Cost of Selling Your Property
We offer fixed fees depending on the value of the property. Our fees cover all of the work* required to complete the sale of your home. You will also have to cover any disbursements we pay on your behalf. Disbursements are costs related to your transaction that are payable to third parties in the course of your sale, such as estate agents’ fees. Other typical disbursements are listed under a separate heading below.
This work includes dealing with the procurement, review and basic reporting of title information, co-ordinating standard pre-contract and reasonable additional enquiries, negotiating and agreeing contract and transfer documents, procurement of Land Registry Official Copy Entries and tile plan, and arranging the redemption of existing mortgages.
FEES (INCLUDING SUPPLEMENTAL FEES APPLICABLE TO SOME SALES)
Please note that this is not an exhaustive list, and other fees may be applicable to the sale of your property, depending on circumstances.
| Item | Fee |
| Legal fees, depending on the value of the property | All including VAT at current rate of 20% |
| Up to £300,000 | £714 – £1,434 |
| £300,000 – £400,000 | £960 – £1,554 |
| £400,000 – £500,000 | £1,080 – £1,674 |
| £500,000 – £600,000 | £1,500 – £1,794 |
| £600,000 – £800,000 | £1,542 – £1,914 |
| Over £800,000 | Price on application |
| Leasehold supplemental fee | £240 |
| Mortgage discharge fee (first mortgage) | £90 |
| Unregistered property supplemental fee | £180 |
| Anti-money laundering / ID checking fee, per person | £24 |
| Electronic money transfer fee within the UK (including bank charges) | £42 |
Non-standard / Additional work – HOURLY RATES
Depending on the complexity of the transaction or documentation, additional fees may apply at the fee earner’s hourly rate on all types of transaction, at the following indicative rates:
Partner £330-£360 including VAT at current rate of 20%
Solicitor £252-£330 including VAT at current rate of 20%
Conveyancer £180-£252 including VAT at current rate of 20%
Please refer to individual staff profiles Our People – Redkite Solicitors for details of individual qualifications and experience.
SUPERVISION
In addition to the lawyer handling the sale, conveyancing transactions are further supervised by a senior member of the team or Head of Department, who has ultimate responsibility for the matter. The supervisor for each transaction is named in the engagement letter that is sent out to clients at the start of the process.
Disbursements
We handle the payment of the disbursements on your behalf to ensure a smoother process. Pease note that this is not an exhaustive list, and other disbursements may be applicable to the sale of your property, depending on circumstances.
| Item | Fee (including VAT at current rate of 20% |
| Land Registry search (per title) | £3.60 |
| Leasehold seller’s pack, depending on the value of your property | Typically £120 – £600 |
| Notice of Transfer fee | If chargeable, this fee is set out in the lease. Often the fee is between £60 and £240 |
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 of my FREEHOLD property take?
How long it will take from you accepting the buyer’s offer to receiving payment will depend on a number of factors. The average process takes between 10-12 weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if your buyer is a first time buyer it could take 10 weeks, but if the buyer is also selling an existing property as part of a chain, it could take around 12 weeks.
Stages involved in the PROCESS (freehold property)
The precise stages involved in the sale of a residential property vary according to the property and the circumstances. However, the main stages are summarised below:
- Take your instructions and give you initial advice
- Verify your identification and address
- Contact buyer’s solicitors
- Prepare and issue contract documents
- Obtain provisional redemption statement from your mortgage lender (if relevant)
- Respond to any enquiries from buyer’s solicitor
- Send final contract and Transfer Deed to you for signature
- Agree completion date (date on which funds change hands)
- Exchange contracts and notify you that this has happened
- Obtain final redemption statement from your mortgage lender (if relevant)
- Arrange for all monies needed to be received from buyer
- Complete sale
- Deal with payment of estate agent fees, settlement of outstanding mortgage if there is one, and any other fees or disbursements
- Send net proceeds to you
How long will the sale of my leasehold property take?
How long it will take from you accepting the buyer’s offer to receiving payment will depend on a number of factors. The average process takes between 10-15 weeks.
It can be quicker or slower, depending on the parties in the chain. For example, if your buyer is a first time buyer it could take 10 weeks, but if the buyer is also selling an existing property as part of a chain, it could take around 15 weeks. However, if you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, between 4 and 6 months. In such circumstances, additional charges would apply.
Stages involved in the PROCESS (leasehold property)
The precise stages involved in the sale of a residential leasehold property vary according to the property and the circumstances. However, the main stages are summarised below:
- Take your instructions and give you initial advice
- Verify your identification and address
- Contact buyer’s solicitors
- Prepare and issue contract documents
- Obtain provisional redemption statement from your mortgage lender (if relevant)
- Obtain freeholder and management company information pack
- Respond to any enquiries from buyer’s solicitor
- Send final contract and Transfer Deed to you for signature
- Agree completion date (date on which funds change hands)
- Exchange contracts and notify you that this has happened
- Obtain final redemption statement from your mortgage lender (if relevant)
- Arrange for all monies needed to be received from buyer
- Complete sale
- Deal with payment of estate agent fees, settlement of outstanding mortgage if there is one, and any other fees or disbursements
- Send net proceeds to you
* Our fee assumes that:
- This is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction;
- In the case of a leasehold property, it involves the assignment of an existing lease and not the grant of a new lease;
- All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation;
- No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.