When can solicitors bill you for conveyancing?

SloppySue

I'm completing on a property next month and my solicitors expect their fee in full before completion. Am unhappy about this as want to be certain they've done the job right. Is this standard practice? And wouldn't that mean they are paying themselves from my client account? Any advice welcomed! Thanks

[Deleted User]

From my limited experience in property purchase, the fees get paid at time of completion.

HappyMJ

I would have thought so too. Maybe the amount of money you have given them isn't enough to complete. They need the deposit, the mortgage amount and the fees all to be ready on the day of completion. You could pay them in cash the day before if you like but don't expect the conveyancer to be in any rush as they have to pay some disbursements earlier than the date of completion.

You don't normally pay after completion.

casualwalks

When I bought my house last year, we had to pay in full before completion.

loubel

It is usual to pay either on exchange of contracts or on completion, which means they need the money in their account prior to completion.

Gonzo33

SloppySue wrote: »

I'm completing on a property next month and my solicitors expect their fee in full before completion. Am unhappy about this as want to be certain they've done the job right. Is this standard practice? And wouldn't that mean they are paying themselves from my client account? Any advice welcomed! Thanks

Are you buying or selling or both? If selling they will normally take it on the day of completion unless there is insufficient equity to do so, and if you are buying it is normal for the fee's to be paid prior to completion.

cattie

I've always paid on completion, but have always made on past property sales so plenty of money in the kitty for my solicitors fees.

Soot2006

We paid in advance of completion in the sense that we organised the transfer a few days before to make sure the money would all be there (several accounts) on the day of completion ... We received a notice with all monies required to complete just before exchange so we knew exactly what was happening when ... We completed 7 days after exchange, so organised the transfer right away ...

billybear1

Our solicitors expected funds cleared prior to exchange. I assume to ensure no hiccups between exchange and completion, which is fair enough in my yes

Richard_Webster

It is pretty normal for conveyancing solicitors to want all the money in their client account before completion. If they took the risk and didn't get paid until after wards there would be bad debts and they would have to increase their charge generally to make a provision for bad debts.

In terms of being satisfied that it has all been done properly - obviously if you get to move in to the new house that's a pretty major part of it - but the difficulty is that if they have simply advised you sign a number of documents and haven't explained them to you or told you about small risk factors you should take into account then it could be several years before you discover that the work had not been done properly!

peterpownall

I am a Licensed Conveyancer (specialist property lawyer) with over 40 years' experience working for a firm of solicitors.
On a purchase where the whole of the purchase money and legal costs are not being provided by a sale you will be asked to provide the balance of the money by cleared funds by the day of completion.
I expect your solicitor has provided you with a completion statement at this time to give you sufficent time to provide him with the balance so as completion will not be delayed. This is on the assumption you have already paid your deposit and exchanged contracts.
I always request my clients to provide the balance of the funds by the working day prior to the agreed completion date