When are conveyancing fees generally paid?

sterl1ng

I thought it was after all completed then get final bill but get impression from solicitor that it's on day of completion!

LEJC

I believe it varies...
With our recent purchase we had to pay for searches up front...
The majority of the bill balance was handed over on exchange...
A final bill was paid just after completion which was the final amount..


In total I think it was around £1000..but that did include a payment back to the seller for upfront management costs till the end of the year.

loubel

Usually on completion, sometimes on exchange.

G_M

Buying or selling?

If buying, the solicitor will send you a Completion Statement and expect payment before Completion. That will include his costs, the HMRC costs for Stamp Duty (which he will pay post Completion), costs of the various searches, cost of acting for any mortgage lender etc etc. Oh - and the cost of the purchase of course!

He is unlikely to Complete for you unless you have paid.

In a sale, he will likewise send you a Completion Statement, but wll take his costs (and your estate agents etc etc) from the money received from the sale on Completion, before passing you any balance.

If you are buying and selling, the Completion statement will balance out all the incoming money and outgoing money, and provided it balances he'll proceed. If he needs any extra cash, he'll expect it upfront.

Occassionally some extra cost may arise later, after Completion, and you'll get an additional bill.

Affinity99

We exchanged last week and we received the bill from our solicitor today and paid it , it included their conveyancing fees, estate agents fees, searches, stamp duty ect

dotdash79

I pid on completion for everything, but my solicitor knows me and my family quite well so it might be different. They should tell you in the initial letter how and when fee are to be paid.

TBagpuss

G_M's post sets out the most common arrangements. If you are buying, you will normally have to pay up front for the searches and other disbursements, as otherwise the solicitor is effectively lending you that money!

Kirstyb1987

Mine was prior to exchange. She gave me bill and deposit amount.


Paid £175 at the beginning for searches.