How often do you want/expect solicitor updates?

Thrugelmir

mjane93 said:

We are all keen to complete by mid August

Then you've plenty of time. Now that the 30th June cliff edge has past. Once all the tidying up admin is complete. Calm and normality will return. 

BikingBud

pluto261 said:

I'm also new to this, but not quite as new as you (offer accepted and solicitors instructed in mid-May) so I'll tell you what I've learned over the last couple of months.

Basically, on the pay scale of lawyer services, conveyancing is very very very cheap. So conveyancers make money by having 120-140 conveyancing cases open at any given time. There's only actually about three hours of work involved for each case, but the volume of them means that they're basically doing stuff on a conveyer belt system and updating clients is extremely low on their list of priorities. 

But it is a priority for the client and they're paying top dollar, £3-400 per hour then why can't they assert that?

Kyresa

pluto261 said:

Basically, on the pay scale of lawyer services, conveyancing is very very very cheap. So conveyancers make money by having 120-140 conveyancing cases open at any given time. There's only actually about three hours of work involved for each case, but the volume of them means that they're basically doing stuff on a conveyer belt system and updating clients is extremely low on their list of priorities. 

.

Three HOURS?  That'd be lovely!  I can spend 6 or 7 hours having to deal with a leasehold purchase alone by the time I have dealt with freeholders/management companies/title checks/reporting/notice requirements etc etc

jazzyja

Kyresa said:

pluto261 said:

Basically, on the pay scale of lawyer services, conveyancing is very very very cheap. So conveyancers make money by having 120-140 conveyancing cases open at any given time. There's only actually about three hours of work involved for each case, but the volume of them means that they're basically doing stuff on a conveyer belt system and updating clients is extremely low on their list of priorities. 

.

Three HOURS?  That'd be lovely!  I can spend 6 or 7 hours having to deal with a leasehold purchase alone by the time I have dealt with freeholders/management companies/title checks/reporting/notice requirements etc etc

Still works out at approx £180-200 and hour. I dont think there's much justifying it if I'm being perfectly honest. 

Kyresa

jazzyja said:

Kyresa said:

pluto261 said:

Basically, on the pay scale of lawyer services, conveyancing is very very very cheap. So conveyancers make money by having 120-140 conveyancing cases open at any given time. There's only actually about three hours of work involved for each case, but the volume of them means that they're basically doing stuff on a conveyer belt system and updating clients is extremely low on their list of priorities. 

.

Three HOURS?  That'd be lovely!  I can spend 6 or 7 hours having to deal with a leasehold purchase alone by the time I have dealt with freeholders/management companies/title checks/reporting/notice requirements etc etc

Still works out at approx £180-200 and hour. I dont think there's much justifying it if I'm being perfectly honest. 

People never do, because you are paying for knowledge.   My charge out rate is £240 plus VAT.  That'd put the true cost of a leasehold conveyance at about £1680 plus VAT.  I'm lucky if I can beg for £800 plus VAT these days. 

Of course I expect most solicitors wish they didn't have to pay for offices, heating, electricity, stationery, admin staff, reception staff, computer equipment and software, solicitors indemnity insurance (FYI, professional indemnity insurance is about £20,000 upwards per year alone), law society membership, buildings and contents insurance and all the other lovely overheads that come with a business, but unfortunately it's required to be able to do the job.   

Out of interest.. what do you think would be a fair rate to pay for 7 hours work on your file bearing in mind all the above ?  

jazzyja

Kyresa said:

jazzyja said:

Kyresa said:

pluto261 said:

Basically, on the pay scale of lawyer services, conveyancing is very very very cheap. So conveyancers make money by having 120-140 conveyancing cases open at any given time. There's only actually about three hours of work involved for each case, but the volume of them means that they're basically doing stuff on a conveyer belt system and updating clients is extremely low on their list of priorities. 

.

Three HOURS?  That'd be lovely!  I can spend 6 or 7 hours having to deal with a leasehold purchase alone by the time I have dealt with freeholders/management companies/title checks/reporting/notice requirements etc etc

Still works out at approx £180-200 and hour. I dont think there's much justifying it if I'm being perfectly honest. 

People never do, because you are paying for knowledge.   My charge out rate is £240 plus VAT.  That'd put the true cost of a leasehold conveyance at about £1680 plus VAT.  I'm lucky if I can beg for £800 plus VAT these days. 

Of course I expect most solicitors wish they didn't have to pay for offices, heating, electricity, stationery, admin staff, reception staff, computer equipment and software, solicitors indemnity insurance (FYI, professional indemnity insurance is about £20,000 upwards per year alone), law society membership, buildings and contents insurance and all the other lovely overheads that come with a business, but unfortunately it's required to be able to do the job.   

Out of interest.. what do you think would be a fair rate to pay for 7 hours work on your file bearing in mind all the above ?  

What I think is fair is to provide the service I've paid for. Simple as that really