Our legal fee is a fixed fee agreed at the outset. The work covered by this fee will consist of the following:
(a) investigating the title to the property, to include:
(i) carrying out searches with respect to title and obtaining local government information for the property;
(ii) reviewing replies given by the seller to pre-contract enquiries;
(b) negotiating the purchase contract;
(c) negotiating the transfer document;
(d) advising you in respect of your mortgage offer;
(e) preparing a report on title for you;
(f) proceeding to exchange of contracts and then effecting completion of the purchase;
(g) transferring funds by telegraphic bank transfer to the seller’s conveyancer and for relevant taxes;
(h) calculating any land tax (SDLT or LTT) on the purchase and preparing and submitting to the Revenue Authority the appropriate tax forms; and
(i) registering the purchase and the mortgage (if any) at the Land Registry.
Our fee has been calculated on the basis that:
(a) the property is currently held under a single title at the Land Registry with no title defects;
(b) one contract is submitted to one buyer and that you are not placed in a contract race;
(c) the purchase will be on the basis of an unconditional contract and the property is acquired with vacant possession;
(d) completion takes place on the date agreed in the contract;
(e) if you are taking out a loan, the lender that you have chosen also instructs Russell & Russell to act on its behalf.
If it becomes apparent that there are unforeseen circumstances in connection with the purchase we may have to increase our charges but, if that is the case, I shall inform you before we incur any additional costs.