Imagine going to the corner shop and buying a Mars Bar.
“That will be 51p please, plus 9p for the wrapper, making 60p in total,” says the confectioner.
“What?” You reply.
“We have to quote you separately for the chocolate and for the wrapper,” he explains.
Of course, it’s not really like that when you buy a Mars Bar. But when you pay a solicitor or licensed conveyancer to help you buy or sell your property, we do have to quote for all elements separately.
It’s all closely regulated. We are obliged to collect various payments from you and then pass them on; we don’t keep all the money ourselves.
Here are some of the fees we typically collect:
Note that the legal cost will usually be higher for a leasehold property, because the work we have to do is more complex.
Also, note that even if the deal falls through, there may be some costs to pay.
It’s rare to have a fixed fee quote for conveyancing, as so many things can change along the way.
Usually, you will be quoted a percentage of the property price.
Sometimes, you will get a quote per hour.
Beware of online quotes that only appear cheap because they do not include everything upfront.
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