For most of us our property is the biggest financial investment of our lives and with that much at stake it’s important to use a conveyancer with experience of the quick turnarounds which are essential when selling your property in auction. As accredited members of the Law Society’s Conveyancing Quality Scheme our fixed fee auction sale conveyancing solicitors have helped thousands of clients to make the right move providing a fast, friendly and cost effective conveyancing service.
A broad outline of the legal work involved in an auction sale includes:
- Taking your initial instructions.
- Obtaining the conveyancing searches which will form part of the auction pack
- Compiling the replies to the standard conveyancing enquiries that will form part of the auction of the pack
- Preparing the special conditions that will apply to the auction contact
- Submitting the auction pack to the auction house and dealing with any pre auction enquiries raised by interested parties
- Following a successful auction replying to any requisitions on title and agreeing the form of the Transfer Deed to the Buyer
- Completing the sale and discharging any mortgage(s) affecting the property
- Accounting to you in respect of the net proceeds of sale.
Our conveyancing fees range from £600 to £1,800 plus VAT (currently 20%) depending on the type of property involved, its location and your own personal circumstances. We’d be happy to provide you with a detailed breakdown of these costs for your sale – just give us a call now on 01902 577771 or fill in the form here. The quotation is totally free and without any obligation.
To give you an idea of the various costs involved we’ll take the example of leasehold registered residential property selling for £148,689 (according to Land Registry figures that’s the average price of a property in Wolverhampton as of July 2018).
Solicitor’s Fees £995 plus VAT
These cover the cost of the legal work involved in the production of the auction pack and completing the sale.
It usually isn’t necessary for us to attend the auction but if you want us to attend with you then an additional fee will be payable dependent on the location and timing of the auction – ask us for details.
You may want to ask us to include a provision in the auction contract requiring any successful bidder to refund you your solicitor’s fees on completion of the sale.
Bank Transfer Fee £20 plus VAT
We make this charge only where we need to send money electronically as part of the conveyancing transaction
Referral Fee £0.00
We don’t believe in buying business – clients choose to use us because they like the quality of our work, the speed of our service and the ability to talk directly with the solicitor dealing with their purchase – so you don’t have to pay us more so that we can pay referral fees to third parties
Mortgage Redemption Fee £0.00
Unlike other conveyancing firms we don’t charge you any extra if we also act for a mortgage lender who is member of UK Finance [https://www.ukfinance.org.uk/about-us/uk-finance-members/] – all of the major high street banks and building societies are members.
These are the fees that have to be paid to third parties in respect of searches and official copy title documents which are a necessary part of the conveyancing process and form part of the auction pack:
Land Registry – official copies of title register and plan – £6.00
Local search £72.37
Mining search £32.72
Environment search £63.00
Drainage search £61.94.
Search fees vary dependant on the location of the property.
We’ll include a provision in the auction contract requiring any successful bidder to refund you the cost of providing the searches on completion of the sale.
Management Company Fees
If the property is located on a development that’s subject to a service charge then, dependent on the information that you are able to provide us with, we may need to raise enquiries of the management company providing the services – the fee payable to the management company for dealing with these will vary dependant on the development and we won’t know the amount of this until we have been able to consider your title papers.
Dependent on the information that you are able to provide us with, we may need to raise enquiries of your Landlord – the fee payable to the Landlord for dealing with these will vary dependant on the development and we won’t know the amount of this until we have been able to consider your title papers.
We’d love to help you make your auction sale. To find out more about our conveyancing services and to get your FREE personalised conveyancing quote CALL us now on 01902 577771 or fill in the form here