  • Notify you and your lender (if applicable) of registration once confirmed.

Services excluded

Our service will not include any of the following:

  • Advice on the value of the property.
  • Advice on the suitability of your mortgage or any other financial arrangements.
  • 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 (other than SDLT) or other accounting matters.

Approximate/ average timescales

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. However, the average process takes between 6 – 8
weeks.
It can be quicker or slower depending on the parties in the chain and the efficiency of third parties involved in the purchase such as the seller’s solicitors, the solicitors representing
other buyers and sellers in the chain, your bank if you are taking out a mortgage, search providers and the relevant local authority to conduct your 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 your lender makes detailed instructions requiring us to deal with matters other than those relating to the title to the property.
  • If your lender instructs another conveyancer to act for them.
  • If the lender requires anything other than a simple certificate of title (a simple certificate of title is standard with most lenders) in order to send the mortgage funds to our
    firm.
  • If a trust document is required.
  • If there is a defect in the property title which requires remedying prior to completion.