Real estate is a big business in the UK and hence there are many firms and companies that depend on the booming industry. While these create many options, it also creates a confusion as to which one would fit you the best. It is always recommended to be vigilante during your conveyancing quote search as higher the number of options, higher the chance of wrongful decisions.
If you are on a conveyancing quote search, here are some vital checklist that has to be checked before you pay the solicitor to represent you in your conveyancing case. These tips come handy if you are buying or selling anywhere in the United Kingdom.
- Always check if the online fee includes disbursements, VAT and other expenses: no matter how competitive the price is, you might end up paying more than expected if you do not ask for an itemised bill.
- When comparing quotes, give as many details as you can and be sure you tick the right box regarding the type of ownership (shared, leasehold, freehold), mortgage to redeem, house value, agreed price (selling or buying), if you’re using any Government scheme, such as Right to Buy or Buy to Let. The prices are different depending on the type of transactions.
- If the property is leasehold, the conveyancing fees are going to be higher. A commercial property raises a more complicated process. Therefore, the costs are higher.
- A simple conveyancing process on a freehold house or purchase without a mortgage/Government scheme will take less time and less money, whilst a leasehold house, including a mortgage, will probably take longer and have higher costs.
- A competitive quotation does not necessarily mean low-quality conveyancing services, but it does not guarantee high quality either. Whenever you start comparing conveyancing notes, do not stop at the first recommended firm or the cheapest one. Check their website, compare the services and the costs, ask for a free quotation and then decide for a certain solicitor.
For example, the fees for a freehold tenure house with a sell value of £125,500 with a mortgage in N London start from £450 and can reach £600 or over. For a home with the same value on a leasehold tenure and shared ownership, but no mortgage, the fees start at approx. £600 and can go as higher as £1200. Other costs might arise during the conveyancing progress, some of them unpredictable. Most of the expenses though might easily be foreseen, so insist on a detailed explanation of the conveyancing costs.
Using a solicitor is almost always more expensive than a conveyancer. So you have to keep that in mind during conveyancing quotes search. More complex cases require solicitors and straightforward do not. With many cases at the same time for one solicitor, your conveyancing might take longer. Online conveyancing would give you and your solicitor more time to deal with other issues and not stuck in traffic or waiting for a delayed meeting. At the same time, a local solicitor has an earnest knowledge of the particular location, and a face-to-face conversation can clear some matters fasters than changing emails.
A few websites that compare conveyancing quotes for you, so you can choose a solicitor who suits your needs are HomeOwnersAlliance, Compare and Convey, When You Move or Reallymoving.