Purchase and Sale solicitors fees - fair?

g0009348

Hello, I’m currently looking to appoint a Solicitor for conveyancing work on a Sale and purchase.  The sale price is 225k and purchase 325k.  The properties are free hold and there is a mortgage involved.

The first quote I have received is £2400 inc Vat.  Is that a good benchmark as it seems excessive to me.

Thanks

Tiglet2

What does that figure include?

g0009348

Hello, it’s for the above

skm1981

When I was looking, I was getting fees around this mark, but managed to get one down to about £2,000 by just asking them if they could drop the price a bit and they did.  

csgohan4

have you got at least 2 other quotes to compare with? Don't base it one just one quote

greatcrested

I dislike conveyancers who charge extra for SDLT submission - it should be part of the basic fee.

Archiving fee? Why?

No idea what track a matter is but if it's some sort of online monitioring system this should also just be part of their basic fee.

The basic fee of around £500ish  each is reasonable.

All the 'additional' fees are outsie their control and willbe the same wherever you go.

g0009348

Thanks. So I should assume the additional charges that will make it easier to compare quotes.  I’ll check the fees and other charges in the sale and purchase section 

Thrugelmir

g0009348 said:

The first quote I have received is £2400 inc Vat.  Is that a good benchmark as it seems excessive to me.

What do you consider excess about the quote? 

g0009348

I think it was the mortgages fees which weren’t discussed when I was talking to the solicitors, only when the quote was emailed.  I’ll see how the other quotes come through

davidmcn

g0009348 said:

I think it was the mortgages fees which weren’t discussed when I was talking to the solicitors, only when the quote was emailed.

Yes, although there's unarguably extra work and responsibility in acting for the lender in a purchase, I would expect that to be viewed as "standard" (and if you're lucky get a discount for a cash purchase). And £150 just for redeeming the mortgage in a sale is taking the pee. And the archiving / tracking charges are just their overheads, it's like adding a surcharge for their office coffee jar.

But however they want to split it, as long as you are comparing the bottom line fee, that's all that really matters.

GDB2222

Their fee is actually £1632 + VAT. The rest consists of disbursements, such as search fees.
I checked what the charges would be from the solicitor that has helped me quite a few times over the last 20-30 years. His fee would be £1200 + VAT. He does not charge for 'arranging a bank transfer', but he does pass on any bank CHAPS fees (typically £30). He'd also pass on the same disbursements as the other quote.  HTH