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OMG! Is this reasonable for legal fees?
IHateDida
Posts: 1,670 Forumite
I am buying a new house and selling mine - both with the same solicitors - this is the one recommended by Bovis as we are buying a house from them, and they are 'contrbuting' £500 towards the legal costs if we use their solictors.
I haven't a clue how much things should cost but here is the costs charged by them - are they reasonable or have I been sucked in by the £500 contribution??? It seems like they are on the make to me as I didn't expect to pay quite so much but I really don't have a clue so would appreciate advice! The cost of my new house is £228,500 (negotiated down from £245k), and the sale of my current house is £159,950.
Solicitors fee= £1140
VAT thereon=£199.50
Fee for the preparation of the Inland Revenue Stamp Duty Land Tax return =£75
VAT thereon=£13.13
Land registry fee=£220
Local Search fee=£170
Envirosearch (which we have requested) =£45
Builders engrossment fee (I haven't a clue what this is)=£70.50
Telegraphic Transfer fee (I haven't a clue what this is)=£29.38
Office copy entry fees (????)=£7.95
Final search fees (????) approx=£15
Can anyone help me please? This is the first time I have bought and sold a house - are these reasonable charges (bearing in mind that we will get £500 reimbursed by Bovis)?
Thankyou
I haven't a clue how much things should cost but here is the costs charged by them - are they reasonable or have I been sucked in by the £500 contribution??? It seems like they are on the make to me as I didn't expect to pay quite so much but I really don't have a clue so would appreciate advice! The cost of my new house is £228,500 (negotiated down from £245k), and the sale of my current house is £159,950.
Solicitors fee= £1140
VAT thereon=£199.50
Fee for the preparation of the Inland Revenue Stamp Duty Land Tax return =£75
VAT thereon=£13.13
Land registry fee=£220
Local Search fee=£170
Envirosearch (which we have requested) =£45
Builders engrossment fee (I haven't a clue what this is)=£70.50
Telegraphic Transfer fee (I haven't a clue what this is)=£29.38
Office copy entry fees (????)=£7.95
Final search fees (????) approx=£15
Can anyone help me please? This is the first time I have bought and sold a house - are these reasonable charges (bearing in mind that we will get £500 reimbursed by Bovis)?
Thankyou
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Comments
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The solicitors fees seem quite a lot but I am comparing to my recent transaction which was a purchase only and no sale so less work I guess? Someone who has done the same as you will be able to comment better.
The search fees look OK, not sure about land registry fee, that seems like a lot? As is the fee for preparing the SDLT return - it's only a few pages with a couple of figures to enter...
The engrossment fee is a charge the builders make for drawing up the contract documents I think - I was charged £117.50...! TT fee is to send money electronically from the solicitors to the seller's solicitors - usually about £20 I think?
Either way, I would present your case to another firm of solicitors (independent from your sellers) and ask for a quote to compare - it could be that your quote is boosted by £500 to pay for the kickback that your builder's are giving you.0 -
well my sols fees were about £250 plus all the disbursements.
so yeah looks like their "discount" is not really much of a discount! lol
ring the solicitors up or ask a family member to asking for a quote of their fees for buying & selling plus disbursements, i'm sure that figure will probably half.
the SDLT form i got quoted £100 + VAT, got a local firm to do it for £35-50 can't remember now, took them about 15 mins!0 -
you can fill out the SDLT form yourself I believe.:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
Can you also do your own land registry? I looked on the gov website and it says that it is offering 25% reduction for voluntary first registrations which would bring our cost down to £165. But how would I do it - and at what point?0
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You can actually do the whole lot yourself - borrow a book on DIY conveyancing from the library if you are determined to do this. I have been there, got the t-shirt and would advise using a conveyancing company rather than go through it again (although it was interesting to learn what goes on).
You will still have to pay things like Land Registry fees - I did a quick Google and it looks as if these are around £70 on a £245k house, so you weren't being ripped off there!Ex board guide. Signature now changed (if you know, you know).0 -
jobbingmusician wrote: »You can actually do the whole lot yourself - borrow a book on DIY conveyancing from the library if you are determined to do this. I have been there, got the t-shirt and would advise using a conveyancing company rather than go through it again (although it was interesting to learn what goes on).
You will still have to pay things like Land Registry fees - I did a quick Google and it looks as if these are around £70 on a £245k house, so you weren't being ripped off there!
Thanks but my land registry fees are £220 - looked on the gov website and it says that you can get a 25% reduction for voluntary ones - has anyone ever done this? Is it easy?0 -
It isn't too much out of line. Solicitors are expensive animals. try Google for alternatives - they do exist!Be ALERT - The world needs more LERTS0
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Just selling our house - our solicitors is £540 + VAT, plus all the searches etc. Don't forget the stamp duty too.0
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