Buying & selling your home

Buying & Selling Your Home


Buying & Selling Your Home :

Buying a Property

Buying a property is likely to be one of the largest purchases you will make; whether the property is freehold, leasehold, new build or any other type of property the process can be legally complicated and stressful. Our conveyancing specialists understand how stressful the process can be and will deal with the legal transaction in a straightforward manner so you do not need to worry.

At Hart Brown our experience covers:

  • the purchase of agricultural land
  • buying at auction
  • buy to let
  • leasehold including retirement properties
  • shared ownership

If you are purchasing agricultural land, there are many pitfalls you need to be aware of including planning constraints, tenancies and other limitations. Our specialist conveyancing solicitors will investigate the title thoroughly and will fully explain the situation to you so you can avoid difficulties when using the land in future.

If you are considering buying a property at auction you should look at the paperwork in detail before you do buy as once the hammer falls, you are obliged to purchase the property. Our specialist property specialists can investigate the title for you before the auction and raise enquiries for you which may inform your decision to purchase the property.

Buy to let properties can be a good investment; however as a landlord you have certain obligations. We regularly act for individuals purchasing buy to let properties, our property specialists will advise you on the financial implications and mortgage and any contracts you may need in place for your tenants. We can also help if you have any difficulties with your tenants in future.

If you are purchasing a leasehold property we will explain to you the terms of the lease including the covenants and restrictions. We are rigorous in our legal checks as leases can be complicated documents and any mistakes could make it difficult for you to sell the property at a later date. Retirement properties often have similar restrictions imposed on them such as the age of occupants and the ability to live independently. Before purchasing a retirement property, we will help you to fully understand what you are buying.

Purchasing a property through a shared ownership may have hidden costs. Our property specialists will make sure that you are fully aware of the immediate financial cost and any future cost.

To discuss buying a property with a conveyancing specialist, call or email us today.

 

Fees:

Our legal fees for the purchase of a freehold property:

Minimum fee: £1,194.00 including VAT at 20%.

Average fee: £1,620 including VAT at 20%.

Our legal fees for the purchase of a leasehold property:

Minimum fee: £1,860 including VAT at 20%.

Average fee: £2,220 including VAT at 20%.

The purchase of a new build property will incur an additional fee of £420 including VAT at 20%.

Our fees are calculated based upon the property purchase price and the complexity of matters that affect the property.

Our estimate of fees detailed above assumes that the transaction is straightforward, without unforeseen complexities and that:

  • the property is held under a single title at the Land Registry with no title defects;
  • one contract is submitted to one buyer;
  • the property is being purchased in your name;
  • the purchase is subject to an unconditional contract;
  • the property is acquired with vacant possession;
  • completion takes place on the date agreed in the contract; and
  • if you are buying a leasehold property, there is an existing lease (not the grant of a new lease), in an acceptable form with an effective management set up and not requiring formal variation of the provisions or an extension of the lease term.

Depending upon whether you are purchasing a freehold or leasehold property, you can also expect to pay the following additional fees:

Local search fee (estimated): £264 including VAT at 20%

Drainage search fee: £72 including VAT at 20%

Environmental search fee: £69.60 including VAT at 20%

Land Registry search fee:  £3.60 including VAT at 20%

Land Charges Registry search fee £4.80 including VAT at 20%

(Leasehold properties) – average landlord’s notice fee: £180 including VAT at 20%

Our money transfer fee for completion: £39.60 including VAT at 20%

Stamp Duty Land Tax:

The amount of SDLT you will pay depends on a variety of factors. Please click here to access HMRC’s Stamp Duty calculator.

Land Registry Fees:

These are available to view on the Land Registry website which you can access by clicking here.

What work do our fees cover? To:

  • investigate the title to the property;
  • carry out searches and check these;
  • review replies given by the seller to our enquiries;
  • for a leasehold property, review the lease, freehold title, and management information;
  • negotiate the purchase contract;
  • negotiate the transfer document;
  • consider our instructions from your lender and advise you on your mortgage offer;
  • prepare a report on the searches, title and, if relevant, lease;
  • proceed to exchange contracts and then complete the purchase;
  • calculate the stamp duty land tax, prepare and send to HM Revenue and Customs the return and the tax; and
  • register the purchase, and mortgage (if applicable), at the Land Registry.

How long can you expect your purchase transaction to take?

How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process currently takes between 8 to 12 weeks.

It can be quicker or longer, depending on the number of parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage offer in place, it could take 6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 to 4 months. In such a situation, additional charges would apply.

 

who to contact


Give it up! Give it up! Baby, Give it up!

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Tamzin Mandelli, Associate, Commercial Property Solicitor ,

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When ‘Banter’ crosses over into abuse

“It’s just bants, mate! Just bants!” If you work in any kind of environment, from an office to a building site, you’ll be familiar with the term…

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Give it up! Give it up! Baby, Give it up!

No-one has a crystal ball that can definitively tell them what the future holds.  Every decision is a risk to a greater or lesser degree.  When signing…

Tamzin Mandelli, Associate, Commercial Property Solicitor ,

Tamzin Mandelli

Has the demise of Legal Aid put justice out of reach for ordinary people?

Medical negligence (or clinical negligence as it’s known) can be utterly devastating, not just for the victim, but for the family too. At a time when you…

Mark Wisby, Associate, Clinical Negligence Solicitor Buying a Property,

Mark Wisby

Soaring fees set deadline for executors and estate planning

Controversial court fees which have been branded a stealth tax on bereaved families are expected to prompt a surge in probate applications before the hike hits.  The…

Louise Harrhy, Partner, Head of Trusts & Estates Solicitor ,

Louise Harrhy

Is there such a thing as a ‘good divorce’?

Many Resolution[1] family lawyers think so and this week is Resolution’s annual awareness-raising week Minimising the impact of conflict on children: Conflict can have some…

Vanessa McMurtrie, Partner, Family Solicitor ,

Vanessa McMurtrie

Self-driving Vehicles – who is responsible if you have an accident?

Self-driving Vehicles – who is responsible if you have an accident? The age of ‘driverless’ cars is nearly upon us. Funnily enough, it’s internet giant Google that’s…

Mark Wisby, Associate, Clinical Negligence Solicitor Buying a Property,

Mark Wisby

When ‘Banter’ crosses over into abuse

“It’s just bants, mate! Just bants!” If you work in any kind of environment, from an office to a building site, you’ll be familiar with the term…

Jane Crosby, Partner, Dispute Resolution Solicitor Buying a Property,

Jane Crosby

"I would say a big thank you to David Knapp and his team as our instruction was of an urgent nature and their efforts ensured that the purchase of our property was completed well within our required timescale."

David Knapp. Partner and Head of Residential Property