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pay solicitors fees in advance?
cey2007
Posts: 17 Forumite
Hi all,
I'm a FTB, at the stage in the buying process where I recieved all my searches, etc, but draft contract is currently being written up- is it wise to start making payments to my solicitor account (even though solicitor says she hasn't receieved final figures yet) or is it best to wait to have them in writing?
I'm a FTB, at the stage in the buying process where I recieved all my searches, etc, but draft contract is currently being written up- is it wise to start making payments to my solicitor account (even though solicitor says she hasn't receieved final figures yet) or is it best to wait to have them in writing?
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Comments
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wait for the solicitor to ask for them. Have you had a copy of teh company's terms and conditions and how much their fees will be ?0
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wait for the solicitor to ask for them. Have you had a copy of teh company's terms and conditions and how much their fees will be ?
Yes, I've had a copy of their fees, shes awaiting confirmation of total fees from mortgage company and sellers solicitor as I'm purchasing a few items from the seller0 -
When you are ready to sign the contract so that exchange of contracts can take place your solicitor will want a deposit (up to 10% of the price) and may have to wait for any cheque to clear before he can exchange and draw his own cheque to pay the deposit to the seller's solicitor.
Deposits by personal cheque from the buyers are not acceptable to sellers' solicitors so the clearance time is needed.
You may want to ask your solicitor about this so there is no delay when things are ready to proceed.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0 -
Hi Cey 2007
If the price includes chattels you may save a bit of Stamp Duty Land Tax by apportioning the price between the property and the dwelling, You will only pay any SDLT on the property price. Your solicitor will advise on the point as appropriate.
Takoo0 -
I'm in a similar position in that I'm about to exchange contracts.
I've been asked to make a "one day" transfer. Do I need to give the bank notice to do this? or can it be done when I go to the bank?0
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