Your Conveyancer’s Residential Property Fees for clients contacting us directly. All fees and any additional outlays will be fully listed in the terms of business letter sent to you at the start of any transaction.
The following is a general guide to the fees and outlays for an average sale and purchase transaction:
The legal fee is only one part of the cost of dealing with a sale or purchase transaction. We will clearly explain our legal fee for each transaction as well as the expenses and outlays incurred. These costs will be clearly shown in any quote and in the terms of business letter sent to clients at the start of any transaction. We believe this will enable our clients and potential clients to properly understand the costs that will arise during a transaction together with any additional fees that may also arise.
Whilst we charge a fixed conveyancing legal fee, there are occasions where the costs might increase in line with what is outlined in the terms of business letter. When this happens, we will explain how and why.
Our fees cover all of the work required to complete the purchase of your property. We will deal with missives, examining title deeds and searches, raising necessary observations, dealing with all funding from you, liaising with any mortgage company, drafting any relevant security documents and ordering loan funds and registering any deeds at Registers of Scotland.
In order to provide an indication of the likely costs of buying a house, we will give an example based on a purchase price of £200,000. Once you have told us the price you expect to pay we will send you a detailed quote of all the costs involved.
*Land & Buildings Transaction Tax (LBTT) is a tax payable for any purchase where the price is more than £145,000. LBTT would be payable on this purchase – in this case it would be a charge of 2%. This is shown in the above example.
You should also be aware that first-time buyers have a higher nil rate band of £175,000 which means that a first-time buyer purchasing a property for this price would pay £100.00 in LBTT.
LBTT increases as the price of the house increased.
ADS may also be applicable if you at the transaction date you are on the title to more than one property.
To work out how much LBTT you’ll have to pay, please use the Revenue Scotland LBTT Calculator.
Additional legal fees as detailed in your terms of business letter can include the following examples of why the additional fee is applicable (all fees are plus VAT):
Our fees cover all of the work required to complete the sale of your current property. This includes dealing with your offer and subsequent missives, ordering searches, repaying any secured loans, registering any deeds at Registers of Scotland and paying any funds to you.
In order to provide an indication of the likely costs of selling a house, we will give an example as follows:
Additional legal fees as detailed in your terms of business letter can include the following examples of why the additional fee is applicable (all fees are plus VAT):
Our fees cover the work required to complete the sale of your property. This includes preparing the draft contract, obtaining documents from the land registry, dealing with any additional enquiries raised by the buyer’s solicitor, redeeming any existing mortgages and transferring any sale proceeds due to you following completion.
Our fees cover the work required to complete the purchase of your property. This includes reviewing the legal pack, raising enquiries, submitting and reviewing searches, reviewing your mortgage offer and registering the transfer with the land registry following completion.
Note: The fees set out above are estimates and you should enquire with us further for a detailed breakdown of costs. Additional fees may be charged in line with our Terms of Business in respect of additional work which may arise during the course of the transaction. Disbursements may change during your transaction and you will be responsible for any increase in costs should they occur.