Sale of a residential property

Legal fees charged by K&K Solicitors

The legal fees set out below are charged on the basis of fixed fees

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Additional fees charged by K&K Solicitors

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* Fee payable if there is more than one mortgage or restriction to discharge on completion

Fees payable to third parties (‘disbursements’)

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Work included and key stages

The precise work and stages involved in the sale of a residential property vary according to the circumstances. However, we have set out the key stages involved in a typical sale transaction:

  • Take your instructions and give you initial advice.

  • Check the title of the property you are selling.

  • Prepare documents, the contract of sale and deeds relating to your sale.

  • Dealing with questions and enquiries raised by your buyer(s)’ solicitors.

  • Reporting and providing information to you relating to the property you are selling.

  • Exchanging contracts following any necessary negotiations on the terms.

  • Approving the transfer deed from the buyer(s)’ solicitors.

  • Completing your sale and accounting to you for the proceeds or receiving from you any monies required to complete the sale.

  • Dealing with all post-completion matters, particularly repaying any outstanding mortgages or loans.

Services excluded


Our service will not include any of the following:

  • Advice on the value of the property.

  • A physical inspection of the property.

  • Advice on any planning implications unless instructed to do so which may be subject to additional charges.

  • Checks on the property to ensure that it has been built in accordance with any planning permissions granted.

  • Advice on any search result findings that identify contaminated land, fracking sites, or other environmental issues.

  • Advice on tax or other accounting matters.

 

Approximate/ average timescales

 

How long it will take from the date you instruct your solicitor until the sale is completed, will depend on a number of factors. However, the average process takes around 6 to 8 weeks.

It can be quicker or slower depending on the parties in the chain and the efficiency of third parties involved in the sale such as the buyer’s solicitors, the solicitors representing other buyers and sellers in the chain, your buyer’s bank if they are taking out a mortgage, search providers and the relevant local authority to conduct your buyer’s local search.

 

Factors that could increase costs

 

In some circumstances we may increase our fees to account for additional time, work or skill required to meet your instructions. Examples include:

  • If there is a defect in the property title which requires remedying prior to completion.

  • If we are required to discharge more than one mortgage or loan on the property.

  • If we are required to obtain retrospective approval to any alterations to a property or obtain an insurance.

  • indemnity policy in relation to any problem concerning the transaction.

  • If a chief rent or ground rent is payable and you do not provide an up to date rent receipt.

  • If there are any material factors undisclosed by you.

  • If there is a material change in your instructions during the course of the transaction.

Purchase of a residential property

Legal fees charged by K&K Solicitors

The legal fees set out below are charged on the basis of fixed fees.

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Additional fees charged by K&K Solicitors

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Fees payable to third parties (‘disbursements’)

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* The number and nature of searches that you will require may vary depending on the property and/or any mortgage lender.

** We will be able to confirm your exact fee once we have specific information about your purchase.

*** These fees vary from property to property and can sometimes be significantly more than the ranges given. We can give you a more accurate figure once we have sight of your specific documents. You should also be aware that ground rent and service charges are likely to apply throughout your ownership of the property.

**** If we are not on the panel of your chosen lender, we may engage the services of a third party firm to act for your lender.

Work included and key stages

The precise work and stages involved in the purchase of a residential property vary according to the circumstances. However, we have set out the key stages involved in a typical purchase transaction:

  • Take your instructions and give you initial advice.

  • Check finances are in place to fund the purchase and contact the lender's solicitors if needed.

  • Receive and advise on contract documents.

  • Carry out searches.

  • Make any necessary enquiries of seller's solicitor.

  • Give you advice on all documents and information received.

  • Go through the conditions of mortgage offer with you.

  • Check the title of the property and prepare the document to transfer ownership to you.

  • Send the final contract to you for signature and ask you to pay the agreed deposit to us so that contracts can be exchanged.

  • Agree a completion date (date from which you own the property).

  • Exchange contracts and notify you that this has happened.

  • Arrange for all monies needed to be received from the lender (if applicable) and you.

  • Complete purchase.

  • Deal with payment of Stamp Duty Land Tax.

  • Deal with application for registration at Land Registry.

  • Notify you and your lender (if applicable) of registration once confirmed.

