Conveyancing and solicitors...
Discussion
Ok, so I'm not totally stupid, and I realise that people have to make a living, but having been quoted almost £3k to buy a house and sell a flat seems a tad high to me!
I've seen the internet only shops that do it for about a grand, are they really going to be more painful due to saving in the region of £1500.??
Surely the same kind of (qualified) person does both? but one has a lot more cases to do at once?
Is it wise to go the internet route?
Any advice welcome
I've seen the internet only shops that do it for about a grand, are they really going to be more painful due to saving in the region of £1500.??
Surely the same kind of (qualified) person does both? but one has a lot more cases to do at once?
Is it wise to go the internet route?
Any advice welcome
vxsmithers said:
Ok, so I'm not totally stupid, and I realise that people have to make a living, but having been quoted almost £3k to buy a house and sell a flat seems a tad high to me!
I've seen the internet only shops that do it for about a grand, are they really going to be more painful due to saving in the region of £1500.??
Surely the same kind of (qualified) person does both? but one has a lot more cases to do at once?
Is it wise to go the internet route?
Any advice welcome
Check the small print. Conveyancing tends to have two ways in which people quote. It's either low basic rice, but then the add-ons get you (i.e. extra for leasehold, extra for dealing with mortgage co etc) or just an open and up front price.I've seen the internet only shops that do it for about a grand, are they really going to be more painful due to saving in the region of £1500.??
Surely the same kind of (qualified) person does both? but one has a lot more cases to do at once?
Is it wise to go the internet route?
Any advice welcome
Any chance you could give a breakdown of what the £3k is for - does this include searches and stamp duty etc, or are they extra.
At the end of the day you get what you pay for. Most of the time you'll probably be ok paying peanuts, but can you afford to take a chance on being the exception to that rule? And consider the business model of the people doing it - is it an experienced solicitor who specialises in residential conveyancing and will handle your file personally, or a school leaver who is following the automated system under "supervision" by someone qualified?
Most bulk conveyancers were primarily set up for the remortgage business as opposed to actual conveyancing - mainly because it was much easier. They tend not to handle actual conveyancing as well. Of course, not all solicitors offer the levels of service that they should.
I'm biased - but then again I'm in the process of selling my house and I know I'm going to be paying someone who can do the job properly (and I have the added luxury of being able to check over their work). And incidentally, what are your estate agent's costs (again, I'm biased, but out of the two who do you think is the most trained, and takes on the most risk)?
I'm hapy to get one of our guys to give you a quote if you want to compare. PM your details and I'll get them to give you a call tomorrow. I doubt we'll be the cheapest you can find - but for some things it's not just about competing on costs.
therealpigdog said:
Check the small print. Conveyancing tends to have two ways in which people quote. It's either low basic rice, but then the add-ons get you (i.e. extra for leasehold, extra for dealing with mortgage co etc) or just an open and up front price.
Any chance you could give a breakdown of what the £3k is for - does this include searches and stamp duty etc, or are they extra.
At the end of the day you get what you pay for. Most of the time you'll probably be ok paying peanuts, but can you afford to take a chance on being the exception to that rule? And consider the business model of the people doing it - is it an experienced solicitor who specialises in residential conveyancing and will handle your file personally, or a school leaver who is following the automated system under "supervision" by someone qualified?
Most bulk conveyancers were primarily set up for the remortgage business as opposed to actual conveyancing - mainly because it was much easier. They tend not to handle actual conveyancing as well. Of course, not all solicitors offer the levels of service that they should.
I'm biased - but then again I'm in the process of selling my house and I know I'm going to be paying someone who can do the job properly (and I have the added luxury of being able to check over their work). And incidentally, what are your estate agent's costs (again, I'm biased, but out of the two who do you think is the most trained, and takes on the most risk)?
I'm hapy to get one of our guys to give you a quote if you want to compare. PM your details and I'll get them to give you a call tomorrow. I doubt we'll be the cheapest you can find - but for some things it's not just about competing on costs.
Thanks will pm my details to you - no harm in having a few quotes to look at Any chance you could give a breakdown of what the £3k is for - does this include searches and stamp duty etc, or are they extra.
At the end of the day you get what you pay for. Most of the time you'll probably be ok paying peanuts, but can you afford to take a chance on being the exception to that rule? And consider the business model of the people doing it - is it an experienced solicitor who specialises in residential conveyancing and will handle your file personally, or a school leaver who is following the automated system under "supervision" by someone qualified?
Most bulk conveyancers were primarily set up for the remortgage business as opposed to actual conveyancing - mainly because it was much easier. They tend not to handle actual conveyancing as well. Of course, not all solicitors offer the levels of service that they should.
I'm biased - but then again I'm in the process of selling my house and I know I'm going to be paying someone who can do the job properly (and I have the added luxury of being able to check over their work). And incidentally, what are your estate agent's costs (again, I'm biased, but out of the two who do you think is the most trained, and takes on the most risk)?
I'm hapy to get one of our guys to give you a quote if you want to compare. PM your details and I'll get them to give you a call tomorrow. I doubt we'll be the cheapest you can find - but for some things it's not just about competing on costs.
WRT costs - the £3k relates to a fee for selling, a fee for buying, costs for dealing with mortgage co, leasehold, bank transfers, and also disbursements for local searches and land registry. This does not include stamp duty, which is 3% to give you an idea of purchase price.
