Conveyancing fees, how to get the best deals
Buying or selling a property can be an intimidating process if you opt to do it on your own. Asking the right questions can help save hundreds if not thousands of pounds on conveyancing fees. Don’t be allured by initial cheap conveyancing costs from conveyancing solicitors because it could eventually turn into a thumping big bill. The legal side of property conveyancing was traditionally a nice little earner for solicitors but ever since the property market took a dive, lawyers have been hit hard due to the slump in house sales. Although the market seems to be picking up its pace, conveyancing fees still remain all time low.
Compared to the fixed fee conveyancing charged by estate agents, legal charges are a great bargain. It is highly recommended to obtain at least three or four conveyancing fees before you select a specific conveyancing solicitor to handle your legal matters. Rather than selecting, a property solicitor suggested by your estate agent it is best to refer to personal recommendations from friends and colleagues.
Even though your first contact with the conveyancing solicitor will be through telephone, don’t jump to conclusions once you have obtained a fixed fee conveyancing. It always best to compare conveyancing fees to getter a better understanding of which property solicitor is appropriate for you. Keep in mind that comparing conveyancing costs is not for the faint-hearted especially when you have to force solicitors into telling you what you will actually end up paying. There are certain things to keep in mind before finalising conveyancing fees.
Many solicitors tend to include all legal work required on the mortgage in their fees. If this is the case always ask them because you might end up paying separate sets of conveyancing fees which eventually is costly. Keep in mind that conveyancing costs usually have VAT added you might have to pay additional charges for searches and stamp duty. Make sure that your property solicitor makes all these details clear and provides a comprehensive breakdown of every conveyancing cost. Conveyancing solicitors might trick you with an initial cheap quote only to pile it various other charges for postage, photocopying and bank transfers. Therefore, it is always suggested to ask detailed questions about conveyancing fees.
It is also important to consider that conveyancing costs rise as you near to London. In order to keep conveyancing fees down you need to compare quote and search for a solicitor who will offer fixed free conveyancing. You will most likely find that several solicitors’ fees increase as the property prices go up. By selecting fixed fee conveyancing, the legal costs remain the same no matter what the price of the property is. There are fixed fee conveyancing solicitors available in London from which you can select. However, if you are keen on opting for fixed fee conveyancing solicitors within the London area then you will have to consider paying a hefty price. Keep in mind that the cheapest fixed fee conveyancing might not always be the best solution to your problem. So keep in mind to compare quotes and if possible get all conveyancing firms to confirm the figures in writing.