Conveyancing solicitor fees can range from the hundreds to thousands of pounds and it all depends on exactly what the conveyancer is required to do in each individual case. Apart from the different searches that need to be carried out, your solicitor will also assist during the exchange of your new property.
The exchange, or exchange of contracts, needs to take place before the house can be sold. In essence, this is literally the conveyancing solicitors on both sides passing the contract for the sale of the house to one another. This should be done by an agreed time and date and this is why your solicitor will need to work hard in order to ensure that everything is ready for that deadline.
Conveyancing fees are certainly worth paying because the process can be a complicated one and the time and work that goes into getting to this point can be extensive. The process of exchange often takes places over the phone.
Each solicitor reads out the contract to the other conveyancer; and if there are any issues that arise, they need to be dealt with. If everything is correct, the exchange can take place. In case of a later dispute, the exchange is usually recorded. Once the phone conversation has finished, the contracts will be posted to one another. After this point, the buyer is legally bound to buy the property and if they do withdraw for any reason, they will lose their deposit, which needs to be paid on exchange.
Conveyancing Index offers a direct comparison between conveyancing solicitor fees and organisations. Our website (https://www.conveyancingindex.co.uk) is user friendly and easy to navigate with plenty of advice for all.
If you have any questions, please call us on 0203 874 2020 to find out how we can help you.