However, the £1k fees offer exactly the same, albeit a rather large caveat on leasehold complications (where there won't be any as I am a co -owner of the lease). I take the very valid point about est agents fees and trained staff though. I just remember the last time I did this being less than £600 rather than over 4 times the price
I'm payign £3K too for the same transaction. For a good solicitor it's money well spent. I learned from bitter experience that it can be cocked up. It cost me far more than the original cost to rectify the situation.
I have also worked for a conveyancing firm whose model I'd assume is mirrored by the internet firms. They have large teams headed by a single qualified person. The rest of the team are just admin staff. They handle a large no. of transactions at a time and I'd suggest there is a far greater risk of something being missed.
My advice is find a good reliable local solicitor.
I have also worked for a conveyancing firm whose model I'd assume is mirrored by the internet firms. They have large teams headed by a single qualified person. The rest of the team are just admin staff. They handle a large no. of transactions at a time and I'd suggest there is a far greater risk of something being missed.
My advice is find a good reliable local solicitor.
I've just sold a flat and was charged £550 all in legal fees.
I'm now buying a house a month later and am paying £710 inc the electronic transfer.
Both of these prices were teh same solicitor who's local and been very good. Transaction numbers are greatly down still and business must be very hard for conveyancing only firms - I'd suggest visiting a few and haggling a price. Both of the above prices were a reasonable bit less than I was first qouted
Good luck!
I'm now buying a house a month later and am paying £710 inc the electronic transfer.
Both of these prices were teh same solicitor who's local and been very good. Transaction numbers are greatly down still and business must be very hard for conveyancing only firms - I'd suggest visiting a few and haggling a price. Both of the above prices were a reasonable bit less than I was first qouted
Good luck!
I've just been quoted just under £1k to do the conveyancing for a flat I'm buying. This is guarantied not to increase.
Break down is as follows
Our fee 495.00
Our leasehold fee 95.00
Stamp duty land tax fee 55.00
Environmental search 55.00
Land registry fee 130.00
Additional searches 23.00
Chancel Repair Liability 30.00
VAT on our fees 112.88
Total £995.88
Break down is as follows
Our fee 495.00
Our leasehold fee 95.00
Stamp duty land tax fee 55.00
Environmental search 55.00
Land registry fee 130.00
Additional searches 23.00
Chancel Repair Liability 30.00
VAT on our fees 112.88
Total £995.88
andye30m3 said:
I've just been quoted just under £1k to do the conveyancing for a flat I'm buying. This is guarantied not to increase.
Break down is as follows
Our fee 495.00
Our leasehold fee 95.00
Stamp duty land tax fee 55.00
Environmental search 55.00
Land registry fee 130.00
Additional searches 23.00
Chancel Repair Liability 30.00
VAT on our fees 112.88
Total £995.88
Sounds fair. Depending on whether the searches in the HIP are up to date, you may need to factor in another £200 or so for replacement local authority searches and the like. Once they get past a certain age, you can't rely on them any more.Break down is as follows
Our fee 495.00
Our leasehold fee 95.00
Stamp duty land tax fee 55.00
Environmental search 55.00
Land registry fee 130.00
Additional searches 23.00
Chancel Repair Liability 30.00
VAT on our fees 112.88
Total £995.88
A virtual beer also says that they will add on £35 or so for the TT fee - presuming money is passing through their account. Surprised that hasn't been mentioned.
therealpigdog said:
andye30m3 said:
I've just been quoted just under £1k to do the conveyancing for a flat I'm buying. This is guarantied not to increase.
Break down is as follows
Our fee 495.00
Our leasehold fee 95.00
Stamp duty land tax fee 55.00
Environmental search 55.00
Land registry fee 130.00
Additional searches 23.00
Chancel Repair Liability 30.00
VAT on our fees 112.88
Total £995.88
Sounds fair. Depending on whether the searches in the HIP are up to date, you may need to factor in another £200 or so for replacement local authority searches and the like. Once they get past a certain age, you can't rely on them any more.Break down is as follows
Our fee 495.00
Our leasehold fee 95.00
Stamp duty land tax fee 55.00
Environmental search 55.00
Land registry fee 130.00
Additional searches 23.00
Chancel Repair Liability 30.00
VAT on our fees 112.88
Total £995.88
A virtual beer also says that they will add on £35 or so for the TT fee - presuming money is passing through their account. Surprised that hasn't been mentioned.
vxsmithers said:
Ok, so I'm not totally stupid, and I realise that people have to make a living, but having been quoted almost £3k to buy a house and sell a flat seems a tad high to me!
I've seen the internet only shops that do it for about a grand, are they really going to be more painful due to saving in the region of £1500.??
Surely the same kind of (qualified) person does both? but one has a lot more cases to do at once?
Is it wise to go the internet route?
Any advice welcome
£3k is royally taking the pi55, especially given that most conveyancing departments are currently on their collective arse.I've seen the internet only shops that do it for about a grand, are they really going to be more painful due to saving in the region of £1500.??
Surely the same kind of (qualified) person does both? but one has a lot more cases to do at once?
Is it wise to go the internet route?
Any advice welcome
I've got a solicitor who I can highly recommend. Being a property investor I've dealt with numerous firms, but the guy we currently use is head and shoulders the best I've dealt with.
fastcomdotnet at gmail dot com if you want me to pass on his details
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