At Margetts & Ritchie we offer a specialist and personalised service from highly experienced Solicitors. Your work will be carried out by either Graham Ritchie or Jonathan Ritchie, over 70 years experience of residential conveyancing experience between them. We do not delegate work to junior members of staff.
We are transparent with our costs. In most cases we will work on a fixed fee basis so that you know what the fees will be from the outset of the transaction.
Every transaction is different and we would recommend that you contact us to discuss your matter in detail. We will then be able to provide you with an accurate estimate for your property transaction.
We do not pay referral fees to estate agents our sole concern is your best interests. We are pleased to see our clients personally at our offices.
Our Fees
The fees are likely to be in the range of £750 to £2,000 plus VAT and genuine disbursements.
Please note that if the property you are selling is Leasehold there will be additional fees payable.
If something occurs during the transaction which will involve additional work we will discuss any change in fees with you and agree a way forward.
Factors that may lead to a change in our fees include:
- If a legal title is defective
- If all or part of the property is unregistered
- There are additional charges or restrictions registered against the property’s title
Disbursements
These are third party costs which are applicable to your transaction.
Fees for office copy entries £6.00 for a standard freehold title register and plan.
We need to obtain any additional documents referred to in the official copies these will cost £3.00 each.
If you are selling a leasehold property or a freehold property subject to an estate rentcharge we may need to obtain an information pack from the freeholder and/or managing agent. The cost of these varies. We will contact the freeholder and/or managing agent on your behalf and ascertain the cost.
What is not included
Telegraphic Transfer fee £15.00 plus VAT per transfer.
How long will the sale take?
At the start of a transaction we will not be able to confirm dates for exchange of contracts or completion of your sale. The circumstances of each matter are different. The time it will take from you accepting an offer until you move house will depend on a number of factors, most of which will be outside our control. The average transaction takes between 8 and 12 weeks.
Factors which can influence the speed of a transaction include:
- How quickly you provide us with any information we have requested from you
- The speed of the responses we receive from other parties involved in the transaction
- Any unforeseen circumstances
- If the property is leasehold how quickly the freeholder/ managing agent provides the leasehold information pack
Generally our advice is not to discuss or try to agree completion dates until all parties are in a position to proceed to exchange of contracts. Completion dates are only confirmed once contracts are exchanged.
The Key Stages of a Sale
The work we do consists of the following:
- Carry out Identification and Money Laundering checks
- Obtain copies of the title documents for the property
- Prepare and submit contract documentation to your buyer’s solicitors/licensed conveyancers .
- Keep you updated at all stages of the transaction.
- Take your instructions and advise you of any enquiries raised by the buyers solicitors
- Obtain your signature to the contract
- Liaise with you and associated parties regarding a completion date and undertake exchange of contracts
- Approve the Transfer Deed and obtain your signature to it
- Reply to requisitions raised by your buyer’s solicitors
- Undertake completion arrangements and release of keys with the estate agents
- On completion make the necessary payments in relation to estate agency fees and other third parties as applicable
- Redeem any mortgage
- Account to you for the balance funds
Please note that we do not provide taxation advice. You will need to seek specialist advice regarding any tax implications of a transaction.