What are Disbursements when selling

lynzpower

It all seems a bit vague to me? Anyone tell me? I did ask a solicitor this the other day, she muttered a bit about photocopying, but im none the wiser

Anyone know ?

Cheers
lynz
xxx

clutton_2

disbursments are expenses which the solicitor gets charged by other bodies, and which expenses he then charges you. they include things like Local authority Searches, mining searches, water and drainage search, bankruptcy search, land registry search, land registry fee, telegraphic transfer fee etc. Any decent solicitor should send you a list before you employ him or what he charge and what the disbursments are likely to be. They normally want some money for searches up front.

Tassotti

Just to add, the disembursements will be the same cost whichever solicitor you use.

lynzpower

but surely none of these will apply to me when selling?

this is what I dont get, I wont be doing the searches, or transferring any money etc

Bossyboots

clutton wrote:

disbursments are expenses which the solicitor gets charged by other bodies, and which expenses he then charges you. they include things like Local authority Searches, mining searches, water and drainage search, bankruptcy search, land registry search, land registry fee, telegraphic transfer fee etc. Any decent solicitor should send you a list before you employ him or what he charge and what the disbursments are likely to be. They normally want some money for searches up front.

Those are the disbursements for buying. You do not have searches when selling or the land registry fee.

lynzpower, ask your solicitor for a full breakdown of the disbursements. I personally object to being charged separately for photocopying. This is a known overheard cost of the transaction and the initial quote should cover it. Unfortunately, because consumers are trying to drive the costs down the initial conveyancing quote is set low and then extras are added on that would in the past have been all inclusive. In addition, there may be bank fees for telegraphic transfer of your sale proceeds to your bank account. If they are going towards another purchase, watch that you are not charged twice for the same transfer, once in your selling costs and once in your bying costs.

Other than that, there are no disbursements but it does sound to me as though your solicitors are going to slip overhead costs into this category.

lynzpower

A-haaa thanks bossy boots

I did wonder TBH, I do object to be paying photocopying charges, I mean really :wall:

I will phone her again & ask her, although Im still gathering quotes, as I wasnt too happy with the vagueness of that.

Im looking into online conveyancing, such as conveyancing warehouse, as dfarry seems to be having a really good experience with them.

clutton_2

sorry lynz - did not read your OP properly !!

Tassotti

me neither :rotfl:

In the digital age that we are now in, I think it is horrendous that the Telegraphic Transfer Fee is still charged :mad:

Snaggles

Especially as solicitors tend to 'bulk buy' telegraphic transfers - ie they don't pay per transfer, they tend to pay their bank a set fee which covers all the transfers they make - which massively reduces the cost of an individual transfer.......so WHY do they still charge £30 for it????? :rolleyes:

dougk_2

Don't beleive all solictors charge the same either - Some will charge as much as they think they can get away with!

The best way is to negotate a fixed price agreement in case there are problems later on and as with EA's there are loads of solictors about so pdlay them off against each other!