2. Learn More About Conveyancing
Fees
• Conveyancing fees are the charges levied by
legal professionals for aiding clients in the
transfer of property ownership from one party to
another. Purchase as well as sale of real estate
has to be done legally. If any legal requirement
is left out, then the property transfer may be null
and void. This is why it is necessary to hire a
licensed conveyancer or property solicitor to
handle the legal aspects of transferring property.
3. • Different conveyancers charge differently
for their services. This is advantageous to
the prospective property buyer. He or she
can shop around and identify the solicitor
whose price is the most pocket friendly.
Some specialists in this field have
exorbitant rates for service provision. It is
important to look for ways of cutting down
on costs since the entire process of
purchasing property is relatively
expensive.
4.
5. • Property buyers are many times advised
to settle for fixed fee conveyancing
services. Here, the client is charged a
specific amount which is agreed upon
beforehand by both the solicitor and the
client. The amount agreed upon does not
change until the property has been
transferred successfully. This is usually
the most preferred mode of payment for
legal services related to property transfer.
6.
7. • The other mode of payment is more of
pay-as-you-go. There if no fixed amount
agreed upon. Charges are levied on the
buyer at each step of the transfer process.
In the end, a buyer could end up paying
less than one who settled for the fixed fee
payment. In the same breath, he or she
could end up paying much more to the
solicitor.
8. • Pay as you go continued..
The main disadvantage of this mode of
payment is that there is the constant risk
of spiraling costs. A buyer cannot
adequately budget for legal services when
paying through a non-fixed fee method.
9. • Professional conveyancers work either for
conveyancing firms or property solicitor
firms. On many occasions, solicitors hired
through a firm will charge higher fees for
their services as compared to sole
practitioner conveyancers.
10. • This is because some people believe that
sole practitioners are not as professional
as those employed through firms. This
should not be taken to mean that
individual solicitors are non-professionals.
Despite their services being slightly
cheaper, many of them are very
professional and competent.
11. • It is very important for a potential real
estate buyer to ask for estimates of the
expected cost of service from solicitors
before embarking on the purchase. These
estimates will give him or her a rough idea
of how much he or she will have to put
aside for legal services. Buying real estate
is never a cheap undertaking. The buyer
needs to budget well in order to cater for
all expenses adequately. Having
estimates helps to ensure effective
budgeting.
12. • After getting estimates on the expected
conveyancing fees, it is advisable to set
aside a higher amount than that provided
for in the estimates. It is better to have
extra money left at the end of the property
transfer than to run short of funds before
the transaction is done. Estimates can
never be a hundred percent accurate and
it would not be wise to reserve a fixed
amount of money based on an estimate.
13. • Visit www.onlineconveyancingfees.co.uk
to learn more about comparing
conveyancing fees, or…
• Go straight to the comparison page at
www.onlineconveyancingfees.co.uk/conveyan