Simple Conveyancing??

timmyt

Terrysdelight wrote: »

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!

to do a decent job, most lawyers will incur MINIMUM time to do any conveyancing purchase of around £500 plus VAT. Mortgage work most lawyers do not charge extra for anyway, but to suggest they go to £400 is not realistic. BY lawyers I mean 'solicitors' and senior (senior I say) legal executives. That is because they are so clever and knowledgeable in their subject that they really do cover all bases for you.

ON-liners are barely legally trained and certianly won't be either a solicitor or legal executive, so you get virtually a cleaner for your no so less in money, but are at massive risk from errors.

for the difference you are saving you expose yourself 100% to problems when you move in and worst, when you come to sell.

So many posts on this website alone to prove people use cheap conveyancers.

G_M

timmyt wrote: »

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

Timmy you really must start to understand which website you are on - it's a MONEYSAVING website. So try to be a little bit more supportive of people who are trying to save money.
Conveyancing IS a major undertaking, with significant repercussions.
Conveyancing CAN be complicated.

But it IS also basically a formulaic process, and in many many cases very straightforward.

For people who have time, a decent education, an ability to follow instructions/processes, a reasonable intellect, and a personal interest in further educating themselves and getting things right, it can be both finacially and more importantly personally satisfying.

As you have often said, there are many professionals in the online market who have little training and do a poor job. I would argue SOME online companies do a perfectly good job, especially in run-of-the-mill transactions.

Equally I've seen atrocious work by 'local' solicitors who you are so quick to recommend.

The last 'DIY' conveyance I did was a house sale - no mortgage. Very straight forward. The buyer used a local 2 partner firm of solicitors. They insisted on Exchange and Completion on the same day. I offered to attend their offices but at their suggestion we agreed the paperwork would be exchanged in my local bank.

On the appointed day I went to the bank. The Buyer (no solicitor) turned up. I checked with the bank staff who confirmed the full purchase price had been TT'd to my account. At this point NO paperwork had been exchanged, not even the signed Contract.

I briefly considered walking out and getting a quick to flight to S America with the funds, keeping the house in my name!

However being a man of honour (!) I signed the contract, Exchanged, and Completed.

That Senior Partner in a local firm had seriously misadvised her client (the buyer).

I, an 'amateur', knew exactly what I was doing. The solicitor appeared to either not know, or not care.

Rant over. And final word to prospective DIYers:

It's a serious undertaking, and the more complex the transaction (leasehold? unregistered land? multiple covenants? Potential Planning/Building regs issues? mortgage to deal with?) the more carefully you should consider your position.

But it can also be hugely satisfying and it guarantees you know everything there is to know about a property you might be buying!

timmyt

G_M wrote: »

Timmy you really must start to understand which website you are on - it's a MONEYSAVING website. Correct, but it is not money saving to go cheap and end up with costly problems...lots of people fail to get that........on-line conveyancers lead to that more than any other provders of conveyancing...obviously, as they are not legally trained sufficiently well, if barely at all on some occassions So try to be a little bit more supportive of people who are trying to save money.
Conveyancing IS a major undertaking, with significant repercussions.
Conveyancing CAN be complicated.

But it IS also basically a formulaic process, and in many many cases very straightforward. Unless you are a conveyancer actually doing the work, then you will realise that this is simply not correct. Every single thing a conveyancer does has a legal implication, every document they read has a legal implication, every document they prepare has a legal implication, so that comment is such bad avice it makes all your posts suspect!

For people who have time, a decent education, an ability to follow instructions/processes, a reasonable intellect, and a personal interest in further educating themselves and getting things right, it can be both finacially and more importantly personally satisfying. Wrong wrong wrong, IT IS A LEGAL PROCESS - make sure you use someone who is legally trained for goodness sake

As you have often said, there are many professionals in the online market who have little training and do a poor job. I would argue SOME online companies do a perfectly good job, especially in run-of-the-mill transactions.

