Kings Solicitors Residential Conveyancing Standard Fee Information (Sale)

This information sheet accompanies the fee information given to you for undertaking the conveyancing services you require in relation to your proposed sale of a residential property. We feel it is important to be clear from the outset about costs so that our clients can budget and plan accordingly. The information given in our letter is for a straightforward transaction and it is important to us that as many transactions as possible fall within the standard fee. However, on occasion, a small minority of matters will incur extra charges due to unforeseen complications or unusual requirements at which point we owe a further duty of care to our clients to inform and advise them as to the implications, including costs, of these developments.

What is included in our standard fee

All the usual letters, telephone calls, attendances upon you and third parties, faxes and emails we would expect during the course of a straightforward transaction and which includes the following:

1. Sending out the Client Care Pack and Property Information Forms for you to complete and return.
2. Obtaining up-to-date copies of the Register and Filed Plan relating to the property from the Land Registry (to include the Leasehold Title, where applicable) plus any other available documents referred to in the Register and Title documents.
3. Liaising with and advising you on the Property Information and Fittings and Contents Forms and your replies therein; drafting the Contract and preparing the Contract Pack.
4. In the case of Leasehold properties, writing to the Freehold Landlord and/or their Managing Agent to obtain the Leasehold Information Pack together with confirmation of their requirements and costs (which are payable by you).
5. Sending the draft Contract pack to the Buyers’ solicitor together with all relevant enclosures.
6. Dealing with any additional enquiries raised by the Buyers’ solicitor.
7. Advising you on and obtaining any required draft Indemnity Insurance Polices for approval by the Buyer’s solicitor for lack of Building Regulations Certificates/Planning Permissions etc.
7. Obtaining approval of the draft Contract and obtaining your signature(s) to this.
8. Following a consultation with you to agree a completion date, formally exchanging Contracts with the Buyers’ solicitor.
9. Approving the Transfer Deed provided by the Buyer’s solicitor.
10. Replying to the Buyers’ Requisitions on Title and providing an undertaking in standard form to discharge any Mortgages on completion.
11. In the case of Leasehold properties, calculating the apportionments and providing a completion statement to the Buyer’s solicitor for approval.
12. Preparing a completion statement to confirm the distribution and movement of monies in and out during the course of the transaction, plus a final bill to you.
13. Completing the sale, including sending monies up the chain for any related purchase.
14. Paying your estate agents’ bill from monies held on your client ledger.
15. Sending you the net sale proceeds (if applicable)
16. Sending written confirmation to all parties that the sale has completed.

What is not included in our standard fee

As no two transactions are alike, the following list is designed to give an indication of instances where a transaction may go over its original costs estimate. Please be advised however that this list is not exhaustive. If additional work is required, the extra costs will be agreed in advance between you and us. We will endeavour to keep these additional costs proportionate and fair and we will give you a warning as soon as the costs look likely to be exceeded.

1. Where the Title to the property is defective and where additional correspondence and enquiries with you, your Buyers’ solicitors, Lender (if applicable) and any other third party is necessary.
2. Where we have to draft additional documentation such as a Statutory Declaration to support the Title or use of the property in order to satisfy your Buyers. A Statutory Declaration is charged at an additional £95.00 plus VAT plus the fees for the additional correspondence and enquiries resulting therefrom.
3. Where there is an existing Solar Panel Contract and Feed Tariff Agreement and we are required to deal with the transfer of these to the Buyer, or where we need to be involved any other dealings the with Solar Panel company or its agent.
4. Where there is a conservatory at the property that does not fall within the scope of “Permitted Development” and we are required to deal with issues arising from lack of Planning Permission/Building Regulations.
5. Where you are selling as an Attorney or Executor and where there are additional parties involved in the process with whom we will need to correspond and take instructions.
6. Writing to your Lender to obtain a redemption statement.
7. Sending redemption monies to the first-named Lender on the Title Register to redeem your Mortgage.
8. Additional work arising from dealing with more than one Lender.
9. Additional work arising if any Lender is not a member of the Council of Mortgage Lenders.
10. Additional work arising should the sale proceeds not be sufficient to discharge all Charges/Mortgages against the property.
11. Where you wish us to expedite the matter.
12. Where you ask us to carry out any task that would ordinarily be undertaken by a third party.
13. If your Buyers want access to the property between exchange of contracts and completion and you agree; negotiating the terms of access and drafting such documents as a key undertaking.
12. Dealing with delayed completion, for example where your Buyer fails to send the completion monies by the time set in the Contract (you may be entitled to recompense if this occurs).
13. Additional work arising from a failed completion. This is very rare and where it is not your fault you will be entitled to recompense.