How much does conveyancing cost?
Buying and selling property is an expensive business, we all know that, but how much do you really understand about what it is you’re paying for?
The answer for many people is, not much. Which is why, if you’re to avoid expensive pitfalls, it’s so important to find out more about it.
How much is too much? What should – and shouldn’t – you be paying for? By being aware of the hidden costs of conveyancing, you can get a true picture of what to expect, start budgeting and make sure you receive a fair quote.
What is conveyancing?
Before we get down to the nitty-gritty of fees, the first thing to be clear on is what exactly you’re paying for.
Conveyancing is a word banded about a great deal in the housing world. It’s a broad term covering the act of transferring legal ownership of a property from one person to another, but it covers a complicated and detailed process that it’s important to get right. Mistakes here and you could put your sale in jeopardy, which is why most people seek out the help of conveyancing solicitors.
Yes, you can keep costs down by opting to carry out conveyancing yourself, but unless you’re extremely experienced, it’s not advised. You’re far more likely to end up making mistakes and costing yourself more than if you use an experienced property solicitor.
What should be included in a conveyancing quote?
Everything – otherwise it’s really just an estimate. That means all legal fees (the cost for the solicitor’s time) and disbursements.
What are disbursements?
Disbursements are the third-party costs incurred by the solicitor on your behalf. They’re unavoidable and to be expected with property sales, but they need to be clearly detailed in your quote, so you know exactly what you’re paying for.
Common disbursements are:
- Land registry – copies and official copies
- Local authority searches
- Environmental searches
- Drainage search
- Land registration fees
- Stamp duty
Things you shouldn’t have to pay for
Watch out for sneaky extras. Things that should be part and parcel of the service offered by your conveyancer that are being added to your bill. Typical culprits include, charging for photocopies and postage (unless this is particularly excessive), billing for time spent on telephone calls and the completion of Stamp Duty forms.
How to make sure you don’t pay too much
· Look for a free no-obligation quote
Let’s face it, if getting a quote proves tricky or the conveyancer is keen to tie you in from the get-go, alarms bells should start ringing. Search instead for conveyancing solicitors offering a free quote – with no strings attached.
· Check for hidden cost
Make sure the quote is clear, transparent and lists everything you’re expected to pay for.
· Ask questions
If you think something isn’t quite right, question it. Any conveyancer worth their salt should be happy to explain.
· Beware an unbelievable price
If a price seems too good to be true, it usually is. Cheap conveyancing quotes usually mean you need to be wary of additional fees hiding in the small print. And don’t forget the price also reflects the calibre of the advice and service that you receive.
· Check reviews
Be sure the conveyancing firm you’re considering is everything they claim to be. Read reviews to see if previous clients have been happy with the service they received.
· No sale, no fee
There’s nothing more upsetting than the sale of a property falling through – the last thing you want is to have to pay for that disappointment. Important then to look for a service that promises no sale, no fee.
· Fast efficient service
Typically, the longer a sale takes to go through the more expenses are incurred, so a slick, efficient service is crucial.
Conveyancing solicitors wholly dependent on the postal service and traditional means of communication, can slow things down. Look instead for the option of an online system, which not only speeds things up, it’s also far more convenient.
Get more for your money with GD Legal conveyancing solicitors
No two properties are the same – so we don’t believe any two conveyancing quotes should be either.
Here at GD Legal, we are a team of leading conveyancing solicitors, priding ourselves on offering a fast, efficient – and extremely competitive – service.
Fill in a few quick details for a free instant conveyancing quote bespoke to your transaction. This will include all disbursements and VAT costs – so you can be confident you won’t encounter any nasty surprises further down the line.
Included in the price you’ll not only get access to our fast and efficient online systems, you’ll also be appointed your own dedicated solicitor from start to finish.
The quality of our service comes highly recommended but don’t just take our word for it – check out our reviews.