Sale of a Leasehold Residential Property

Our fees cover all of the work required to complete the sale of your current home.

Fees and Disbursements

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

• Legal fees range from £1,500.00 to £3,000.00 plus VAT (currently at a rate of 20%) and disbursements. The fee will be dependent on the following factors:
  • The sale price;
  • Complexity of the transaction;
  • Whether the property is registered or unregistered; and
  • If there are any strict deadlines to be met.
• Electronic money transfer fee of £15 plus VAT of £3.00 per payment.
• Title entries of £6.00 per title plus VAT of £1.20 per title.
• Management Pack fees range from £150.00 to £500.00 plus VAT depending on the organisation providing the responses.

As no property or property transaction is the same, our fees reflect the particular circumstances and your requirements. Please do not hesitate to contact us and we will provide a full estimate for you taking into account all the appropriate factors.

How long will my sale take?

How long it will take from your acceptance of an offer until you can move out of your property will depend on a number of factors, including the following:

• The timing desired by the seller and the buyer;
• Speed and efficiency of the parties and their advisers;
• If there are any related transactions; and
• The turnaround time for the management pack.

The average process takes between 12-20 weeks.

It can be quicker or slower, depending on the parties in the chain. For example, if you are selling to a first-time buyer, with a mortgage agreed in principle, it could take 10 weeks. However, if you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, between 16 and 20 weeks. In such a situation additional charges would apply.

Stages of the process

The precise stages involved in the sale of a residential property vary according to the circumstances. However, below we have suggested the key stages:

1. Take your instructions and send out the Property Information Forms for you to complete;
2. Send out initial letters to the agents and buyer’s solicitors confirming we are instructed;
3. Request management pack from the organisation who manages the property; this could be your Landlord, managing agents, or management company;
4. Draft contract and collate draft papers;
5. Make any necessary amendments to contract documents and reply to any enquiries raised by the buyer’s solicitor;
6. Agree completion date (the date from which you will no longer own the property);
7. Exchange contracts and notify you that this has happened;
8. Arrange for all monies needed to be sent to you and the lender, if applicable. We will send you a completion statement confirming the funds required;
9. Complete purchase (Completion).

* 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 complications arise;
• All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation; and
• No indemnity policies are required. Please note that additional disbursements may apply if indemnity policies are required.

Our Property Department is made up of: Paul Craig, Emma Holden-Shah, Richard Price and a circulating trainee solicitor. If your transaction is not being handled by a partner, a partner will be supervising your transaction.