Conveyancing costs will differ between conveyancing firms, the costs of your transaction will also depend on different aspects of your sale.
Aspects to be considered when quoting conveyancing costs include;
- Is the property leasehold?
- Is there a mortgage to redeem?
- Are there any restrictions on the title?
- Are there any complex legal issues to be resolved?
- The sale price of a property.
- Is the property shared ownership?
- Is the property unregistered?
You may not be able to get a guaranteed fixed fee at the beginning of your transaction as there may be complex legal issues which arise throughout the conveyancing process which yourself and your solicitor may not be initially aware of.
The average cost of a sale can range anywhere from £500-£2,000 + VAT plus additional admin fees for additional complex legal issues.
The more complex your transaction, the more you are likely to pay. If your solicitor does anticipate any additional costs on top of what you were initially quoted, they should advise you of this prior to dealing with the additional work and ensure that you accept the additional charges.
Conveyancing is one of the few legal services that charge a fixed fee, usually when you instruct a solicitor you are charged based on time and would be billed on this basis.
There may be some additional disbursements which crop up during the conveyancing process, which you would be notified about. This could be an indemnity policy requested by the buyer, it is usually the seller’s responsibility to cover the cost of this. You will also pay disbursements to the estate agent for their fee, the redemption of your mortgage and land registry fees to obtain the title documents. All of this should be quoted to you and you will be made aware of the expected costs at the beginning of the transaction.
