It is never too early to have a chat with one of our solicitors if you are thinking of moving home, whether relocating, finding more space for the expanding family or downsizing….
At A C White Solicitors we understand that transacting with property is one of the most stressful processes you will encounter during your lifetime.
We hope to make matters easier for you by handling your transaction in a professional and organised manner.
Feel free to contact us at the earliest opportunity to advise that you are marketing your property. That will allow us to prepare for receipt of your successful offer!
Property Sale - FAQs
Other than the usual client contact details, when selling your property we require information from you regarding:-
- Your title deeds – are these kept at home? With your current lender?
- Your lender’s name and account number.
- Details of any other secured loans.
- Information regarding any structural alterations you have carried out to your property.
- Guarantees for any specialist work carried out to your property.
It is very common for the estate agent to be paid on completion of the sale transaction. We will settle with your estate agent from the free proceeds of sale, if that falls within the terms of your contract with them.
We have an obligation to ensure that all secured borrowing is redeemed at settlement. From the sale price, we will attend to the repayment of the mortgage and any other secured loans.
Provided there is sufficient equity in your property to cover our fee, we are happy to deduct our fee and outlays from your sale proceeds.
Unfortunately, that is a tricky question. Fundamentally, it depends on the position of the purchaser. Are they a first-time buyer? Do they require a mortgage? Is their offer subject to sale? At A C White Solicitors, we will use our best endeavours to keep you regularly updated regarding the progress of missives.
As the seller you are required to sign the Disposition, being the transfer deed. We shall ensure that is correctly drafted by the purchaser’s solicitor before arranging an appointment with you to have it signed in time for settlement.
Property Sale - Guide to Fees
Ordinarily this will be inclusive of talking you through the sale process, working through the missives with you and advising you on the terms of the Scottish Standard Clauses, concluding the contract, answering the purchaser’s solicitor’s observations, corresponding with your lender (if any) in relation to the repayment of your mortgage, ordering the necessary conveyancing searches, approving the title documentation, settling the transaction, discharging your mortgage (if any), corresponding with your estate agent and releasing the sale proceeds to you.
While the exact fee will be dependent on the value and complexity of the transaction, we do at outset try to give you an all-inclusive estimate of fees with no additional costs for correspondence and dealing with Lenders, except where these haven’t been disclosed in advance by the client.
We understand how stressful buying and selling can be and will always try to answer your queries promptly by telephone or personal meeting.
As an example
In a sale transaction a sale price of £150,000, the fee might be £750 plus VAT of £150, however as part of conveyancing transactions, there are also necessary outlays to consider.
These would be in this instance:
- £80 for Registration of the Discharge of Standard Security (if applicable);
- £20 for an Advance Notice for the Disposition;
- £10 for an ID check.
Approximately £185 for the necessary Property Enquiry Certificate, Legal Report and Coal Report.
- If your property is subject to first registration, you may also require a Plans Report with a cost of £120.