Conveyancing

At Dixon Stewart our priorities are to progress your property transaction as quickly as possible and ensure that you are kept fully informed throughout. 

Our team has over 70 years of collective experience in delivering high quality property work.

We know moving house can be a stressful time. Our many years of experience and expertise will lift that stress.

Residential Sale stages

The precise stages involved in the sale of a residential property vary according to the circumstances. However, below are some key stages of the process:

  • Take your instructions and give you initial advice including a written estimate of costs and disbursements
  • Obtain evidence of identity and address from you to carry out Anti Money Laundering searches
  • Obtain title documents from the Land Registry
  • If Leasehold – Obtain Managing Agent/Freeholders replies to enquiries *
  • Respond to supplemental enquires raised by the conveyancer for your buyer
  • Prepare draft contract and supporting paperwork and submitting the same to the conveyancer acting for your buyer
  • Agree the form of contract and transfer deed with the conveyancer acting for your buyer
  • Discuss with you your requirements for a completion date
  • Exchange contracts
  • If the property is mortgaged, we will contact the lender for a repayment also known as redemption figure
  • Prepare completion statement setting out the financial aspects of the transaction
  • Once your sale monies have arrived into our bank account we will telephone the estate agents so that they can release the keys to the property
  • We will pay estate agents fees as agreed by you
  • We will repay the mortgage registered against the property
  • We will account to you with any balance of funds due and transfer the title to the new owners.

Leasehold properties *

Managing agents charge a fee for providing replies to standard enquiries relating to the management of a building or estate. These fees are not within our control, as they are set by the managing agent.

Residential Purchase stages

The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below are some key stages of the process:

  • Take your instructions and give you initial advice including a written estimate of costs and disbursements
  • Obtain evidence of identity and address from you to carry out Anti-Money Laundering searches
  • Check finances are in place to fund purchase
  • Receive and advise on title documentation and other contract documents
  • Carry out searches and obtain further planning documentation if required
  • Give you advice on all documents and information received
  • Go through conditions of your mortgage offer
  • Send contract to you for signature as well as the Transfer Deed, Stamp Duty Land Tax Return and supporting documentation
  • Discuss with you your requirements for a completion date
  • Exchange contracts
  • Contact mortgage lender to arrange for monies to be received
  • Prepare completion statement setting out the financial aspects of the transaction
  • On day of completion (date which you own the property) we will transmit the purchase monies to the sellers’ solicitors
  • Deal with the payment of Stamp Duty Land Tax (SDLT)
  • Deal with the registration of your property and mortgage at the Land Registry.

Leasehold properties – additional disbursements (payments to third parties)

  • Notice of Transfer Fee payable to the landlord/management company £50-300
  • Notice of Charge fee payable to the landlord/management company£50-£300
  • Deed of Covenant Fee. This is provided by the management company for the property and can be difficult to estimate. Often is between £50 and £200
  • Certificate of Compliance fee. To be confirmed upon receipt of the management information and can range between £50 and £200.

Payments vary from property to property. Once we have sight of your documents, we will be able to give you a more accurate figure.

How long with the process take?

From the time which the offer is accepted and you have also confirmed your instructions to us the average transaction takes between 8 and 12 weeks.
There are many different factors involved in the buying and selling of property. For instance, the number of parties involved in any chain of transactions. First time buyers, new builds and any lease extensions which are needed all add to the process even if your transaction is fairly straight forward.

Re-mortgage

We can deal with the work required to complete the re-mortgage of your home including the registration at the Land Registry.

General disbursements

  • Local Search this varies from one Local Authority to another but usually in range of £300 to £500
  • Pre-completion search £3.60 inc VAT per title searches
    Bankruptcy/Land Charges search £2.40 inc VAT per name searched
    Office Copies £9.60 inc VAT
  • Same day transfer of monies £24 inc VAT
  • Online ID check £11.94 per person.

Stamp Duty Land Tax (SDLT) this is charged depending on the value of the property purchased click this link for more information https://www.gov.uk/stamp-duty-land-tax

For Land Registry fees for registering your purchase please see link https://www.gov.uk/guidance/hm-land-registry-registration-services-fees

Assumptions

Our standard quoted fixed fee assumes that:

  • It is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in the title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
  • If a leasehold property – that this is the assignment of an existing lease and is not the grant of a new lease or which requires variation
  • The transaction is concluded in a timely manner and that no unforeseen complications arise
  • All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  • No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

However, it is extremely rare that at Dixon Stewart we step outside the quoted fee even if your matter becomes more complex. We always put the service to our clients at the forefront of the delivery of our legal services.

A law firm that has been offering expert legal help and advice to individuals and businesses in and around Christchurch and New Milton for more than forty years.

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