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Sale of a Leasehold Residential Property
How much does this service cost?
No property sale is the same and so our fees will reflect the particular requirements of your sale. The figures quoted below may vary in cases with added complexities, and therefore we cannot give you a fully reliable estimate of the cost of us helping you until we have details of the transaction. That’s why we’ll always give you an individual cost estimate at the start of the transaction, taking into account the actual features of your sale. We will always advise you immediately about any complication; and would fully discuss the potential impact on price before any additional charges are incurred.
Our fees will be calculated primarily by reference to the sale price of the property, although other factors may be taken into account.
Our fees, excluding VAT and disbursements, will range from approximately £1,450 for a property with a sale price under £200,000 to approximately £2,750 for a property with a sale price of or more than £1million. VAT will be charged at 20% on top of all fees, costs and disbursements.
Disbursements are costs related to your matter that are payable to third parties. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Potential Disbursements / Other Costs
- Bank Transfer Fee (per transfer) – £35.00 +VAT
- Land Registry Office Copies – approx. £15.00 +VAT
- Leasehold management information pack and other fees – usually between £150.00 – £500.00 +VAT (dependent upon landlord/management company/managing agent). We will not be privy to the exact fee until we receive the pack.
Please note that as there will be a landlord/management company/managing agent involved, there will be apportionments of service charge/ground rent/buildings insurance to calculate to the completion date.
As part of our fee we will
- Take your instructions and give you initial advice
- Prepare and compile contract pack
- Respond to enquiries of purchaser’s solicitors
- Send final contract to you for signature
- Agree completion date (date from which you no longer own the property)
- Exchange contracts and notify you that this has happened
- Complete purchase
- Settle all outstanding payments due and then pay balance of sale to you
How long will my property sale take?
How long it will take from you accepting an offer until you no longer own the property will depend on a number of factors. The average process takes between 8-12 weeks for a sale with no chain involved. For property sales with a chain it is likely to take a bit longer, but how much longer is dependent upon the other parties within the chain.
