Simple Conveyancing??

Terrysdelight

Hi

I wonder if anyone can offer some advice. I have just had an offer accepted on a freehold repossession. I will be buying the property cash - no mortgage involved. I don't feel the need to do any searches - the house appears to be sound and I know the area like the back of my hand. The price is fixed so I can't renegotiate if anything came up. Obviously I could pull out of a sale but I do feel confident.

Because the solicitor will have a lot less work to do, how can I ask for a reduction in there fees?

What work would the solicitor have to do?

Normal conveyancing fees in my area seem to be £500 or £600 but that seems crazy to me if there is no survey, mortgage or searches involved.

Grateful for any advice.
Thanks
Terri

Richard_Webster

Problem is that afterwards if something goes wrong you may ask your solicitor why he didn't find about whatever it was. So if you don't want searches and other stuff checked then solicitor still has to write longish explanatory letter pointing out all things he can't find out because you didn't want searches etc done.

So there isn't much saving in time - but why don't you contact some solicitors for estimates and explain the position - see what they say.

G_M

As Richard says, it's all down to negotiation. Some solicitors will be more willing to negotiate than others.

Or you could always do the conveyancing yourself.

(I await TimmyT and Richard's response to this suggestion with anticipation!)

Terrysdelight

G_M wrote: »

As Richard says, it's all down to negotiation. Some solicitors will be more willing to negotiate than others.

Or you could always do the conveyancing yourself.

(I await TimmyT and Richard's response to this suggestion with anticipation!)

That sounds interesting.

timmyt

glad to oblige.

DIY conveyancers dont know what they are doing so 1. they can be taken advantage of and 2. they also mean the other party's lawyer does more work and so can charge his client more. nice little earner

so i am glad to be on the other side of a DIY'er.

but amusement aside, don't do your own conveyancing. even many conveyancers cannot do the process right!

asc99c

I'd say do the conveyancing yourself. I don't believe there is all that much to the process. My father did his own conveyancing on his last purchase, on a mortgaged property. As I understand, the Land Registry were willing to explain most of the required steps for the cost of the phone call. And really all it came down to was filling in a few standard forms. However, the £500 costs you're quoting I suspect must include the costs of searches etc. I moved house in 2007, and the bit of the conveyancing fee that actually went to the conveyancer was only £275.

Disclaimer: I've never done my own conveyancing...

Terrysdelight

timmyt wrote: »

glad to oblige.

DIY conveyancers dont know what they are doing so 1. they can be taken advantage of and 2. they also mean the other party's lawyer does more work and so can charge his client more. nice little earner

so i am glad to be on the other side of a DIY'er.

but amusement aside, don't do your own conveyancing. even many conveyancers cannot do the process right!

I hear what you are saying, but I can't help but feel just a little bit tempted to have a go myself. It really is a straight forward transaction. Seller and Buyer only. Cash sale - so no mortgage. Below stamp duty. Freehold so no messy leases to worry about.

I probably won't bother myself this time, but I'm intrigued to know the process now.......

G_M

timmyt wrote: »

but amusement aside, don't do your own conveyancing. even many conveyancers cannot do the process right!

There are, of course, many arguements both in favour of, and against, DIY conveyancing. A seach on this forum for 'DIY conveyancing' will find relevant discussion threads which have previously gone over them.

But thanks, Timmy, for the above comment: one of the arguements in favour is that, as a self-interested DIYer, you are likely to spend a lot of time, and care, in getting it right!

Whereas "even many conveyancers cannot do the process right" !!

There are many books on the subject

Like the original, but now dated, classic the 'Conveyancing Fraud' here

or the Which Guide here

or this here
or .........
Try your local library.

timmyt

asc99c wrote: »

I'd say do the conveyancing yourself. I don't believe there is all that much to the process. My father did his own conveyancing on his last purchase, on a mortgaged property. As I understand, the Land Registry were willing to explain most of the required steps for the cost of the phone call. And really all it came down to was filling in a few standard forms ha ha excellent naivity, sounds like there will always be a job for the lawyer to unscramble things with that sort of knwoledge . However, the £500 costs you're quoting I suspect must include the costs of searches etc. I moved house in 2007, and the bit of the conveyancing fee that actually went to the conveyancer was only £275. you got the cleaner, good luck on any attempted resale, goodness knows what they would have cut corners to keep to £275

totally gibberish. the Land REgistry play no part in the conveyancing process, they only advise about therir forms.
Disclaimer: I've never done my own conveyancing...

doing your own means you are cheap and what cheapness have you injected in the house.

timmyt

Terrysdelight wrote: »

I hear what you are saying, but I can't help but feel just a little bit tempted to have a go myself. It really is a straight forward transaction. you don't knwo anything about a sale contract, you don't know anything about protecting your replies from giving too much of a warrnaty, you will need a lawyer to hold any deposit, and there are other things to be aware of which you are making the Buyer have their lawyer do for you meaning you shift your fees o the buyer...not a great start and yet, the buyer's lawyer will be pleased as they will have one up on you......you will also eed to have your ID taken and an ID1 form completed by a lawyer.....all a major painSeller and Buyer only. Cash sale - so no mortgage. Below stamp duty. Freehold so no messy leases to worry about. you won't know what to do if asked to pay indemnity insurance if there are issues with your deeds that your last lawyer got wroing (or did you do that yourself :eek:)

I probably won't bother myself this time, but I'm intrigued to know the process now.......

see how you get on though...

Terrysdelight

timmyt wrote: »

see how you get on though...

Yuk - scarey! No - not going to do it! I've ordered the 'Which Guide on Conveyancing' - purely to give myself some insight.

Got some quotes in from local solicitors and the cheapest they want is £550 + vat for the conveyancing - searches are all extra and are in excess of £200, plus other disbursements.

Think I will go with one of the cheaper on-line conveyancing. You'd think the solicitors would reduce their fees by about £100 for the fact they don't have any mortgage to deal with!