Sale and Purchase of Residential Property
Our estimated fees will normally cover all of the work required to complete the sale or purchase of property including dealing with any offers and subsequent missives, ordering searches, creating or repaying any secured loans and registering any deeds at Registers of Scotland and paying any funds to you.
However, both our fees and the outlays will vary based on the value of the property being bought or sold; whether a mortgage is being used to fund the purchase; if the first home fund or lift scheme is used; if second securities are involved; or if the title is more complex than the normal. This list is not exhaustive. Further costs can arise if there are additional unanticipated outlays such as plans, copy documents etc. to be obtained.
Accordingly, we would ask that you please contact us for a brief discussion on your planned purchase or sale and we’ll give you a written fee estimate with our fees and outlays detailed for your planned transaction. The estimate given would normally cover the following key stages:
- Take your instructions and give you initial advice
- Carry out required Anti Money Laundering checks
- Receive offers on property and take your instructions
- Obtain redemption statements from the current lender (the amount required to repay your mortgage)
- Order Title Deeds
- Receive and advise on missives (contract)
- Carry out property searches as required
- Obtain further planning documentation if required
- Revise draft documents received from purchasers’ solicitors
- Conclude missives (and notify you that this has happened)
- Issue completion statement
- Complete sale
- Repay any mortgages and pay any outlays due
- Prepare the discharge of the standard security and submit this to the Registers of Scotland
- Paying any surplus funds due to you
