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Costs for purchases of property at auction

Base Legal Fees for Properties Bought at Auction:  £395.00*+ VAT:£79.00

Disbursements:

  1. Land Registry Registration fees/Applications Submitted by Post/Applications Submitted Online: TP1/Unregistered Titles:

Value/Amount(£)

Fee

Value/Amount (£)

Fee

£0-80,000.00

£40.00

£0-80,000.00

£20.00

£80,001-100,000.00

£80.00

£80,001-100,000.00

£40.00

£100,001-200,000.00

£190.00

£100,001-200,000.00

£95.00

£200,001-500,000.00

£270.00

£200,001-500,000.00

£135.00

£500,001-1,000,000.00

£540.00

£500,001-1,000,000.00

£270.00

£1,000,000 and over

£910.00

£1,000,001.00 and over

£455.00

  1. Telegraphic Transfer Fee inc VAT (£6.80) £40.80
  1. Completion & Submission Stamp Duty Land Tax form: £90.00 Inc VAT (£15) (Properties priced £40,000.00 +)
  1. Official Search (per title): £3.00
  1. Bankruptcy/Land Charges Search (per name): £2.00
  1. Stamp Duty:
Buy to Let Properties:  
£0 – 39,999.00          0% of Price
£40,000 – 125,000.00    3% of Price
£125,001-250,000.00       5% of Price
£250,001-£925,000.00 8% of Price
£925,001- 1,500,000.00  13% of Price
£1,500,001 and Over 15% of Price
  
e.g. Purchase Price £60,000 Stamp Duty = £1,800.00 or Purchase Price is £150,000.00 Stamp Duty = £5,000.00 (£0-125,000 3% £3,750 and £125,001- £150,000 5% £1,250)

 

Buy to Reside in Properties:  
£125,001-250,000.00     2% of Price
£250,001-925,000.00   5% of Price
£925,001-£1,500,000.00       10% of Price
£1,500,001- and Over 12% of Price
  
e.g. Purchase Price £160,000 Stamp Duty = £700.00 or Purchase Price is £260,000.00 Stamp Duty = £3,000.00 (£125,000 – 250,000 2% £2,500 and £250,001- £260,000 5% £500)

 

The auction sales pack normally contains the results of Local, Water & Drainage and Environmental searches which will be required if you are obtaining finance to assist with the purchase. If there are no searches contained within the auction pack, we can obtain these at an approximate cost of £129.00. The Local Search could contain adverse entries such as specific and/or other charges.

If Gregory Abrams Davidson Solicitors is requested to deal with a mortgage in conjunction with your purchase and/or if the title is Leasehold, there will be an additional fee charged of £175.00 plus VAT (£35) minimum.

If the property to be purchased is Leasehold there may be additional disbursement, e.g. a fee for serving Notice of Transfer etc. We will not know the details of the fees until later in the transaction.

Please ensure that you make relevant checks and viewings where possible. It is imperative where possible to check the interior of the dwelling prior to exchange.

*Fee quoted does not apply to commercial properties or multiple properties in a single lot.

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