subject: How is a Conveyancing Fee Calculated? [print this page] How is a Conveyancing Fee Calculated? How is a Conveyancing Fee Calculated?
Moving home can be stressful, not to mention expensive. It's therefore really important that you choose the right team of conveyancing solicitors to handle the process. The first thing you need to do is obtain some quotes on the conveyancing fee that you will be liable to pay upon completion. Quotes can vary quite a bit between different conveyancing teams so getting a few quotes is always a good idea.
Once you are armed with the facts and a couple of good quotes you will be in a better position to get the conveyancing process started. The conveyancing fee is made up of several components and each will depend on whether you are buying a property, selling a property or both. Conveyancing can often be a very complex process and requires the expert knowledge of a professional solicitor who is experienced in the legal processes involved.
A "No Completion No Fee" Promise
Completion is the very last stage of the conveyancing process and is the time when you can finally call the house you are buying your home or when you hand over your keys to the new buyers of your current house. Unfortunately, things can go wrong at any stage of conveyancing so when it's a good idea to find a conveyancing solicitor who offers a no completion, no conveyancing free' promise as part of their service. Without this agreement in place you could be liable to pay hundreds and even thousands of pounds should your house sale or purchase fall through.
Many problems experienced during the conveyancing process are down to poor legal work which can in turn cause transactions to fail, poor communication and massive delays. By asking for a no completion, no conveyancing fee' clause in your contract you'll be getting complete peace of mind that you won't be left with a massive bill if things do go wrong. It also means your solicitors are confident in their services and will ensure that the whole process runs to plan.
A Fixed Conveyancing fee
It's always important to ensure that the fees you are expected to pay upon completion are fixed. A fixed conveyancing fee will ensure you don't have to deal with nasty shocks when it comes to paying your final bill. If your solicitor cannot supply you with a fixed conveyancing fee it is probably time to move on and find a solicitor who can. Fixed fees give you complete peace of mind and your solicitor should have no problem in giving you this kind of quote for their services.
Your conveyancing fee will also include what are known as disbursements. These expenses' are fees that are paid by your solicitor to third parties for processes such as property searches. These fees should also be made known to you in advance.
