Real Estate Pricing
Our Professional Fees for acting on your behalf in relation to a residential and commercial property.
Our average professional fee for a simple freehold purchase is approximately £1,250 with no mortgage, and for a leasehold property of 1 million with a mortgage (where we act for the lender also) is generally between £2,000 – £3,500.
Please note that our fees are exclusive of VAT and disbursements.
In order to craft a letter of claim with precision, a thorough analysis of the case is imperative. This entails a meticulous examination of documentary evidence and consideration of potential witnesses. The gathering of such information is essential to construct a robust and well-founded claim.
Regarding the matter of costs, we are prepared to provide a precise estimation upon receipt of the requisite documentation and subsequent initial consultations with you. Additionally, we are open to the prospect of negotiating fixed fees for the preparation of the letter of claim, and these arrangements will be discussed on a case-by-case basis.
Our fees, as well as the majority of disbursement costs, are subject to Value Added Tax (VAT) at the current rate of 20%.
Please note that our fees are exclusive of VAT and disbursements.
Karam,
Missick &
Traube
We pride ourselves on the quality of our advice, delivered by lawyers from diverse, multicultural backgrounds who are fully committed to providing the highest level of service to our clients.
- Conveyancing
Conveyancing process
Take instruction from you depending on a transaction, sale or purchase;
Send our engagement letter for your signature;
Carry our AML checks as required by Anti Money Laundering Regulation 2017;
Contact lender’s solicitors if needed
Request money on account and commission searches;
Raise necessary enquiries to seller’s solicitors
Provide you with our advice on all documents and information received and prepare a report on title;
Give you advice on condition of mortgage offer (if any)
Send final contract for your execution or seek express to sign contract on your behalf;
Agree a completion date
Exchange contracts and notify you the same
Draft the transfer and arrange for your execution prior to completion
Send you completion statement detailing funds required to complete
Obtain pre-completion searches from seller’s solicitors
Arrange funds that needs to be received from you and/or lender
Completion
Deal with post-completion stage including making SDLT payment to HMRC
Deal with application for registration at HM Land Registry
- Disbursements
Disbursements are costs which we pay to other organisation or third parties as part of a property transaction
At Karam, Missick & Traube LLP, we pride ourselves on being as transparent as possible in this regard during the conveyancing process.
Below are the most common disbursements which you can expect to pay in a standard conveyancing transaction:
Searches
When you buy a property or remortgage your existing property, we undertake certain searches on the property, including Local Authority Search, Environmental Search, Water and Drainage search. These searches reveal information about property and land. Other common searches in England and Wales which we undertake are chancel repair checks and mining searches.
Search fees: approximately £350 plus VAT
Stamp Duty Land Tax
SDLT is a tax levied by the HMRC on the purchase of residential and commercial property or land. The tax amount is dependent on the purchase price. You can find out more about this tax, how much it will cost you using HMRC calculator on the website.
Land Registry Fee
Every land or property transaction in England and Wales must be registered at HM Land Registry. The HM Land Registry charges a mandatory registration fee to register a change of ownership, with the fee applied on a sliding scale depending on the price of the transaction or level of the mortgage. Please check the Land Registry website for more information on fees.
Once we complete on a purchase transaction, we duly submit a registration application to the Land Registry together with the supporting documents.
Land Registry fee: £20 – £910
Land Charges (bankruptcy) search:
We carry out searches against the name of all buyers and/or borrowers in the Land Charges register. This search will determine if anyone involved in the purchase is bankrupt, or is about to be made bankrupt in a pending court action.
Land Charges (Bankruptcy) search: £2.00 per search
Official copy entries and filed plan
As standard practice, a solicitor acting for a seller provides an official copy of the title register and title plan to a purchaser’s solicitor at the outset of the transaction. We obtain these documents online using the Land Registry portal.
• Official Copy entries and filed plan: £3.00 (per copy)
Miscellaneous
| Search Fees (approximate) | £350 + VAT |
| Land Registry Fee | £20 - £910 |
| Official Copy entries and filed plan | £3.00 (per copy) |
| Chaps Charge | £25.00 |
| Lawyer Checker | £12.00 |
| Priority Search | £3.00 (per search) |
| Land Charges (Bankruptcy) search | £2.00 (per search) |
| AML checks on a Client (individual) | £8.00 |
| Notice of Charge/ transfer (leasehold only) | £50 - £250 |
