Welcome to the second part of our guide to conveyancing quotes. In our first part, which you can see here, we looked at some general rules. Below you will find a guide to what you can expect to find in a conveyancing quote of you are a seller.
Conveyancing Quotes – Fees for Sellers
Basic Fee – £300 – £1,200 + VAT
This is the basic cost of the conveyancers’ time. Some conveyancers will implement a flat fee, some will charge per hour (and will almost certainly be the priciest) and most will work it out based on the property’s value. The basic fee will be calculated to cover the firm’s overheads so, if it has swanky offices or pays its conveyancers nice wages it will have a higher basic fee. It’s not uncommon to see differences between basic fees of £500.
If you are selling a leasehold, it’s not unreasonable for conveyancers to add £200 to their fee. There is plenty more work to be done when dealing with this type of property.
Below are the disbursements a conveyancing quote for sellers should contain. They are easy to predict so any company charging much more or less could be up to something.
Land Registry Office Copies – £5 – £10
You need them to prove to the other party that you can sell the property.
Telegraphic Transfer Fee – £20 – £30 + VAT
You will most likely incur this if you need to redeem, or pay off, a mortgage on the property you have just sold. If the amount left to repay is under £60,000 you can do it for free.
Now click here for our guide to conveyancing quotes for buyers.