Conveyancing solicitor fees

Sundaymorning6

Hi all

I am completely new to the process of buying/selling property and just wanted to understand selling fees.

I am selling my half of a property worth just over 100k. I have been quoted fees (including VAT) of 1k. There are no searches required so the legal fees are basically 80% of the total.

Are the fees normally based on the value of the property regardless? As I will only be receiving 50% of the value.... Seems like i'm at a disadvantage if this is the case!

Thanks

user1977

The value comes into it (more responsibility etc), but the amount of work isn't really proportional to the value - it's much the same job whether the property is worth £10k or £10m.

If you're selling "half of a property", I'm guessing this is to a connected party, there's no contract, not much due diligence etc? In which case it should be a fair bit cheaper than a normal arm's length transaction, so you might want to shop around a bit more.

canaldumidi

As above the value doesn't much affect the amount of work, but if selling to a joint owner there may or may not be a need for a contract which could reduce the work. Is there a mortgage to be redeemed?

Shop around.

TBG01

How much do you think it should cost?

saajan_12

I have seen some conveyancers quote a fee based on the sale price. The work is the same, but perhaps its a mixture of 
* higher risk / insurance cost if they make a mistake on a £1m house vs a £100k house
* £1m house buyer/seller can afford and more willing to pay more than a £100k house buyer/seller

OP, I wouldn't worry too much about technically which price should be used.. it just depends on how the solicitor wants to charge. Just get some more quotes from other conveyancers and compare the best final cost along with the reputation / reviews. 

Swipe

My solicitor charged me £750 (inc VAT) to sell last August.