Buying a small plot of land, solicitors cost?

jblakes

Pretty much as above. We have agreed a price of 1.5k for a plot of land.

Just wondering what sort of solicitors cost I should expect? Never just purchased land so don't want to get over charged

Regards James

Thrugelmir

Ring several and obtain quotes. 

justworriedabit

jblakes said:

Pretty much as above. We have agreed a price of 1.5k for a plot of land.

Just wondering what sort of solicitors cost I should expect? Never just purchased land so don't want to get over charged

Regards James

Hi OP

Depends a lot on if its freehold, brownfield, etc etc

We've only bought and sold property but i guess its the same

Consider stamp duty costs, searches, etc and go for at least two if not three quotes and ask them whats included 

The more questions you/sellr raises or comes out and if mortgages are involved it will cost a bit more.

Some solictors are open half day Sats so call them or Monday - you will get a quick indication. 

GDB2222

Is this a registered plot?

Is it being carved off something else?

justworriedabit

ps - don't forge tht eother fees and bank transfer fees if over an x amount.

jblakes

It's part of houses next door front garden, so assume on there deeds.

Just wondered what sort I should be expecting. Only 1.5k so be abit miffed it's going to cost same again to transfer it.

Regards James

Tiglet2

jblakes said:

It's part of houses next door front garden, so assume on there deeds.

Just wondered what sort I should be expecting. Only 1.5k so be abit miffed it's going to cost same again to transfer it.

Regards James

It may well be a similar cost.  The work is the same whatever the size of the plot.  Also, if this land is being transferred out of another title, it will be a Transfer of Part. which will involve a bit more work than a straight forward Transfer of Whole.  I assume it is a cash purchase, so no lender involvement.

jblakes

Yeah paying by cash. I guess I will just phone a few up and ask 👍

Thrugelmir

jblakes said:

Just wondered what sort I should be expecting. Only 1.5k so be abit miffed it's going to cost same again to transfer it.

Time costs the same. 

Davesnave

jblakes said:

It's part of houses next door front garden, so assume on there deeds.

Just wondered what sort I should be expecting. Only 1.5k so be a bit miffed it's going to cost same again to transfer it.

Regards James

 Would you be happier if you'd paid £5k for the land, or £20k?

 We don't know the details, but whether it is worth the total cost of ownership to you depends on two things:

the extra facilities/pleasure it provides you in the future
the amount it improves the desirability (and thus value) of your property

GDB2222

When we did something similar, the total cost for the solicitor and the surveyor came to £2k. You’ll need to submit a plan to the land register, which is where the surveyor comes in.

You don’t need to do searches, as the land is cheap. You can tell the solicitor that you don’t want a report on title.

Do either you or your neighbour have a mortgage?