Selling a Freehold Property

Understand the process of selling a freehold property with Tinn Criddle

The sale of freehold residential property

Our fees cover the work necessary to complete the sale of a residential property on your behalf including the redemption of any mortgage(s) secured against the property (if applicable). They are based on hourly rates and further details are contained within our Client Information Booklet.

A detailed fee quote based on your particular transaction can be provided upon request and will be provided at the outset of any transaction on which we are acting. In the event that we need to alter the original quotation provided, we would let you know, straight away.

Fees for transactions of a routine nature:

Sale price	No Mortgage	With Mortgage
£0-£99,999	£843.00 (£1,101.60 inc. VAT)	£899.00 (£1,078.80 inc. VAT)
£100,000 – £124,999	£899.00 (£1,078.80 inc. VAT)	£984.00 (£1,118.80 inc. VAT)
£125,000 – £149,999	£956.00 (£1,147.20 inc. VAT)	£1,012.00 (£1,214.40 inc. VAT)
£150,000 – £199,999	£1,012.00 (£1,214.40 inc. VAT)	£1,096.00 (£1,315.20 inc. VAT)
£200,000 – £249,999	£1,096.00 (£1,315.20 inc. VAT)	£1,152.00 (£1,382.40 inc. VAT)
£250,000 – £299,999	£1,124.00 (£1,348.80 inc. VAT)	£1,208.50 (£1,450.20 inc. VAT)
£300,000 – £349,999	£1,180.00 (£1,416 inc. VAT)	£1,293.00 (£1,551.60 inc. VAT)
£350,000 – £399,999	£1,293.00 (£1,551.60 inc. VAT)	£1,349.00 (£1,618.80 inc. VAT)
£400,000+	On Enquiry	On Enquiry

All of the above costs are subject to VAT at a rate of 20%.

Other fees and disbursements will include:

Official copy Title and Filed Plan fees: £7.00 per document (plus £1.40 VAT);

Obtaining official copy documents: £7.00 per document (plus £1.40 VAT);

Telegraphic transfer fee: £15.00 (plus £3 VAT) per transfer;

Money Laundering search fee: £30 (plus VAT) per person.

(Disbursements are costs related to your matter that are payable to third parties, such as search fees which we handle on your behalf to ensure a smoother process.)

Stages of the process

The precise stages involved in the sale of a residential property vary according to individual circumstances. Below are some of the key stages which a transaction would usually include:

Obtaining details of the transaction and providing you with a detailed fee quotation;
Taking your instructions and giving you initial advice on the transaction;
Carrying out identity and finance checks (as required);
Providing you with the Protocol documents (i.e. Property Information and Fittings and Contents Forms) for completing and returning and obtaining any Title Deeds and documents you may hold;
Contacting your existing Lender to obtain indicative redemption figures;
Obtaining copies of your property Title from H.M. Land Registry (together with any ‘filed’ documents) in order to draft the Contract papers and submitting the same to the buyer’s solicitor;
Replying to enquiries raised by the buyer’s solicitor and agreeing the terms of the Contract;
Having you execute the engrossment Contract and Transfer Deed;
Agreeing the Completion Date;
Exchanging Contracts and notifying you that this has happened. This will create a binding Contract between you and the buyer and the completion date will be formally agreed; and
Completing the sale, redeeming any existing mortgage (if applicable), agreeing the Estate Agents’ fees with you and settling the same (if applicable) and transferring the net proceeds of sale due to you.

How long will the property sale take?

The timescale from once you have accepted an offer until legal completion will depend on a number of factors. On average the process takes between 6 and 12 weeks.

It can be quicker or slower, depending on the position of other parties in the chain and whether, for example, the property is a new build property.