Expensive local conveyancing. What are the best options?

Flipjango

We're selling and buying houses in a chain. I've had quotes from several local solicitors for the conveyancing, but the prices are astronomical - we're looking at between £3000 and £4000 just in legal fees, before costs and disbursements. I've had 4 quotes so its not just one isolated expensive quote, I think we're just in an expensive area (Surrey). I'm aware that selling should be relatively simple and so we could use a cheaper conveyancer, but that perhaps we need someone better/more local for the purchase. But also that using 2 solicitors could make completion day a complete nightmare as we'd be waiting for funds to move around. So what to do? Use two solicitors, use a cheaper solicitor up north for both transactions, or just suck it up and pay the crazy fees? 

davidmcn

If in a chain stick with one solicitor. Dare I ask what sort of value of properties we're talking about?

Flipjango

Quite expensive ones to be honest, but we have little actual cash money floating around. Its a long story, but all the money was spend doing up the house we're selling and once we've paid the crazy high stamp duty, the rest is all going into the new house so we don't have much left for £5k in fees. 

Flipjango

I also really hate that the solicitors fees go up so much just cos the house is more expensive. I can't see why it's any more work. 

Thrugelmir

Flipjango said:

I also really hate that the solicitors fees go up so much just cos the house is more expensive. I can't see why it's any more work. 

Professional indemnity insurance. The value of the transaction has to be covered. 

davidmcn

Thrugelmir said:

Flipjango said:

I also really hate that the solicitors fees go up so much just cos the house is more expensive. I can't see why it's any more work. 

Professional indemnity insurance. The value of the transaction has to be covered. 

Indeed, a large part of what you're paying for is the responsibility the solicitors are taking on. If you're buying a £50k property, you (or your lender) can't realistically end up suing them for any more than £50k. Buy a £1m one and you could be suing them for £1m.

Flipjango

That makes sense I guess. Still I think we are also in a VERY expensive area. We could get a solicitor in the north to do it for half that much. 

Tiglet2

Are you using an Estate Agent?  What are their fees in comparison?  Conveyancing fees are generally a lot lower than you will be paying the EA for making a sale.  The legal aspect of selling and buying is far more important than getting people to view and make offers and yet I often see people on here wanting to pay as little as possible.  There are plenty of "online solicitors" you could instruct, just bear in mind that there are some documents which will need to be signed and posted back and your ID will need to be certified by certain professional people if you cannot visit the office in person.

Flipjango

Actually, we sold through an online agent so the fees weren't that much 

bucksbloke

If you want cheap conveyancing, it won't be fast. If you want fast conveyancing, it won't be cheap. You get what you pay for.

Flipjango

Fast probably isn't our greatest concern.