Equally I've seen atrocious work by 'local' solicitors who you are so quick to recommend. A comparison of the two groups is by definition a generaisation, so picking specifics hardly rebuts that. And you know full well that online v local solicitors is a hands down victory for the latter, if picking one group. Go online you stand a greater chance of paying for errors....but like my posts provide, I bring the horse to water...but I cannot stop you making the mistake and then posting your problems on this website.

The last 'DIY' conveyance I did was a house sale - no mortgage. Very straight forward. Never is. Conveyancing never is. The buyer used a local 2 partner firm of solicitors. They insisted on Exchange and Completion on the same day. I offered to attend their offices but at their suggestion we agreed the paperwork would be exchanged in my local bank. And the hassle you caused them and extra legal expense you forced onto their client. Good one, glad you saved a bit of money. I always warn a client to be on guard for what other 'cheapness' the DIY'er has ploughed into their property....its got to be a thought they should consider, even if they conclude all is well .

On the appointed day I went to the bank. The Buyer (no solicitor obviously, as out of the office is @£200 per hour, and clients do not pay that!) turned up. I checked with the bank staff who confirmed the full purchase price had been TT'd to my account. At this point NO paperwork had been exchanged, not even the signed Contract.

I briefly considered walking out and getting a quick to flight to S America with the funds, keeping the house in my name!

However being a man of honour (!) I signed the contract, Exchanged, and Completed.

That Senior Partner in a local firm had seriously misadvised her client (the buyer). Doubtful, very. You do not know what actual advice was given/listened to

I, an 'amateur', knew exactly what I was doing. The solicitor appeared to either not know, or not care. sorry, this doesn't sound right. You only have your side of the story. If you are selling then I would want to hold your part of the contract signed, before we exchnage, and I would be worried about exchnaging, and would suggest simultaneous, as you could not be trusted with release of the deposit to you persoanlly, I'd want your deeds up front and TR1 all signed, it goes on, as does my client's extra fees for doing your job! No saving just pushing expesne onto the Buyer. I would advise my client to ask for your contribution to the extra fees, thus canclling out any saving. And it would be reasonable to ask you too, unless you made it clear when my client put their offer in that you would be doing your own 'conveyancing'. Agents and lawyers always groan when they get a DIY'er. If I found an issue, you wouldn't know what to do and I would have to advise you effectively.

Rant over. And final word to prospective DIYers:

It's a serious undertaking, and the more complex the transaction (leasehold? unregistered land? multiple covenants? Potential Planning/Building regs issues? mortgage to deal with?) the more carefully you should consider your position.

But it can also be hugely satisfying for the lawyer on the otherside who can easily (I am sorry but it happens) get 'one over' on you and it guarantees you know everything there is to know about a property you might be buying!GOD, never ever ever ever ever ever do your own purchasing conveyancing. Good grief I thought you meant sale only. GM, shocking advice to even suggest someone does a purchase!!!!!

GM, I have had banter with you in the past but this post is simply wrong to even suggest someone does their own purchase without legal knowledge!

Ok, it will keep lawyers in jobs to unscamble the mess, but I would rather act for free for a friend or relative thinking of doing that, than let them even attempt.:eek: And I have no agenda in saying that.

G_M

So much I could say in response Timmy, but not a lot of point. We'll never agree!

I could have a similar conversation with a carpenter, or surveyor, or financial advisor. Sometimes one uses them, sometimes one DIYs!

timmyt

Terrysdelight wrote: »

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 on a reposession, are you mad...where history of the owner is unknown.:eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek:- the house appears to be sound no survey either :eek::eek::eek::eek::eek::eek::eek: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 nonsense, searches take 5 mins and most conveyancers do not charge extra for handlign mortgage work less work to do, how can I ask for a reduction in there fees?

What work would the solicitor have to do? good Lord you sound naive.

Normal conveyancing fees in my area seem to be £500 or £600 but that seems crazy to me if there is no survey, foolish and nothing to do with a conveyancers job mortgage see above comment or searches involved :eek:.

Grateful for any advice.
Thanks
Terri

always a set amount of work in any purchase, min fee £450 really.