Conveyancer Quotes – The Differences To Be Aware Of.
It is important to get the right conveyancer if you are selling or buying a property. It is equally important to obtain few conveyancer quotesbefore making a decision as to who to instruct.
A conveyancer quote is an estimate of the cost for a conveyancer’s services when representing you on a particular property transaction. This can include everything from legal fees, property searches to land registration fees. It is important to research and compare different quotes before making any final decisions about who to use for your conveyancing.
With a conveyancing quote, there are two parts to it which you must differentiate. The Legal Fees as we have discussed above form the ‘professional fees’ which your chosen conveyancer will charge you for their time. The disbursements on the other hand are third party costs which would be applicable.
It is common to find that disbursements generally remains consistent across which ever firm you choose to instruct. For instance, SDLT or stamp duty will still be the same regardless of which conveyancer you instruct.
Additionally, conveyancer quotes are split into two types. Fixed Conveyancing Quotes and Hourly Rates.
As the name suggest, a fixed conveyancing quote will not vary throughout the transaction so long as the mechanics of your property transaction remains unchanged from when you obtain your quote. What we mean by this is that, if you have obtained a quote based on purchasing a freehold property, the conveyancer’s fees will remain the same as per the quote. If on the other hand, if it transpires the property you are buying, although initially thought of being Freehold is in fact, leasehold in tenure, then naturally your conveyancer quote will be revised.
If the quote you have obtained is based on hourly rates, your conveyancer will be tracking every minute they spend dealing with your transaction and therefore, there will be no clear indication of what your total legal fees will be, by the end of your transaction at the offset.
It is therefore always advisable that you establish what the nature of your conveyancing quote is at the onset of your transaction before instructing a conveyancer.
Assuming you have established the above, when comparing conveyancer quotes, you should then primarily focus on any variations to the “legal fees’ aspect of your quote.
Depending on where you obtain your conveyancing quote, these legal fees could vary significantly. Our recommendation is not to instruct on the cheapest conveyancing quote as generally, firms who are able to offer such low fees, tend to lack a good service offering. Equally, the highest fee doesn’t always guarantee an exception level of service. You are therefore perfectly within your right to ask as many questions from the various service providers before deciding who to choose.
It can also be beneficial to find out if there are any special offers or discounts available when obtaining a conveyancer quote. This can help reduce the overall cost of the transaction and ensure that you get the best possible service at the most competitive price.
Getting multiple conveyancer quotes is essential if you are looking to buy or sell a property, as it can help you determine which conveyancer is best suited for your needs and will provide you with the most cost-effective service, without compromising on service.