Sale of a leasehold residential property

Our fees cover all of the work required to complete the sale of your home, including obtaining a Management Pack, redemption of any mortgages and payment of Estate Agent fees.

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. There are certain disbursements which will be set out in the individual lease relating to the Property. The disbursements which we anticipate will apply in addition to those provided for on our quote calculator are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller's solicitors.

Anticipated Disbursements*

·       Ground Rent receipt and Notice fees from Landlord. Often the fee is between £100.00 to £250.00.

·       Management Pack.  Often the fee is between £100.00 to £250.00.

·       Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is                  between £100.00 and £300.00.

*These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.

How long will the 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 8-10 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, selling a property which is shared ownership, it could take 10-16 weeks.  If you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges would apply and these would be discussed with you.

Stages of the process

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below are some key stages to the transaction:

  • Take your instructions and give you initial advice
  • Draft the contract and send to the buyer’s solicitors
  • Deal with enquiries raised by the buyer’s solicitors
  • Request ground rent information from the landlord
  • Request a management pack from the management company
  • Obtain further documentation as revealed on the searches and contract documentation if required
  • Obtain a redemption figure from your lender
  • Send final contract to you for signature
  • Agree completion date (date from which you own the property)
  • Exchange contracts and notify you that this has happened
  • Arrange for all monies needed to be received from the buyer’s Solicitors
  • Complete the sale
  • Deal with repayment of any mortgages and Estate Agent fees
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