Conveyancing quote

mose_2

Got a quote from a local solicitor. Does this look resonable?
It is for a sale of £101000 and purchase of £200000

Costs on Sale £550.00
VAT @ 15% £82.50
Fee for obtaining up to date copies
of your deeds from the Land Registry £34.00
Identity check fee (Per name) £ 6.00
Charge for Telegraphic transfer (redemption) £34.50
Costs on Purchase £550.00
VAT @ 17.5% £82.50
Stamp Duty Land Tax £2,000.00 (up to £200,000.00)
Land Registration fee £150.00 (up to £200,000.00)
Charges for final searches on completion £46.00
Charges for Bankers Telegraphic Transfer
payment on completion £34.50

All properties that are marketed should have a Home Information Pack. This should include the searches. In the event that the pack does not incorporate the searches that meet the minimum requirement of your Lender, or alternatively those we may deem necessary, then these will need to be obtained at a cost of £100.00-£150.00 approx..

If your property is leasehold I very often have to approach your Landlord or Managing Agent for details of such matters as Buildings Insurance, Ground Rent and Service Charges. Unfortunately, Landlords and Managing Agents usually make a charge for supplying that information and, should they do so, then of course that will be a separate payment to that referred to above. As mentioned, given that your property is ex-local authority I would estimate the Local Authorities charges to be approximately £175.00.


Thanks

spectre

looks exactly the same ammounts i was quoted a few weeks back, ok to me,

david29dpo

All Hips contain the Local council & water searches. Dont pay for these. If the searches are more that 5/6 months old, try and get the seller to pay for updates. The rest seems reasonable

Sammy85_2

Costs seem reasonable, very similar to ours.

We are paying for new searches.

I queried it with the solicitor as the HIP searches are only 2 months old.

She said that searches can only be guaranteed as corrrect at the time of the search (the town hall also gave this answer when i checked with them).

She said wouldnt be doing her job properly and professionally if she didnt get new ones herself.

I have to agree with her, i would be pretty miffed if she didnt do them and we later found out that something had changed between the HIP search and purchase. (unlikely in 2months, but why run the risk?)

Richard_Webster

From the info supplied it looks as if you are selling an ex Local Authority flat. This would mean that there would be slightly more work involved than in selling a house and this would be reflected in the fact that the fee is the same as the more expensive purchase - as fees can be charged both for likely time spent and value of property.

The fees themselves are not unreasonable - there's no mention of the common additional fee for completing the SDLT Form, so that's good..

The cost of obtaining official copies of documents from the Land Registry seems rather high but probably assumes that an official copy of the lease will have to be obtained at a cost of £20. If you have a photocopy of the complete lease then you could provide this to the solicitor to save that amount. (In any event it should be in the HIP.)

The only other item I would question are the charges for "final searches on completion." This should be the Land Registry and Bankruptcy Searches and assuming there are two of you, shouldn't normally exceed £11.

DPX

I use a provider and they have come back with htis quote: I am not able to post a link but if you want one PM me a message and i will get it to you

Legal fees for your Sale Legal Fee for Sale (based on a price of £101,000.00) £335.00 ID Check Fee (per name) £13.05
Bank Transfer Fee £35.00 VAT on our fees £57.46
Total £440.51

Expenses to be incurred on your behalf These costs are NOT our FEES and must be paid to 3rd parties such as government agencies (e.g Land Registry) in order to carry out your sale for you.

Land Registry Title Information (obtainable from H.M Land Registry) £8.00
Total expenses to be incurred on your behalf £8.00

Total cost of your Sale £448.51

Legal fees for your Purchase Legal Fee for Purchase (based on a price of £200,000.00) £335.00 ID
Check Fee (per name) £13.05
Stamp Duty Land Tax Return Fee £75.00
Bank Transfer Fee £35.00 VAT on our fees £68.71

Total £526.76

Expenses to be incurred on your behalf These costs are NOT our FEES and must be paid to 3rd parties such as government agencies (Inland Revenue and Land Registry) in order to carry out your purchase for you.
Stamp Duty (based on 1% of the £200,000.00 price) £2,000.00
Land Registry Fee £150.00
Pre-completion Searches £12.00
Searches (HIP Available) £100.00
Total to be incurred on your behalf £2,262.00

Total cost of your Purchase £2,788.76

Total cost of your sale and purchase £3,237.27

This quotation is made on the basis that a Home Information Pack (HIP) is available for the property. If a HIP is not available, the Conveyancer will have to order additional searches which are not included in the above quotation. The fee for our Search Service will therefore be £300.00.

Richard_Webster

I use a provider and they have come back with htis quote: I am not able to post a link but if you want one PM me a message and i will get it to you

Legal fees for your Sale Legal Fee for Sale (based on a price of £101,000.00) £335.00 ID Check Fee (per name) £13.05
Bank Transfer Fee £35.00 VAT on our fees £57.46
Total £440.51

Expenses to be incurred on your behalf These costs are NOT our FEES and must be paid to 3rd parties such as government agencies (e.g Land Registry) in order to carry out your sale for you.

Land Registry Title Information (obtainable from H.M Land Registry) £8.00
Total expenses to be incurred on your behalf £8.00

Total cost of your Sale £448.51

Legal fees for your Purchase Legal Fee for Purchase (based on a price of £200,000.00) £335.00 ID
Check Fee (per name) £13.05
Stamp Duty Land Tax Return Fee £75.00
Bank Transfer Fee £35.00 VAT on our fees £68.71

Total £526.76

Expenses to be incurred on your behalf These costs are NOT our FEES and must be paid to 3rd parties such as government agencies (Inland Revenue and Land Registry) in order to carry out your purchase for you.
Stamp Duty (based on 1% of the £200,000.00 price) £2,000.00
Land Registry Fee £150.00
Pre-completion Searches £12.00
Searches (HIP Available) £100.00
Total to be incurred on your behalf £2,262.00

Total cost of your Purchase £2,788.76

Total cost of your sale and purchase £3,237.27

This quotation is made on the basis that a Home Information Pack (HIP) is available for the property. If a HIP is not available, the Conveyancer will have to order additional searches which are not included in the above quotation. The fee for our Search Service will therefore be £300.00.

Does this assume that the property being sold is leasehold?

See:

If your property is leasehold I very often have to approach your Landlord or Managing Agent for details of such matters as Buildings Insurance, Ground Rent and Service Charges. Unfortunately, Landlords and Managing Agents usually make a charge for supplying that information and, should they do so, then of course that will be a separate payment to that referred to above. As mentioned, given that your property is ex-local authority I would estimate the Local Authorities charges to be approximately £175.00.