Conveyancing Fees A True Comparison
The internet has made shopping around much more fun. No more trudging from store to store, then back to the first of ten that you visited because that was the cheapest. Online shopping, for goods and services can be done whenever the customer wants, especially useful outside the hours of 9am and 5pm. Now the same can be said for Conveyancing Fees.
Shopping around on the internet has also made it possible for us to compare the costs of professional services, such as conveyancing fees that we would previously have taken for granted, and just accepted. One of these has been the greater number of online conveyancing companies now available – with lower overheads and staff costs, they are able to offer much more attractive deals than traditional land-based solicitors, while offering an easier, more efficient service.
To begin, the estate agent that you are dealing with for your property may recommend a local conveyancer to carry out the work on your behalf. But why? Because they like and trust the conveyancer and want the best for you? Possibly, or it could be the case that they will receive anything up to £1,000 commission from the conveyancer for sending your business their way.
So what are the average online conveyancing fees? Let’s look at a couple buying a leasehold apartment valued at £250,000. This will, in any event, be liable for Stamp Duty of £2,500, and even the world’s greatest conveyancing solicitor can do nothing about this. The average for this conveyancing procedure will be around £1,000, including VAT, or 0.25% of the total purchase price, whichever makes you feel better.
If this couple are only selling a property, they will be looking at a fee of between £700 and £1,000 including VAT. For the same two people, both selling one property and looking to buy another at the same price, the conveyancing costs will be slightly under £2,000 including VAT. Fees for freehold properties are slightly lower, but not a huge amount – generally around £200 less. But for commercial properties, there are many more hoops to be jumped through, so the conveyancing solicitor’s fees will naturally reflect the greater workload that they will have to take on to achieve either a purchase or a sale.
While money isn’t everything, it is definitely the most important aspect of the home buying and selling procedure. But it is essential to take into account factors such as stress and what effect it may have on the buyers’ relationship.
Comparing conveyancing fees at conveyancingsupermarket.com is a great way to take some of the stress away at the beginning of buying or selling your home, and online conveyancing has the great advantage of giving us the time and space to research conveyancers and read online testimonials, for instance. This research is easy for anyone to carry out on their own, but experience will give them the tools to ask the right questions so that they are happy to deal with the conveyancing company – they may not mind paying more (or less) for a service that the will feel comfortable with and can lessen their load.