Selling your Property - Calculate Solicitors Fees for Selling your Home
When you’re looking to sell a property, there are a number of fees and different things you need to take into account before you can do that. One of the main costs you need to consider when selling your property is conveyancing. Getting a good quote for your conveyancing is essential if you don’t want it to make a big dent in your savings. The legal aspect of selling a house is very important, so you need to make sure this is something you prioritise. You can compare solicitors and conveyancers prices for selling a property using our conveyancing calculator. Simply enter a few details about the property you are selling and within 3 steps you can receive quotations from some of the best value conveyancing solicitors in the UK.
Cheap, Low Cost Conveyancing Prices for Selling a Property - What to look out for when comparing Solicitors Fees
Conveyancing is an extremely competitive business. Many quotes are designed to make you believe that they are cheaper than they really are. Accurate conveyancing quotes have two parts to them.
- The Solicitors Legal Fee or Base Legal Fee - This is to cover the time the solicitor spends on your transaction. It’s rare for solicitors to charge on a fixed fee basis. The most common way they charge is on a scale that links their payment to the value of the property that you are selling. Sometimes they may charge by the hour. You should avoid by the hour pricing if you want to be charged a fair price for this service. Conveyancing services can take up to 3 months to complete, so the costs will add up very quickly.
- Dibsursements and Regulatory Government Fees - These are quite often additional fees that are imposed by the UK Government or regulatory bodies. These can include but are not limited to Land Registry Fees, Stamp Duty (SDLT), ID Checks (for anti money laundering regulation), Official Title Plans and more.
How much are Conveyancing Fees for Selling?
You must always read the small print and make sure there are no hidden costs when you’re looking at conveyancing fees for selling your home. Sometimes some websites or conveyancers will charge for things that should be covered and included in the basic sale fee. They will often list these as extras or just categorise them under disbursements. This will turn your affordable conveyancing quote into something far more expensive than it needs to be. To help you find the best quote for selling your property, you should avoid solicitors and companies that hide these extra fees. You also need to make sure you’re comparing the costs accurately. For this, using a conveyancing comparison website can be helpful. You can then directly see the price and the things included in the price to help you make your decision.
When you use a trustworthy conveyancing comparison website, the fee you see is the fee you will pay. This is known as Fixed Fee Conveyancing. There will be no hidden costs, so you won’t have to deal with any nasty surprises down the line. All solicitors on a conveyancing comparison site will have agreed to abide by some basic rules so that there are no disagreements. They will also agree to adhere to the standards expected of them and will usually be regulated by The Solicitors Regulation Authority (SRA) or for Licensed Conveyancers, they will be regulated by The Council for Licensed Conveyancers (CLC). They will also get to work as quickly as they possibly can. Generally a conveyancers services for selling a property will cover:
- The Sale Agreement
- Title Deeds.
- Transfer of Deeds.
- Buyer Enquiries.
- Property Information Form.
- Draft contract of Sale.
- Contract signing.
- Exchange of contracts.
- Receive Deposit.
- Transfer of money.
How much does it cost to Sell a House Solicitors Fees?
Solicitors fees usually vary dependent on the value of the property that you are looking to sell and any complications that may be involed in the sale of your property. Taking into account current market and pricing data, typically the solicitor's base legal fee will be between £475.00 - £1,000. Factors that can often affect the conveyancing price include:
- Property Tenure - Whether your property is a Freehold property OR a Leasehold property, can often impact the cost.
- Shared Ownership Schemes - If there is a shared ownership scheme involved in the sale of your house, this can often increase the solicitors legal fees to deal with the added paperwork and complexities involved.
- Mortgage Redemption - Some solicitors can charge an additional fee when a mortgage settlement is involved in the sale of your house or property.
Why are Solicitors Fees for Selling a Property, less than for Buying a Property?
As a seller, your duties aren’t as extensive as the buyers. However, that doesn’t make them any less important. You should always get a solicitor to agree on fees in writing before you start anything. You can find a good solicitor by getting recommendations from people you know, searching online and reading reviews online. However, using a conveyancing fees comparison site will allow you to see things more clearly and will allow you to find the right solicitor, at the right price to sell your property.