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Solicitor's Fees
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20122013
Posts: 438 Forumite
I have sold my property, and due to Exchange (completion date not confirmed yet).
I want to check whether it is the norm that the Solicitor's fees is due on Exchange? and not completion I have not been asked to make any payment yet. They are listed under the SRA. (first time seller a bit nervous)
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You won't be exchanging until the completion date is confirmed, and the dates are usually only a matter of days apart these days - is there a problem with paying at exchange?0
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I can pay the solicitor's fees (estimated amount) I think the buyer wants to complete 2 weeks after the exchange. I hope the solicitor will still priorities my work after paying paid.0
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Once exchange is done there is very little for the lawyers to really do other than on completion itself.20122013 said:I have sold my property, and due to Exchange (completion date not confirmed yet).I want to check whether it is the norm that the Solicitor's fees is due on Exchange? and not completion I have not been asked to make any payment yet. They are listed under the SRA. (first time seller a bit nervous)
Lawyers are also a fairly regulated trade, it's not like hiring Bob the plumber where all you have is a mobile number for them and they could disappear into the ether once paid.
What do your actual terms of agreement with them say about when they are to be paid?
Just checking through our records, we paid our conveyancers, along with transferring the deposit and stamp duty to them, about 3 days before exchange actually took place. Exchange happened a couple of hours late as they asked to push completion back a week and there were no problems with completion.1 -
MyRealNameToo said:Lawyers are also a fairly regulated trade, it's not like hiring Bob the plumber where all you have is a mobile number for them and they could disappear into the ether once paid.Under 'Payment to Us of Fees and Disbursements'Our fees become payable and due on exchange of contracts.0
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So, yes, they will tell you how much you need to pay for their fees before exchange.1
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