Conveyancing fees

 

Embarking upon a property transaction can be a stressful and lengthy process for buyer or seller. As part of this process, it is common to instruct a conveyancer: a specialist property lawyer who possesses the skill and expertise to deal with the legal aspect of the transaction.

What am I paying for?

The sort of work a conveyancer will typically undertake includes:

  • Conducting searches
  • Investigating title
  • Liaising with mortgage lenders
  • Dealing with stamp duty land tax

However, for larger or more complex transactions the conveyancing costs may rise if there is more work to be done. For example, applying for planning permission would be completed by the conveyancer and would be an additional cost.

Do it yourself conveyancing?

Some people become concerned about conveyancing costs and, in an attempt to save money, will endeavour to complete the conveyance themselves. This is not advisable for those with no previous property experience as small mistakes can be hugely detrimental to the sale and unnecessary delays could lead to the collapse of the transaction.

Keeping conveyancing costs low depends on what conveyancer you instruct. Often estate agents will recommend a particular conveyancer, however the agent may be taking a personal commission in doing this which will come from your pocket. (To contrast, we make a commission from the solicitor, but this isn’t passed on to the client. We also work with hundreds of conveyancing firms, not just a few, so there are far more options for the client.)

Will it be expensive?

At the same time, it may not be cost-effective to instruct only the very top, licensed conveyancers when a general solicitor may be able to do the same job. A licensed conveyancer would have taken extra training provided by the Council of Licensed Conveyancers and sat the requisite exams too.

Whilst a licensed conveyancer may be a necessity for a complicated property transaction, a regular solicitor practicing property law can do all the work on a typical residential conveyance.

To ensure you have a good idea of the conveyancing costs you are likely to encounter it will help to completely understand the extent of the work that needs to be done on the property transaction.

In order to compare conveyancers, certain comparables must be established. The key things to look for in a conveyancer are:

  • Professionalism
  • Speed
  • Expertise
  • Value for money

It is important to establish what a conveyancer will charge for each part of the conveyance transaction and not just base your choice on the price quoted for legal fees only. For example, the cost of the completion of the stamp duty land tax return and additional costs if a mortgage is involved.

Comparing conveyancers can be a time consuming and stressful experience as there are many to choose from. Contact Law can put you in touch with recommended conveyancing solicitors who can provide you with timely quotes in order to help you with your decision.
Are you unsure what kind of solicitor you should choose? Read our article on cheap solicitors.

Do you need help finding an appropriate conveyancer for your house sale or purchase? Contact Law works with a variety of different size law firms, and can select an appropriate solicitor based on your needs. Please call us on 0808 129 5758 or complete the web-form above.

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