Whether buying or selling, Solicitors make a charge for the work they do. This charge reflects the time taken in any one transaction including the amount of documents to be created or examined, the volume of correspondence and telephone calls and, the number meetings held. The charge also reflects the responsibility accepted by the Solicitor in ensuring that the work is carried out correctly. Therefore, the greater the price of the property the greater the charge. These fees will cover the following work;-
- Drafting or reviewing the Contract
- Carrying out searches and enquires
- Reporting results
- Reviewing mortgage conditions
- Preparing the SDLT return and ensuring prompt submission
- Preparing final contract and transfer documentation
- Conducting a meeting with the client to give advice on all of the above
- Arranging all financial transactions with the other side and the mortgage lender
- Exchange of contracts
- Completion of transaction
- Payment of SDLT
- Registration with the Land Registry
- Provide records of registration to the client.
In addition to the Solicitor's fee there are several other expenses which have to be paid when buying or selling a house. These are referred to as 'disbursements' and are often thought of as 'legal fees'. However in reality they are charges made by other parties. What fees are necessary will change depending on the nature of the transfer and the specific circumstances of each transaction. The more common disbursements include;-
- Search Fees paid to Local Authorities, utility companies and dedicated search companies
- Land Registry Fees paid for registration of ownership, office copies of the documents they hold and certian specailist searches.
- Stamp Duty Land Tax paid to the UK Government on a purchase
For a comphrensive guide to our pricing for conveyancing costs, please click here.
If you would like an no obligation quote please contact us via;-
Telephone: 02476 55 31 81