Sehgal Costs – Conveyancing

SEHGAL COSTS – CONVEYANCING

Buying or Selling your home – what does it cost?

The cost of conveyancing for buying, selling, or remortgaging a property will include legal fees, search expenses, freeholder fees and Land Registry fees.

The exact fees you must pay will depend on the size and nature of your transaction. Our Conveyancing Calculator will give you an instant conveyancing costs quote for your own situation. Stamp Duty is also payable on certain property transactions and we can give you guidance on that too.

We provide you with a fixed fee quote at the outset of the transaction. If for any reason, your matter does not proceed to completion we will charge you a discounted rate with respect to our fees.

Example costs of purchase/sale of a freehold residential property

• Search fees £20 – £450 depending on what searches are ordered
• HM Land Registry fee £20 – £910 depending on price of property

If you are buying or selling a leasehold property, additional costs will apply.

At all stages we will however, keep you abreast of cost and if any unexpected costs arise, let you know.

For a no obligation quote, please use our instant conveyancing quote calculator and see how our price and service compares. Or you can contact our conveyancing solicitors in Birmingham on 0121 772 2226 or email property@sehgal-solicitors.co.uk

*Prices quoted do not include VAT* or third-party payments.

Timescales

In terms of time scales, every transaction is different so takes a different amount of time, but we estimate that the average time is between 6-12 weeks based on the speed of searches and mortgage offers and how quickly other people in a property chain tend to move.  Very complex transactions can take more time.

Who will be doing the work?

Our property team have a wide range of skills and you will be allocated the team members with the best skills to a handle your specific transaction.  For more information on the property team – click here

If you have any queries regarding costs please would you in the first instance contact the fee earner or, alternatively contact the department supervisor Tareq Ali who is a director and solicitor with over 8 years experience.

(* – VAT currently charged at 20%)

SEHGAL COSTS – PROBATE

Probate matters can vary hugely from a simple estate which involves money in one or two accounts where it is unnecessary to obtain a Grant of Probate from the court and there is no tax payable on the estate through to highly complex administrations which involve property and assets in different countries, complex tax calculations, Deed of Variation, where the original Will can be varied by agreement, the tracing of missing beneficiaries, and assets and liabilities in a wide variety of accounts, shareholdings and investments.

Our fees can vary from £1,000 plus VAT* and expenses to £20,000 plus VAT* and expenses.

We offer a free initial interview so that we can provide you with a more specific estimate of our fees based on the circumstances you tell us about. We will also be able to give you a better idea of the time it will take to complete the estate administration.

The costs incurred in dealing with a Probate matter are based upon the time taken to carry out the work and upon who is dealing with it.

The hourly rates are:

• Work done by Solicitors and legal executives with over 8 years’ experience – £250.00 plus VAT*
• Work done out by Solicitors and legal executives with over 4 years’ experience – £192 plus VAT*
• Work done out by a Trainee Solicitor – £118 plus VAT*

Expenses are in addition to our fees and include any fee payable to the court for an application for a Grant of Probate or Grant of Letters of Administration. Other expenses may include a fee to pay for an advert in a newspaper relating to the estate. Typically, these fees range from £155 to £500.

Following the initial free interview we will set out details of our costs in writing explaining what will be involved in the administration of the estate.

Typically, our costs for administering an estate are £3,000 to £7,000 plus VAT* and expenses.

Our fees for administering an estate include:

• Taking your initial instructions in relation to the estate of the deceased.
• Checking the validity of any Will.
• Gathering all details of assets and liabilities.
• Where necessary, preparing an application to the court for a Grant of Probate or Letters of Administration.
• Dealing with and completing the relevant forms for payment of any Inheritance Tax.
• Corresponding with the Tax Authorities as necessary.
• Dealing with registrars relating to any shares.
• Prepare an advertisement for debts due to the estate.
• Payment of any beneficiaries under the terms of the Will.
• Payment of any debts and expenses.
• Preparing estate accounts for your approval.
• Arranging for final distribution of the estate.

The work will not include the work involved in any transfer or sale of any property.

We will advise you on whether a Deed of Variation of the Will is necessary but if it is, that will be at an additional which is typically £450 plus VAT*.

With regard to the time taken to deal with an estate again this can vary but typically it is between 6 months and 12 months from when we receive your instructions.

If you have any queries regarding costs please would you in the first instance contact the fee earner or, alternatively contact the department supervisor Richard Quinn who is a solicitor with over 8 years experience.

(* – VAT currently charged at 20%)