POCA Conveyancing

Our POCA Conveyancing Department is a specialist unit dedicated to ensuring properties which form part of a confiscation order are handled with care.

Our job is to assist clients and their solicitors in selling properties restrained by the authorities and help them to achieve the best possible result to stop any potential default sentence.  At Cohen Cramer Solicitors, we take on POCA properties for general sale and for auction.

We understand that you need solicitors:

  • who understand clients must pay within 3 months and we offer a quick and efficient service to deal with that.
  • who provide you with regular updates to be served upon the Crown and the Court to stop the threat of default sentences.
  • who understand that clients with confiscation orders don’t always have the answers and can liaise with anyone necessary to obtain the information required for sale.
  • who understand third party interests and that sometimes there may be someone else involved in the sale.
  • who can correctly pay the clients order and determine how funds are to be split and where funds are to be sent to.

At Cohen Cramer Solicitors, we understand POCA and that the work required to deal with a POCA property isn’t straightforward.  Our specialist POCA Conveyancing Department can take away the pressure of arranging payment of any confiscation order and assist you in making sure you do not receive a default sentence due to not selling your property in the allotted time.

These fees are for properties sold by auction and can vary from property to property, especially if not sold by this method and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.

Sale of a freehold residential property

We do not undertake work in connection with the purchase or re-mortgage of properties.  However below are our fees for dealing with the sale of a property on your behalf.

Our fees cover all of the work* required in respect of the sale of your property, including responding to all enquiries raised by the purchaser, taking the transaction through the exchange of contracts to completion and all post completion formalities.

Conveyancer’s fees and disbursements.

Our fees are based on the risk and work to be undertaken on more valuable properties.

No charges and sole proprietor:

  • Legal fee £1,000.00
  • Electronic money transfer fee £35.00
  • VAT payable £200.00
  • Subtotal £1,235.00

Charges (such as a mortgage) and two or more proprietors

  • Legal fee £1,250.00
  • Electronic money transfer fee £70.00
  • VAT payable £250.00
  • Subtotal £1,570.00

There will be a charge if the property is to be sold at auction and a legal pack must be prepared.  This is a disbursement.  We estimate this to be £300.00 plus VAT which in total is £360.00.

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

How long will it take to sell my property?

How long it will take from your offer being accepted until my house will be sold this will depend on a number of factors. The average process takes between 4-12 weeks.

It can be quicker or slower, depending on the parties in the chain. For example, if a first-time buyer is purchasing your property, with a mortgage in principle, it could take 12 weeks. However, if you are selling your property and the person buying it is a cash buyer with little or no enquires, this can take significantly less time and could take 4 weeks.

Sale of a leasehold residential property

Our fees cover all of the work* required in respect of the sale of your property, including responding to all inquiries raised by the purchaser, taking the transaction through the exchange of contracts to completion and all post completion formalities.

Conveyancer’s fees and disbursements.

Our fees are based on the risk and work to be undertaken on more valuable properties.  Leasehold properties are naturally more complicated and require more work.

No charges and sole proprietor

  • Legal fee £1,250.00
  • Electronic money transfer fee £35.00
  • VAT payable £250.00
  • Subtotal £1,585.00

Charges (such as a mortgage) and two or more proprietors

  • Legal fee £1,500.00
  • Electronic money transfer fee £70.00
  • VAT payable £300.00
  • Subtotal £1,870.00

As with freehold properties, there will be a charge if the property is to be sold at auction and a legal pack must be prepared.  This is a disbursement.  We estimate this to be £400.00 plus VAT which in total is £480.00.  This includes Land Registry documents and search documents.

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process and will let you know before we pay any disbursements.

Disbursements such as the ones listed below will be paid by the purchasers of the property on completion.

  • Notice of Transfer fee – This fee if chargeable is set out in the lease.
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease.
  • Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate.
  • Certificate of Compliance fee – To be confirmed upon receipt of the lease.

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information and it will be apportioned between you and the buyer.

* Our fee assumes that:

  • this is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
  • this is the assignment of an existing lease and is not the grant of a new lease
  • the transaction is concluded in a timely manner and no unforeseen complication arise
  • all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  • no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

Prices are based on the risk and work to be undertaken on more valuable properties.  If you are purchasing a property over the value of£250,000.00 our fees for undertaking the work required to sell the property will be higher.  Please add the following fees on top of the selected legal fee above.

Freehold Residential Property

No Charges and Sole Proprietor

Property Value Fee VAT Payable Electronic transfer fee Subtotal
£250,000.00 – £500,000.00 £1,000.00 plus £250.00 £250.00 £35.00 £1,285.00
Over £500,000.00 – £750,000.00 £1,000.00 plus £500.00 £300.00 £35.00 £1,835.00
Over £750,000.00 – £1,000,000.00 £1,000.00 plus £750.00 £350.00 £35.00 £2,135.00
Over £1,000,000.00 TBC on a case by case basis TBC £35.00 TBC

 

Freehold Residential Property

Charges (such as a mortgage) and two or more proprietors

Property Value Fee VAT Payable Electronic transfer fee Subtotal
£250,000.00 – £500,000.00 £1,250.00 plus £250.00 £300.00 £70.00 £1,285.00
Over £500,000.00 – £750,000.00 £1,250.00 plus £500.00 £350.00 £70.00 £2170.00
Over £750,000.00 – £1,000,000.00 £1,250.00 plus £750.00 £400.00 £70.00 £2,470.00
Over £1,000,000.00 TBC on a case by case basis TBC £70.00 TBC

 

Sale of a Leasehold Residential Property

No Charges and Sole Proprietor

Property Value Fee VAT Payable Electronic transfer fee Subtotal
£250,000.00 – £500,000.00 £1,250.00 plus £250.00 £300.00 £35.00 £1,250.00
Over £500,000.00 – £750,000.00 £1,250.00 plus £500.00 £350.00 £35.00 £2135.00
Over £750,000.00 – £1,000,000.00 £1,250.00 plus £750.00 £400.00 £35.00 £2,435.00
Over £1,000,000.00 TBC on a case by case basis TBC £35.00 TBC

 

Sale of a Leasehold Residential Property

Charges (such as a mortgage) and two or more proprietors

Property Value Fee VAT Payable Electronic transfer fee Subtotal
£250,000.00 – £500,000.00 £1,500.00 plus £250.00 £350.00 £70.00 £2,170.00
Over £500,000.00 – £750,000.00 £1,500.00 plus £500.00 £400.00 £70.00 £2,470.00
Over £750,000.00 – £1,000,000.00 £1,500.00 plus £750.00 £450.00 £70.00 £2,770.00
Over £1,000,000.00 TBC on a case by case basis TBC £70.00 TBC