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    • Rocksolid
    • By Rocksolid 15th Jan 20, 1:39 PM
    • 118Posts
    • 9Thanks
    Rocksolid
    Expenses during house buying
    • #1
    • 15th Jan 20, 1:39 PM
    Expenses during house buying 15th Jan 20 at 1:39 PM
    Hello,


    I would like to ask how the people manage the expenses of the lawyer/sollicitor and the survey costs during the house buying procedure.


    Example:
    House 1: for some major reason (structural, documents etc) I don't take it

    House 2: for some major reason (structural, documents etc) I don't take it
    House 3: for some major reason (structural, documents etc) I take it, but the checks are still mandatory



    In this case, I would have spent easily (700*3)+(500*3)=3600 pounds... (sollicitor + survey)


    How can I cut down these costs? Or every time I have to pay the full price for a new accommodation?
    Last edited by Rocksolid; 15-01-2020 at 1:42 PM.
Page 1
    • foxy-stoat
    • By foxy-stoat 15th Jan 20, 1:41 PM
    • 5,731 Posts
    • 3,550 Thanks
    foxy-stoat
    • #2
    • 15th Jan 20, 1:41 PM
    • #2
    • 15th Jan 20, 1:41 PM
    Yes, you need to pay for a some sort of survey when you buy older houses, by the looks of it, it was money well spent if you decided not to buy the previous properties.

    Same with legal costs as well.

    For house number 4, I would take a longer look at the areas where the other houses had structural issues so you may be able to spot issues.
    • JMA74
    • By JMA74 15th Jan 20, 1:44 PM
    • 1,087 Posts
    • 784 Thanks
    JMA74
    • #3
    • 15th Jan 20, 1:44 PM
    • #3
    • 15th Jan 20, 1:44 PM
    The solicitors that I refer my clients to only charge when the transaction completes. They also cover the costs of the local search on the next purchase if it falls through due to no fault of the client (survey/valuation/vendor withdraw etc).

    Beyond that, I charge my fee once so any further mortgage applications have no cost.

    The only repeating cost would be any survey the client chooses to do.


    I know of another solicitor in town who charges 40% of the fee if it doesnt complete and then doesnt charge for the ID checks next time as they are already done.


    If your solicitor is charging full price each time then i hope they are worth it
    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • davidmcn
    • By davidmcn 15th Jan 20, 1:59 PM
    • 14,425 Posts
    • 16,876 Thanks
    davidmcn
    • #4
    • 15th Jan 20, 1:59 PM
    • #4
    • 15th Jan 20, 1:59 PM
    As above, you're unlikely to be paying full solicitors' fees unless you pull out at a very late stage (even then there ought to be some discount).
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