Solicitors/Conveyancing Costs

Mummytobe

Hi hope someone can help me....

Put offer in for a house and it was accepted and now looking for a solicitors. I have had 3 quotes...1 from the solicitors that the estate agent recommended, 2nd from a random one in the yellow pages and 3rd from a company called 'Save Money Conveyancing' who gave a quote which was £300 less using the same solicitors that the 1st quote was from.

What would you do if you was in my situation and has anyone had any experience of online websites such as http://www.selectconveyancing.com/ where you put your details in and they quote....

any advice would be greatly appreciated.

Cheers.

sarah_elton

When I'm buying, I want the best solicitor I can find and probably wouldn't use an online one. I want to make sure they're thorough and will find out if I'm buying a dud house.

When selling, cheapest around so long as they can progress it at a reasonable pace.

Mummytobe

Yeah thats true but with the 3rd quote it used a good solicitors but at a cheaper cost...wouldnt you go for that??

QTPie

Mummytobe wrote: »

Yeah thats true but with the 3rd quote it used a good solicitors but at a cheaper cost...wouldnt you go for that??

I would first ask "what is the catch"... It "seems" to fall into the category "it seems to be too good to be true, so it must be". I would be very suspicious.

You probably want to check the inclusions and exclusions of each quote: are they both quoting JUST for the fees or does the first one include an estimate the the searches and registraton etc? That could explain £300 difference.

If it is EXACTLY the same solicitors doing the work, then they just about always have the same basic hourly rate... if the online quote is that much cheaper, it is probably for a reason (you will get stung for - non-optinal - extras elsewhere probably).

Not trying to be pesimistic, but check VERY carefully what each quote includes.

Good luck
QT

Mummytobe

QTPie wrote: »

I would first ask "what is the catch"... It "seems" to fall into the category "it seems to be too good to be true, so it must be". I would be very suspicious.

You probably want to check the inclusions and exclusions of each quote: are they both quoting JUST for the fees or does the first one include an estimate the the searches and registraton etc? That could explain £300 difference.

If it is EXACTLY the same solicitors doing the work, then they just about always have the same basic hourly rate... if the online quote is that much cheaper, it is probably for a reason (you will get stung for - non-optinal - extras elsewhere probably).

Not trying to be pesimistic, but check VERY carefully what each quote includes.

Good luck
QT

I understand what you are saying and i did ask this question when the quote was given. They said that the company that gave me the cheaper quote have contacted the solicitors and asked for their best price and this is what is given. The difference with going directly to the solicitors is that "they can charge whatever they want".... I understand that both quotes include everything. The small print also says "this quotation is valid for a period of 60 days from production and can be recalled from www.savemoneyconveyancing.co.uk during this period. Once instructed the legal fees are protected against any fee increases we may subsequently introduce."

QTPie

Mummytobe wrote: »

I understand what you are saying and i did ask this question when the quote was given. They said that the company that gave me the cheaper quote have contacted the solicitors and asked for their best price and this is what is given. The difference with going directly to the solicitors is that "they can charge whatever they want".... I understand that both quotes include everything. The small print also says "this quotation is valid for a period of 60 days from production and can be recalled from www.savemoneyconveyancing.co.uk during this period. Once instructed the legal fees are protected against any fee increases we may subsequently introduce."

Have you considered going back to the original solicitors and asking them to price match?

What sums are we talking about? What are the solicitors asking for in fees (if you use them direct)?

QT

Mummytobe

QTPie wrote: »

Have you considered going back to the original solicitors and asking them to price match?

What sums are we talking about? What are the solicitors asking for in fees (if you use them direct)?

QT

Oooh good point i will have to that! The figures are £858 versus £563....

sdooley

I understand that both quotes include everything.

That website indicates that disbursements (e.g. searches) are passed on at cost (i.e. are additional to the price quoted). They also seem to quote seperately for the sale fees and HIPs. Plus the colours make my head hurt.

QTPie

Mummytobe wrote: »

Oooh good point i will have to that! The figures are £858 versus £563....

Worth a try....

I don't know, I just strongly dislike using middlemen of any nature... They are supposedly offering you a 30% cheaper price (AND they will have some commission, for themselves, built into that somewhere): you just have to ask yourself "how?"

Is that value JUST the fees or the fees + searches? What are the "fee only" elements of the quotes?

QT

Mummytobe

QTPie wrote: »

Worth a try....

I don't know, I just strongly dislike using middlemen of any nature... They are supposedly offering you a 30% cheaper price (AND they will have some commission, for themselves, built into that somewhere): you just have to ask yourself "how?"

Is that value JUST the fees or the fees + searches? What are the "fee only" elements of the quotes?

QT

The fees are £400 plus vat versus £285 plus vat of £42....

Mummytobe

QTPie wrote: »

Worth a try....

I don't know, I just strongly dislike using middlemen of any nature... They are supposedly offering you a 30% cheaper price (AND they will have some commission, for themselves, built into that somewhere): you just have to ask yourself "how?"

Is that value JUST the fees or the fees + searches? What are the "fee only" elements of the quotes?

QT

The value is as follows:

Our Legal Fees: [URL="javascript:"] [/URL]
£285.40
£42.81
Telegraphic Transfer (estimated): [URL="javascript:"][/URL]
£30.00
£4.50
Mandatory Identity Checks (£5.00 + VAT per person): [URL="javascript:"] [/URL]
£5.00
£0.75
Disbursements (Associated Costs)

Land Registry Search: [URL="javascript:"] [/URL]
£6.00
£0.00
Environmental Search:
£34.00
£5.10
Bankruptcy Searches (£2.00 per person): [URL="javascript:"] [/URL]
£2.00
£0.00
HM Land Registry Fees: [URL="javascript:"] [/URL]
£150.00
£0.00
Total Cost for instruction is: £565.56

Stamp Duty Tax: [URL="javascript:"] [/URL]
£0.00
£0.00
Total Cost inc Stamp Duty: £565.56

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