We offer our clients a range of pricing options that not only account for the nature of the property and type of transaction or advice required, but also for each client’s particular requirements and preferences.
We will discuss the range of appropriate pricing options for a matter with you at the outset of the transaction and will agree with you, in advance, all charges to be incurred.
For some of our clients, engaging TWM to work on a traditional hourly rate basis remains the preferred approach and we are able to offer a range of rates, for trainee solicitors through to partners, to ensure that work is undertaken in the most cost-effective manner. For other clients a fixed price will be a preferable option.
We are always mindful that transactions can fall through, leaving legal costs to pay for an abortive sale, purchase or lease. We have a range of options that mitigate against this risk, either wholly or partially.
On more complex transactions where it can be particularly difficult to anticipate how much work will be required, the client’s budget requires a measure of certainty. We often offer a ‘cap and collar’ fee arrangement, which keeps the ultimate fee within a defined band no matter how time-consuming the transaction ultimately proves to be.
For clients with significant property portfolios, for whom we undertake a substantial volume of work, we are happy to agree a scale of standard fixed charges for certain types of transactions.
Generally, our transactional work is invoiced at completion. However, we will deliver bills on a staged basis, for example at exchange, in the case of option agreements, where there may be a delay of a year or more before the option is exercised. If requested by a client, or where the work is of a lengthy ongoing nature, billing on a monthly or quarterly basis will be arranged and agreed in advance.
For further information about our commercial property work, please contact Adrian Price, Partner and Head of Commercial Property.
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