Property Purchase
Key Stages and Approximate Timescales
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Instruct us as your conveyancer. You need to return your original completed forms to us with initial disbursements so that we can open your file. We will then need to verify your identity and proof of address.
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We also need to have evidence of source of funds and details of any money being gifted to you.
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We receive the contract pack from your seller’s solicitor, apply for the relevant searches and raise enquiries of the seller’s conveyancer. We also report to you on the contract pack.
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We receive a copy of your mortgage offer (if applicable) and report to you on this.
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Once all enquiries have been satisfactorily answered and the search results have been received we will send you a final report enclosing the contract for your signature. We also request the deposit from you.
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When the parties are satisfied on all points and the chain is ready, contracts are exchanged and a date is fixed for completion.
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We send you a completion statement showing the amount due from you in order to complete.
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On completion we receive funds from your mortgage lender and send the purchase money to the seller’s conveyancer. Once it is received by them you can collect the keys to the property.
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We pay the Stamp Duty Land Tax and arrange for the property to be registered in your name with HM Land Registry.
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A copy of the updated title is sent to you together with any other relevant documentation.
Example Fees
for a standard freehold sale and purchase with a property price of £468,000 (the average price in 2022 for a freehold property in the South East of England)
INITIAL COSTS
Search Pack (including a Regulated Search on the basis this is acceptable to your mortgage lender)
£260.50
Commons Registration Search Fee including VAT at 20.00%.
£18.00
Bankruptcy Search Fee
£8.00
Anti Money Laundering check fee including VAT at 20.00%
£11.90
TOTAL INITIAL DISBURSEMENTS
£298.00
.
COMPLETION COSTS
Land Registry Search Fee
£3.00
Bank CHAPS transfer fee inclusive of VAT at 20.00%
£36.00
Lender's legal fee inclusive of VAT & at 20.00%
£132.00
Stamp Duty Land Tax
£10,496.00
Land Registry Registration Fee
£135.00
This firm's professional fees including VAT at 20%
£1,740.00
TOTAL COMPLETION COSTS
£12,542.00
.
TOTAL PURCHASE COSTS
£12,840.40
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