Solicitors fees

baskerville_2

Another stupid question perhaps? I understand all the fees regarding our purchase of a house, searches, land registry etc but what fees are likely to be incurred regarding the sale of our property? Obviously we are selling and buying.

cattie

No question is stupid when you don't know the answer!

Well there is the solicitor legal fee for a start, plus any disbursements that may occur during sale such as postage, copying, official copies of title and of course the dreaded vat on top.

Flat_Eric

There will be the solicitor's charge for acting on your behalf in connection with the sale.

Then there will be various disbursements including :

Applying for up to date Title from the Land Registry
Telegraphic transfer fee and bank charge for sending mortgage redemption monies to your lender.
Telegraphic transfer fee and bank charge for sending sale proceeds to you (probably not applicable if you are purchasing at the same time).
Thats about it on a sale although I might be wrong. There could be some payments to your Local Authority if your buyer wants copies of planning permissions and the like. These are usually a few tens of pounds.

oh and there might be (in some instances) monies payable for an indemnity policy but these are usually payable from the sale proceeds - in fact all monies payable in connection with a sale are usually payable from the sale proceeds with your solicitor sending you any balance. (or forwarding to your purchase matter). He or she might want some monies up front to pay for the disbursements (office copies from the land registry)

baskerville_2

Marvellous, i've had the quote regarding our purchase so all the searches, fees, money transfers etc but just wondered what the figure would be like from the sale if you get my drift. I assume its less as not so much to do from that end (hopefully!) Our buyers are not in a chain and the house we're purchasing is not in a chain so hopefully should be straightforward - but i'm not naive enough to think it couldn't all still go horribly wrong:eek:!!!!!!!!!!!!!!!!!!!

cattie

Probably a rough estimate of £1k on purchase of a freehold property.

fluffymuffy

We bought a house recently. It was just a purchase - we didn't have one to sell. This is the fee breakdown from our solicitor. It's a medium-sized solicitor's firm (real solicitors). [I hatched out the stamp duty for privacy].

Costs

Our professional charges 475.00
VAT thereon 95.00
Telegraphic Transfer Service 30.00
VAT thereon 6.00
ID Check Fee 12.00
VAT thereon 2.40
SDLT Administration Fee 40.00
VAT thereon 8.00


Disbursements

HM Land Registry fee on completion 280.00
Stamp duty ######
Local Search Fee 100.00
Land Registry Search Fee 4.00
Bankruptcy search 4.00
Mining Search Fee 32.40

Total £1088 + stamp duty

G_M

Read this advice here on quotes and what they should include and what fees may be 'hidden' on a sale/purchase.