Solicitor fees with regards to part exchange for new build

JJB51

Hello all,


Just looking for a bit of advice regarding solicitor fees.


We are buying a new build from Barratt via Part exchange.

Agreed price for our leasehold apartment was £78750 and the purchase price of the new build freehold is £215000.


I have asked a local solicitors for an estimate and got the following back.


£800 to sell mine, I was under the impression Barratt took care of all the work of selling mine?


£3200 to buy my new property which includes £1800 Stamp duty so £1400.


Does that sound about right? Any information on these sorts of things would be great!

Thank you

davidmcn

Jbennett51 wrote: »

£800 to sell mine, I was under the impression Barratt took care of all the work of selling mine?

You're still selling it, but to Barratt. From the solicitor's point of view it's pretty much a normal sale.

JJB51

Ah thank you. It is all quite new. I assume the "saving" in terms of Barratt buying is down to the sale fee that an estate agent would normally take for selling on my behalf?

SmashedAvacado

You need to separate the fees from the VAT and disbursements. The SDLT is not a fee - its something you are obliged to pay to HMRC although your solicitor will do that for you. the £1400 you have mentioned as the balance, is that ecl VAT or inc VAT? Is it including disbursements?