Freehold Residential Sales

How long will my house sale take?

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. The average process takes between 6 -12 weeks.

It can be quicker or slower, depending on the parties in the chain. For example, if you your buyer is a first-time buyer, purchasing with a mortgage in principle.  We will of course keep you advised of progress throughout the transaction.

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 some key stages that you may wish to include:

• Take your instructions and give you initial advice
• Contact your estate agent
• Contact the buyers Solicitors
• Check the title documents of the property you are selling
• Deal with any questions raised by the buyers Solicitors
• Approve the transfer deed to the buyer(s)
• Arrange with you for the signature of the transfer documents
• Agree a completion date
• Exchange contracts with your consent
• Prepare a financial statement showing you the distribution of funds
• Complete the transaction
• Deal with post completion matter and distribute the proceeds of sale in accordance with your instructions.

How much will it cost?

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

Our typical conveyancing fees range from £995.00 plus VAT at 20% (Total £1,194.00) where the sale price is up to £200,000 and up to £1,650.00 plus VAT at 20% (Total £1,980.00) where the property is valued at under £1,000,000.  We do not accept instructions on properties valued at over £1,000,000.

In addition to the legal fees, you will also have additional costs to pay, known as “disbursements”. These are costs related to your sale that are payable to third parties. Typically, they include, but are not limited to:

• HM Land Registry Title Documents priced at £3.00 per document
• Electronic money transfer fee estimated at £17.00 per transaction

If we assume a sale price of £250,000 for one person with a mortgage to clear our typical fees would be:                       

Legal Fees    

• Solicitors Costs                                     £1,100.00
• VAT on Solicitors Costs @ 20%            £  220.00                                        

Expenses   

• Official Copy HMLR Entries                  £      6.00*
• CHAPS Bank Transfer                            £    34.00  (2 x £17.00)

*assuming the only documents held by HM Land Registry are the Title Plan and Title Register.

Please understand there may well be additional disbursements that we cannot predict.  If there are other fees to pay we will inform you. Disbursements are quoted inclusive of VAT if applicable.

Residential Conveyancing matters at Wise Solicitors are handled by Simon Wise, Solicitor. Simon qualified as a Solicitor in 2003.