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Do you usually transfer solicitors fees at same time as deposit?
scottishgirl87
Posts: 689 Forumite
We have had a letter through today from our solicitor who is now obviously closed until Monday so thought I would ask here until then. Basically the letter is requesting transfer of our deposit and provides the bank details for this, however, the amount is over £2000 more than our deposit. Now I'm assuming this is for stamp duty and registration dues, plus the solicitor's fees, would that usually be transferred with the deposit, yeah?
The total amount quoted is still out by about £120 by what I was expecting overall but thought I would receive a separate invoice purely for the solicitor's fees.
The total amount quoted is still out by about £120 by what I was expecting overall but thought I would receive a separate invoice purely for the solicitor's fees.
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He should break down the price and tell you what are you sending money for. There is no reason for you to pay the stamp duty yet, that is done on the end with other charges. You pay solicitor's fee after completion. So it should only be a deposit amount.0
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if I remember rightly I paid the house and stamp duty at same time and solicitors fees after completion. But no doubts they all do things differently.Nice to save.0
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Thanks, both. Definitely going to query it as even if that is what the "extra" is for its still more than £100 more than quoted.0
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when we bought & sold in December last year, our solicitor asked for cleared funds for everything - deposit, solicitor fees, stamp duty & remaining money to purchase.
I queried this a few times with them as I thought normally they only need the deposit money on exchange. But they were adamant.
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When we transferred funds, it was for deposit and fees, stamp duty etc but we had received a completion statement breaking everything down0
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We have just transferred our deposit and it was just the 10% of te purchase price.0
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- Deposit on exchange
- Balance of purchase plus fees at completion0 -
My place wanted all monies up front, I struggled to get a completion statement out of them despite so many requests to pay them money without their bank details!, eventually got a statement so I paid, then a few days before completion they changed their mind and made me pay additional monies I didn't quite understand or they said it would delay completion. Awful experience.0
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We have just completed our purchase 2 weeks ago and we received a breakdown of the costs, and this stated that our solicitor's fees were to be paid along with the deposit. We had no Stamp Duty to pay though so not entirely sure about that. I guess it differs depending on the solicitor.First Time Buyer: Mortgage Offered, Searches complete, Exchanged 21/12/2012, Completion 04/01/2013! :beer:0
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We are in the process of exchanging and I've only been asked to send the 10%. I think it depends on the firm you are using.0
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