Conveyancing Fees!!

[Andy_Clap]

I'm posting this here as I know a lot of legal types use this site.

I'm getting quotes for a sale only, no mortgage, low property value (£99,950), registered with land registry, and the conveyancers are wanting upward of £400!!

How much work can it be??

How hard would it be to do myself, or are there any conveyancers/legal execs who want some pocket money??

Cheers,
Andy

[98elise]

Seems perfectly reasonable to me. Its EA fees that seem expensive.

[Eski1991]

Im being quoted more or less 1200.

[KTF]

Have a go at doing it yourself to see 'how much work can it be' before you take them up on their offer

£400 really isnt bad at all. If thats bothering you then wait until you get the stamp duty and/or estate agent fees added on top.

[Andy_Clap]

Eski1991 said:

Im being quoted more or less 1200.

For an unmortgaged, registered, sale-only. Wow. That's got to be about £600/hour!

[Andy_Clap]

anonymous said:

[redacted]

Sorry, didn't I mention it's a sale only. No searches. No dealing with banks.

From what I can see, it's send out a contract, forward any enquiries to me, return them to the other side, exchange contracts and get the money. I'm not being funny, I really would like to know what else they'll do?

[djohnson]

As professional services go conveyance work is pretty commoditized, competitive and thus fairly cheap IMHO. Remember it’s not just the process, they and their PI insurers go on risk to you for the work performed.

[surveyor]

Andy_Clap said:

anonymous said:

[redacted]

Sorry, didn't I mention it's a sale only. No searches. No dealing with banks.

From what I can see, it's send out a contract, forward any enquiries to me, return them to the other side, exchange contracts and get the money. I'm not being funny, I really would like to know what else they'll do?

Who's preparing the contract?

[Vocal Minority]

KTF said:

Have a go at doing it yourself to see 'how much work can it be' before you take them up on their offer

£400 really isnt bad at all. If thats bothering you then wait until you get the stamp duty and/or estate agent fees added on top.

No SDLT on £100k

[Andy_Clap]

Vocal Minority said:

so are you qualified to deal with the buyer's queries and get the answers right. So you don't get sued ......

Yes. Because all the solicitor does is ask me and forward the replies.

Vocal Minority said:

No SDLT on £100k

No SDLT on £10,000,000,000. It's a sale only. sigh

[Issi]

I'd advise you to try and survey the house yourself, what could possibly go wrong?

[RSoovy4]

Andy_Clap said:

Eski1991 said:

Im being quoted more or less 1200.

For an unmortgaged, registered, sale-only. Wow. That's got to be about £600/hour!

Don't be ridiculous.

Go right ahead. I know a few of us on here have collected a lot of fees clearing up the disasters when clever clogs decided to save £500 on legal fees.

Buy cheap get sh t.


Actually, go right ahead, and see just how easy it is.

[Eski1991]

Andy_Clap said:

For an unmortgaged, registered, sale-only. Wow. That's got to be about £600/hour!

Sorry, no, I misread your OP, that is for a mortgage repossession property I was buying until I got gazumped out of the runnings and included - Registry Fees and Local Authority Search, Mortgage Agreement and a clause regarding my deposit, all to be completed in as quick a period as possible on a no sale no fee basis.

[RSoovy4]

anonymous said:

[redacted]

Indeed, what next?

Oh I need an appendix out. You want HOW much. Oh I am sure it can't be that hard I mean how hard can it be? Bl00dy rip off merchants.

[Andy_Clap]

Tonker, thank you for your refreshing reply. That's the answer I was looking for; informative from somebody who knows what they are talking about. I shall take your advice.

Cheers,
Andy

[Vocal Minority]

Andy_Clap said:

Vocal Minority said:

so are you qualified to deal with the buyer's queries and get the answers right. So you don't get sued ......

Yes. Because all the solicitor does is ask me and forward the replies.

Vocal Minority said:

No SDLT on £100k

No SDLT on £10,000,000,000. It's a sale only. sigh

I didn't say the first bit it was tonker!! - But he does have a point.

Second point - don't get tetchy I was commenting on someone elses comment!

[Andy_Clap]

Vocal Minority said:

Second point - don't get tetchy I was commenting on someone elses comment!

Yes, sorry, I realise that and do apologise.

[KTF]

Andy_Clap said:

Tonker, thank you for your refreshing reply. That's the answer I was looking for; informative from somebody who knows what they are talking about. I shall take your advice.

Cheers,
Andy

Did you actually expect anyone to say 'Its easy, just do it yourself'?

[Andy_Clap]

KTF said:

Did you actually expect anyone to say 'Its easy, just do it yourself'?

You know, that could just have happened, if somebody had done it themselves (?) and it was easy. That's why I asked the question. Or you could get a professional pointing out the pitfalls.

What is frustrating is people not reading things and posting something because they can't help it. I'm just as guilty, I've done it myself, we feel the need to "contribute" even if we don't know what we're talking about. Over and over!!

Anyway, all friends now.

[surveyor]

anonymous said:

[redacted]

Break clauses are invaluable for these...

A part of one of my clients (a part that I am not involved with), managed to serve a break notice a day late. Cost them £2m. It's the sort of thing that a) should not be left to the last minute and b) should be bundles out to a trusted lawyer with all dots and t's crossed.

Another one was a local authority who took an assignment of a lease of a community facility, knowing that there was a break clause to get out if they could not make it pay. The break was conditional on complying with the terms of the lease. Landlord serviced a dilap's schedule two weeks before expiry. No-one had thought of that - no chance of doing the works. LL resisted break as not a cat in hells chance of getting same rent ever again. T folded on the steps of High Court, and last I heard were still paying.