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When do you pay solicitor's fees?
amalis
Posts: 532 Forumite
Cant get a clear answer from my solicitor- whed do I pay his fees: on exchaneg or when completing?
On exchange I transfer him my deposit and stamp duty, right? and when do i pay for all searches and service and land registry?
Many thanks!
On exchange I transfer him my deposit and stamp duty, right? and when do i pay for all searches and service and land registry?
Many thanks!
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Comments
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Just goin through the process at the moment. I have been told that the his bill will be the first mail that will come through the letter box on my new houseStarting Mortgage of £133,000 in DecWish me luckTarget £120,000 by 12/12/120
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lowtidesurf wrote: »Just goin through the process at the moment. I have been told that the his bill will be the first mail that will come through the letter box on my new house
oh, thats good news!
it is important for me to know because we are very tight on money and as between exchange and completing can be about a month gap it would give us a possibility to save money on solicitor. We were afraid we have to pay it on exchange.0 -
Solicitor will prepare a 'Completion Statement' at or just after 'Legal Completion' and take the amount he is owed from the proceeds of sale or from the money you have lodged with him. The amount should include all the disbursments they have incurred on your behalf.A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0
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Cant get a clear answer from my solicitor- whed do I pay his fees: on exchaneg or when completing?
On exchange I transfer him my deposit and stamp duty, right? and when do i pay for all searches and service and land registry?
Many thanks!
We're just buying at the moment and had a letter from our solicitors asking for a £300 cheque for disbursements.Bought our last house 9 years ago so cant exactly remember when balance is due etc.
Maybe the £300 for disbursements includes some searches ?The truth shall set you free.....................0 -
I got the bill the day after I recieved the keys to my new place.0
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We paid it at the same time as the rest of our deposit required for completion ...0
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We paid it at the same time as the rest of our deposit required for completion ...
I have to do the same; we are due to complete on 4th September and the solicitors fees are to paid with the balance before we get the keys.Regards, Robin.2011 MFW # 34
Mortgage starting balance at Sept 09 - £127,224 on 30 year term. Currently balance approx £116,945 (Updated Jan '12)
Estimated MFD - [STRIKE]Sept 2039[/STRIKE], April 2031 (in progress!)0 -
what about if i instruct my solicitor now, as I have my mortgage offer, but the place wont be built until early next year...when do i pay??
thanks alot.0 -
what about if i instruct my solicitor now, as I have my mortgage offer, but the place wont be built until early next year...when do i pay??
thanks alot.
Afaik you can't get a formal mortgage offer unless the property is built?
The survey & valuation are an integral part of the formal mortgage application ...
What you have is likely to be an agreement in principle. The "in principle" stands for subject to ... (e.g. status, valuation, etc etc etc etc)!!
Someone will correct me if I'm wrong!!0
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