Moving home is one of the most important decisions you are likely to make and at times, the most stressful. Here at Emin Read we understand this and try to deal with all legal aspects of your conveyancing process, accurately and in the most cost effective way for you.
We can offer a bespoke service for each and every client, as no property transaction is ever the same. We provide estimates based on the information you provide to us.
As a CQS Member we will ensure that we:
- Explain in a clear manner, the steps involved in the sale and purchase process
- Explain to you what you can expect from us, and what to do should you be dissatisfied
- Inform you, in detail, of the costs that will be involved
- Keep you informed of progress
- Be polite and professional, at all times
- Will inform you of any problems that should arise, as soon as we are aware of them
- Ask for your feedback on our service
Disbursements on a Freehold Sale (fees will vary depending on the geographical area that you are selling)
- Bank Transfer fee
- HMLR Official Copy Entries
Disbursements on a Freehold purchase (fees will vary depending on the geographical area that you are purchasing, and the price of the property)
- Stamp Duty Land Tax (SDLT)
- Local, Drainage & Environmental Search fees
- Land Registry fee (to register you as the new proprietor)
- Land Charges Search
Key Stages of a Freehold Sale *There may be additional stages if you are selling a leasehold property
- Seller and Purchaser instruct Solicitors and details are passed to each solicitor by the Estate Agent (if applicable)
- Initial Letter of Engagement sent to client requesting evidence of identification (ID) and signed instruction form to enable us to proceed
- Seller to complete a Property Information Form and a Fixtures, Fittings and Contents Form
- The draft Contract (for approval), Title documentation and property forms are sent to the Purchaser’s solicitors
- Request a mortgage redemption Figure from your lender (if applicable)
- Purchaser’s solicitors will raise enquiries on the documentation supplied
- Seller’s and their solicitor will reply to these enquiries
- Contract and Transfer sent to Seller for signature and return
- Contracts are exchanged with an agreed fixed completion date
- Purchaser will arrange payment of deposit
- Seller will make arrangements to move out on agreed date for completion and will pass all keys to the Estate Agent (if applicable)
- On completion of the transaction, the Seller’s solicitors will send a Transfer to the Purchaser’s solicitors, pay the Estate Agent (if applicable), pay off any outstanding mortgage, deduct their fees and send any proceeds of sale to the Seller.
Key Stages of a Freehold Purchase *There may be additional stages if you are purchasing a leasehold property
- Seller and Purchaser instruct Solicitors and details are passed to each solicitor by the Estate Agent (if applicable)
- Initial Letter of Engagement sent to client requesting evidence of identification (ID) and signed instruction form to enable us to proceed
- Contract pack is received from Seller’s solicitors – searches are then put in hand and enquiries are raised on the information received from the Seller’s solicitor
- Seller’s solicitor to reply to enquiries
- Await Mortgage Offer from lender (if applicable)
- Once all the search results are received, arrangements will be made for the Purchaser to sign the Contract, Transfer and any other paperwork, and request that any deposit is paid to them, ready for exchange of contracts
- Contracts are exchanged and a completion date is fixed
- Deposit is sent to the Seller’s solicitors
- Mortgage Advance requested from lender (if applicable) and final searches conducted
- Completion statement sent requesting any balance of funds in readiness for completion
- On completion, the purchaser will collect keys from the Estate Agent (if applicable)
- Transfer and deeds received from Seller’s solicitors, Stamp Duty Land Tax is paid and application submitted to Land Registry to register the client as the new proprietor
Stamp Duty Land Tax
The figure payable, will depend on the purchase price of the property. You can calculate the amount you will need to pay by using the HMRC’s website: https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro or, if the property is located in Wales, by using the Welsh Revenue Authority’s website: https://gov.wales/land-transaction-tax
We hope you find the above information useful but if you have any questions at all, we would be more than happy to discuss the process with you, and our contact details can be found under Contact Us at the top of our page.
Please refer to our Charging Policy for fees in relation to your conveyancing requirements, which can be found by clicking on the About us tab at the top of this page.
