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Terms of Engagement for Purchase of Domestic Property |
Transaction: Purchase of Freehold / Leasehold.
Including the work involved in your mortgage.
Aisha Khalaf will have day-to-day conduct of this matter assisted as
needed by Yolanda. |
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What Can You Expect From Us? |
- We aim to provide a service, which is friendly and helpful as
well as speedy and efficient.
- We will liaise regularly with any third parties – estate agents,
banks, etc. – to ensure that your transaction runs smoothly. We
chase you up instead of the other way round.
- We aim to return any telephone call from you on the same or the
following working day. If this is not possible, the reason will be
explained to you.
- If we are seeing you by appointment, we will not keep you
waiting beyond your appointment time except for unavoidable reasons,
which will be explained to you.
- We can provide a full and comprehensive service for other legal
matters in which you are involved.
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If You Are Dissatisfied |
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We hope you will have no cause for complaint but if you do, we will do
our best to resolve it quickly and to your satisfaction. |
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Our Fee (please email or ring for quote) |
This will be £ +V.A.T. at the current rate. In addition, you will be
responsible for out of pocket expenses and sum/fees paid to the
government or local authorities. Examples of these are:
Local Authority Search ; Drainage Search; Stamp Duty Land Tax Land
Registry fees; Land Charges fees; Bank Charges for transmission of
monies; |
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What Our Standard Fee Includes |
- Routine Correspondence including that with estate agents and
other party’s solicitors.
- The normal work involved in deducting title and providing that
you property is free from restrictions, which would affect its sale
value.
- Raising appropriate enquiries with the Sellers’ Solicitors.
- Dealing with the requirements of your Mortgage Lender including
all correspondence connected therewith.
- If you are having an endowment type mortgage, dealing with the
formalities in connection with that.
Our fee is intended to cover the work routinely carried out in a
conveyance transaction. There will occasionally, however, be work which
is not routine or which was not anticipated. For some of this, we may
make fixed additional charges as follows:
- Dealing with a title insurance policy including any necessary
correspondence and statutory declarations £ plus V.A.T.
- The preparation of Power of Attorney £ plus V.A.T.
Examples of other work for which we reserve the right to make
reasonable additional charges are:
- Correspondence and work needed to resolve a non-routine problem
connected with the property, e.g. a right of way or planning
difficulty or boundary dispute.
- In the case of a leasehold property, additional work required
because of service charge provisions or particular problems in the
Lease.
- Abortive transactions.
In the event that additional work is carried out and where there is
no stipulated fixed supplementary fee, this will be charged for at the
rate of, currently £160 per hour plus V.A.T. Routine letters and
telephone calls are charged at 10% of this rate. Whereever possible, we
will give you advance notice that additional charges are being incurred
so that you may budget accordingly.
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Generally |
- Our bill will be rendered to you before completion together with
a statement of your other expenses (e.g. Stamp Duty). We need to
have cleared funds in our possession 5 days before the anticipated
completion date.
- In the absence of agreement to the contrary we will account to
you by cheque within 4 working days of completion.
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Some Common Problems |
- In a purchase transaction there are two stages viz:
- Exchange of Contracts at which point the parties are legally
obliged to proceed.
- Completion of the legal formalities. It is important to
allow a reasonable time (usually a minimum of five working days)
between exchange and completion.
- Post completion work when stamp duty and land tax matters
are dealt with and the transaction (in the case of a purchase)
is sent to the Land Registry for registering. Informing you and
your Lender of completion of registration.
- Your purchase may be one of a chain of transactions i.e. you are
buying from A who is buying from B who is buying form C and so on.
It sometimes happens that a purchaser will agree a completion date
with his seller without ensuring that all the other people in the
chain of transactions can manage this date. Before you agree a date
please speak to us.
Our office hours are 9.00 a.m. – 5.00 p.m. Mondays to Thursdays and
4.30 on Fridays. Evening and Saturday morning appointments can be
made by prior arrangement. Home visits can also be arranged if
necessary to assist clients who are unwell or have mobility
difficulties.
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HIPS |
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HIPs contain a Large amount of Legal content, making solicitors best
placed to prepare, produce and interpret them. Khalaf and Co Solicitors
can provide HIPS. Please contact us for
more information. |