Do you have to pay solicitor fees even if you don't get a property or a mortgage?

Chris94

I was told my my mortgage advisor I'd pay the solicitor fees just before moving into a property.

However, what if my offer on a property is outbid or I decide not to buy a property after all or my mortgage application is declined? Do you still have to pay any fees for the solicitor or whatever else?

Or do you only pay fees once you actually successfully buy and move into a property?

student100

You wouldn't normally engage a solicitor until you are ready to proceed with conveyancing i.e. after you have agreed an offer, have mortgage decision in principle etc.

After that it depends on the solicitor. Many have "no completion no fee" deals but you will still have to pay an advance up front to cover "disbursements" i.e. the costs of doing searches etc and you won't get this back once the solicitor has ordered the searches. Really only the solicitor can tell you what costs you will incur and at what point.

Generally they will want their fees paying ready for completion or possibly before exchange of contracts.

davidmcn

student100 wrote: »

You wouldn't normally engage a solicitor until you are ready to proceed with conveyancing i.e. after you have agreed an offer, have mortgage decision in principle etc.

The OP is buying in Scotland, so he would be engaging a solicitor at least at the point of making a formal offer. Generally they will tolerate some unsuccessful offers without a fee on the basis you'll eventually get somewhere, but if you are successful and then more work is involved before you get to the stage of (not) getting a mortgage offer, you may well need to pay a fee. Something to ask when you're getting a fee quote.

glasgowdan

Most conveyancing solicitors don't charge for unsuccessful bids. Of course, you usually make an informal verbal offer first. If the sellers are interested in it, or if the property goes to a closing date, then you'll be making an offer through a solicitor. You can get your mortgage offer well before any conveyancing work is done. I think they last 3 months or something like that, so get onto a mortgage lender right away if you've had an offer accepted.

student100

davidmcn wrote: »

The OP is buying in Scotland

OK - not sure how I was supposed to know that....

davidmcn

student100 wrote: »

OK - not sure how I was supposed to know that....

Well, the hint is his concern about solicitors fees if he's only at the making offers stage, and can be clarified by looking at his not particularly extensive posting history.

While it's useful for posters to clarify which jurisdiction they're talking about, it's also wise not to presume that they're in England or Wales.

sheff6107

Depends on the solicitor. Obviously the work has been done, whether or not the buyer has the keys in their hands at the end.

Some solicitors do a no completion no fee deal or offer no completion insurance.