Solicitor fees for selling a house cover all the complex legal work that needs to be done when you sell your house in the UK.
How are charges calculated?
Most conveyancing solicitors charge a flat fee, though others may charge a percentage of the value of the property you are selling. You should avoid any conveyancing service that claims to charge by the hour as, although it might look cheaper to start with, you will find that the number of hours increases rapidly and can potentially leave you with a huge bill for what was advertised as a ‘budget service’.
How Much Should I Expect To Pay Conveyancing Solicitors When I Sell My House?
How much will solicitors’ fees be when you sell your house?
Recent information shows that the typical solicitors fees for selling a house in 2016 range between £500 and £1,500, depending on the complexity of the property transaction. Selling a leasehold property, for instance, can be more complicated than selling a freehold house; and therefore tends to be more expensive. However, services which cost more are not necessarily any better than cheaper ones.
Where conveyancing solicitors are recommended directly by other property professionals such as estate agents or mortgage brokers, the legal firm will often pay a ‘referral fee’ which might then be added to your bill. Bear in mind that if you additionally want the solicitor to complete the conveyancing of another property you are purchasing, there is often potential to negotiate a combined fee for both. One important thing, in addition to your bill will be VAT of 20% on the solicitor’s fees. Further, there will be fees due to you for services your solicitor will need to buy in from elsewhere, such as Land Registry charges. This in itself can add up to in the region of £250 to £500 (plus VAT).
Many people look at solicitor selling house fees and wonder what they are getting for their money. In outline, when you sell your house, your solicitor needs to carry out a number of tasks. Before exchanging contracts, your solicitor will need proof of your identity and details of your current mortgage. They must establish details of all fixtures and fittings you are leaving in the house too.
What Services Are Covered By Your Solicitors House Selling Fees?
Your conveyancing solicitor will then need other details about the property, including details of any disputes with your current neighbours, title deeds and Land Registry office entry copies (to prove the house is yours to sell!). With all of this information, they will prepare a draft contract of sale and send it to the buyer’s conveyancing solicitor.
Your solicitors fee for buying a house or selling a house also cover answering queries from the buyer about the contract and obtaining confirmation that the buyer has the finance in place to buy the house. Then the solicitor negotiates a completion date with all parties and, when everybody is happy to proceed, swaps contracts with the buyer’s solicitor and collects the deposit for your house.
After the exchange, your solicitor will confirm how much you need to pay on your current mortgage and process the transfer deed from the buyer. Following this, your conveyancing solicitor will receive payment for your house from the buyer and send the title deeds and transfer deeds to the buyer. Then, your solicitor will pay your estate agent’s and his own fees; and pay off your mortgage. The sale is now compete and your house is sold.
Your house selling solicitors fees finally cover sending you any money that may be left over from the house sale (or using this to help you buy a new house). To get the best deals on solicitors house selling fees while still maintaining high quality of service, look for online quotes from expert online conveyancing comparison websites such as Conveyancing Index.
At Conveyancing Index We Will Quickly Give You Guaranteed Solicitor Fees For Selling A House
Conveyancing Index aims to be the UK’s leading conveyancing quote comparison service. Use our website at https://www.conveyancingindex.co.uk to quickly compare the solicitor fees for selling a house from our hand-picked partner conveyancing solicitors and licensed conveyancers.
Enter your property transaction information and contact details into our online form, and within 60 seconds you will have up to four conveyancing quotes from professional conveyancers who meet our customer guarantee offering fixed fees and quick, efficient service.
Still not convinced? Ring us on 0203 874 2020 to talk to our advisers and discuss your concerns or raise any other questions or queries.