Services excluded

 

  • Our service will not include any of the following:

  • Advice on the value of the property.

  • Advice on the suitability of your mortgage or any other financial arrangements.

  • A physical inspection of the property.

  • Advice on any planning implications unless instructed to do so which may be subject to additional charges.

  • Checks on the property to ensure that it has been built in accordance with any planning permissions granted.

  • Advice on any search result findings that identify contaminated land, fracking sites, or other environmental issues.

  • Advice on tax (other than SDLT) or other accounting matters.

 

Approximate/ average timescales

 

  • How long it will take from instructing your solicitor until you can move into your house will depend on a number of factors. However, the average process takes around 6-8 weeks.

    It can be quicker or slower depending on the parties in the chain and the efficiency of third parties involved in the purchase such as the seller’s solicitors, the solicitors representing other buyers and sellers in the chain, your bank if you are taking out a mortgage, search providers and the relevant local authority to conduct your local search. Factors that could increase costs

    In some circumstances we may increase our fees to account for additional time, work or skill required to meet your instructions. Examples include:

  • If your lender makes detailed instructions requiring us to deal with matters other than those relating to the title to the property.

  • If your lender instructs another conveyancer to act for them.

  • If the lender requires anything other than a simple certificate of title (a simple certificate of title is standard with most lenders) in order to send the mortgage funds to our firm.

  • If a trust document is required.

  • If there is a defect in the property title which requires remedying prior to completion.

  • If the transaction requires a new lease to be granted rather than an assignment of an existing lease.

Re-mortgage of a residential property

Legal fees charged by K&K Solicitors

The legal fees set out below are charged on the basis of fixed fees.

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Additional fees charged by K&K Solicitors

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* Fee payable if there is more than one mortgage or restriction to discharge on completion

Fees payable to third parties (‘disbursements’)

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* The number and nature of searches that you will require may vary depending on the property and/or any mortgage lender.

** We will be able to confirm your exact fee once we have specific information about your mortgage/ re- mortgage.

Work included and key stages

The precise work and stages involved in the mortgage or re-mortgage of a residential property vary according to the circumstances. However, we have set out the key stages involved in a typical mortgage/re-mortgage transaction:

  • Take your instructions and give you initial advice.

  • Obtaining your title deeds.

  • Checking the title of your property.

  • Carrying out a Local Authority search if required by your lender.

  • Acting on your mortgage lender’s instructions.

  • Explaining the terms of your mortgage to you.

  • Preparing the mortgage and other documents and obtaining your signature to them where appropriate.

  • Reporting to the mortgage company and obtaining the mortgage advance.

  • Completing the re-mortgage. This is the date when the old mortgage will be repaid and the new mortgage will commence.

  • Registering the transaction with the Land Registry.

  • Forwarding the title documents to the mortgage company and accounting to you for any money held on your behalf.

Services excluded


Our service will not include any of the following:

  • Advice on the value of the property.

  • Advice on the suitability of your mortgage or any other financial arrangements.

  • A physical inspection of the property.

  • Advice on any search result findings that identify contaminated land, fracking sites, or other environmental issues.

  • Advice on tax (other than SDLT) or other accounting matters.

Approximate/ average timescales

 

  • The length of time that it will take to complete your mortgage or re-mortgage will depend on a number of factors. However, the average process takes around 2 - 4 weeks.

    It can be quicker or slower depending on the parties in the chain and the efficiency of third parties involved in the mortgage or re-mortgage such as your lender, search providers and the relevant local authority to conduct your local search if required.

Factors that could increase costs

 

  • In some circumstances we may increase our fees to account for additional time, work or skill required to meet your instructions. Examples include:

  • If your lender makes detailed instructions requiring us to deal with matters other than those relating to the title to the property.

  • If your lender instructs another conveyancer to act for them.

  • If the lender requires anything other than a simple certificate of title (a simple certificate of title is standard with most lenders) in order to send the mortgage funds to our firm.

  • If a trust document is required.

  • If there is a defect in the property title which requires remedying prior to completion.

 

Qualifications and experience of our team

The qualifications and experience of our team can be found under the ‘Solicitors & Lawyers’ tab of ourwebsite

Regardless of who works on your matter, they will be supervised by Kiran Phull, Director