We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
"No move, no fee" Conveyancy fee's advice please
Options
englishrob
Posts: 33 Forumite
I have had my property on the market for over a year and had appointed an online conveyancy firm who operate a "no move, no fee" policy as long as the transaction falls through due to circumstances outside of my control.
During the year I had 2 sales, unfortunately both fell through for different reasons. On the first occasion, the buyer pulled out and on the second occasion the buyer was refused a mortgage.
I had also been requested to pay £230 deposit to the conveyancy firm.
Some 5 months after the last transaction had fallen through, I have now received an invoice for £450 conveyancy fee.
Am I obliged to pay this as the sales fell through outside of my control?
If not, should I ask for my deposit back?
I would be grateful of any advice.
Many thanks,
Rob
During the year I had 2 sales, unfortunately both fell through for different reasons. On the first occasion, the buyer pulled out and on the second occasion the buyer was refused a mortgage.
I had also been requested to pay £230 deposit to the conveyancy firm.
Some 5 months after the last transaction had fallen through, I have now received an invoice for £450 conveyancy fee.
Am I obliged to pay this as the sales fell through outside of my control?
If not, should I ask for my deposit back?
I would be grateful of any advice.
Many thanks,
Rob
0
Comments
-
What were the precise terms of your contract with the firm?No reliance should be placed on the above! Absolutely none, do you hear?0
-
Why were you required to pay a deposit when, if I understand you correctly, you may never have been liable for any costs?
"Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 20100 -
What were the precise terms of your contract with the firm?
Under the heading of "Charges and Expenses" is the following....
The estimated fees and expenses are listed on the Conveyancy Charges sheet contained within your attached information pack.
In arriving at these figures I have assumed that your case will be of a "standard" nature. I have to reserve the right to charge additional fees if your case involves additional work. I have attached a list of additional fees, which I will charge if appropriate and which will be shown in your final bill.
It is our aim to protect clients that are victims of a collapsing chains or gazumping but not to protect the people that cause chains to collapse. We therefore operate a "no move-no fee" policy provided the transaction falls through due to circumstances outside of your control. Otherwise, you will be charged a percentage of the fees depending on the amount of work that we have carried out on your transaction.
Thanks for your interest.
Cheers,
Rob0 -
Why were you required to pay a deposit when, if I understand you correctly, you may never have been liable for any costs?
Well, we all expected the sale to go through smoothly.
But to quote from their literature......
"It is normal practise to ask clients to make payment on account at the beginning of a transaction. These payments help to meet some of the expenses detailed and help to avoid delaying progress in the matter. In this case, we will therefore need a payment on account of £230
Thanks for your interest,
Cheers,
Rob0 -
englishrob wrote: »Well, we all expected the sale to go through smoothly.
But to quote from their literature......
"It is normal practise to ask clients to make payment on account at the beginning of a transaction. These payments help to meet some of the expenses detailed and help to avoid delaying progress in the matter. In this case, we will therefore need a payment on account of £230
Thanks for your interest,
Cheers,
Rob
Hmmm...it's normal practise of most conveyancers not to ask for any payment until they've actually done the job!
It is true that they sometimes want payment up front for their disbursements, but if this is a simple sale then that normally is restricted to the cost of obtaining the deeds from the mortgage company - about £50 (although sometimes the mortgage company just adds this fee to your account with them rather than billing the conveyancer)
What expenses has this conveyancer detailed?"Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 20100 -
What expenses has this conveyancer detailed?
On the sale of my property, it seems like they are "offering" it to me at half price as they have marked everything at 50%
The charges are for "Taking instructions, drafting contract and submitting to purchaser's solicitors, effecting exchange of contracts, approving draft transfer, Deeds/postage fee, Mortgage fee, Title fee, Managing Agents fees and Office Copy Entries".
On the purchase of the property we wanted, again at 50%.
The charges are for "Taking instructions, perusing title and raising requisitions, drafting transfer and obtaining approval of the same, obtaining your execution of all necessary document, Deeds postage fee, Mortgage fee, Chancel search, Coal mining search and Local search".
Some months ago, I also advised by my solicitors that I had to pay £45 to my current Residents Association for information supplied to my solicitor. The Residents Association thought it unusual as this fee is normally added on at completion.
Many thanks,
Rob0 -
It is our aim to protect clients that are victims of a collapsing chains or gazumping but not to protect the people that cause chains to collapse. We therefore operate a "no move-no fee" policy provided the transaction falls through due to circumstances outside of your control. Otherwise, you will be charged a percentage of the fees depending on the amount of work that we have carried out on your transaction.
That seems reasonably clear. I would point it out to them and ask them to explain. The 50% is presumably the proportion of the full job that they reckon they carried out abortively. I would just check that there is nothing else in any of the documentation that covers this situation, as it would be a bit daft of the solicitors to leave themselves open to going through this process for you umpteen times without any charge at all.No reliance should be placed on the above! Absolutely none, do you hear?0 -
Thanks for your replies.
I spoke to them and they will be getting back to me by email after reviewing if they are going to waive it.
Once I know where I stand, I might ask for my £230 back too!
Cheers,
Rob0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards