No Sale No Fee Conveyancing: Everything You Need to Know
If you’ve ever looked for a conveyancing solicitor to help you deal with a purchase or sale of your property, then it’s likely that you’ve come across a “no sale, no fee” option. Now, it’s understandable to be curious about this but it’s important that you fully understand what it all entails so that you can make the best possible decision. This can be quite tricky as we’re sure that many of you may not have sufficient knowledge on this subject. To help you out with this, we thought it would be useful to have a brief discussion on this subject. If this is something that you’re interested in knowing more about, read on for a breakdown of everything you need to know about “no sale, no fee” conveyancing.
How Does No Sale, No Fee Conveyancing Work?
Traditionally, a conveyancer or solicitor usually charges you even if the property transaction isn’t completed. Basically, this means you’ll have to pay their fee even if the sale ultimately falls through. On the flip side, “no sale, no fee” conveyancing entails that no fees will be paid if the sale or purchase is not completed. This can save you around £2,700 since you won’t have to cover the legal fees and the fees for searches.
Granted, “no sale, no fee” conveyancing usually comes with an initial deposit for security purposes. This shouldn’t be too much of an issue as it is nothing compared to hefty legal fees and search fees. It’s important to note that some conveyancing solicitors may still require you to pay for the cost of searches so it’s best to clear things up before deciding on a conveyancing solicitor. With that being said, some conveyancers will let you have the searches on your next property for free. It’s easy to see why this is appealing to so many people as it will allow you to reallocate your funds elsewhere.
What Costs Does It Cover?
As we’ve stated above, “no sale, no fee” conveyancing covers the legal fees. This means it doesn’t cover any third party costs such as the fees incurred when arranging a survey. Basically, you won’t have to pay for the work that a solicitor or conveyancer puts in when it comes to writing letters and organizing a sale or purchase.
Who Offers No Sale, No Fee Conveyancing?
Typically, it’s only online conveyancing firms that offer “no sale, no fee” conveyancing. For the most part, traditional solicitors don’t give people this option. To be completely sure, it would be best to communicate with the conveyancing firm or solicitor that you want to work with and ask them if they offer “no sale, no fee” conveyancing.
We hope this article helps you further your understanding of “no sale, no fee” conveyancing. While learning about this may be a little tedious, it’s important that you are thorough when it comes to examining your conveyancing options. You’ll want to do all you can so that you can make the most informed decision possible when it comes to selling or purchasing property.
We here at Conveyancing Supermarket give free and instant quotations, which will allow you to compare conveyancing quotes. We provide no obligation conveyance quotes with no hidden fees, so send us your details and save hundreds from the process.