Conveyancing costs

yogie

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hi,

Ive sold my house in the last few days for £160,000 and I am looking to buy a house for £215,000. I have been quoted by my estate agent that they will do the conveyancing for buying and selling for £1800 which seems a bit steep to me. Can anyone advise what they think would be a reasonable price for this and also recommend somebody.

cheers
 

bilabonic

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That is steep mate. You should only pay for purchasing a house, the buyer of yours should pay their side. About £500/£550 in Wales. But stamp duty kicks in for you i think.

Ask estate agent what searches are in place as most of the time you do not need them, the seller should provide energy Performance pack (EPC).

Conveyancing £325
TT/Chaps £25
Stamp duty - ???? Can not be bothered to google it.....lol
Land Reg fee - £80
Land Reg Search -£4

Watch for the dodgy searches mate, if older than 6 months they are void and they will charge you again and some of them are crazy. So ask.

Last house i bought they were 1 month out so did not bother as they were good then and saved £120.
 

Enticy

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Hi mate,

If they are charging £1,800 (inc/exl vat?) is a bit steep. It does depend on your area though due to competition. For example, in my area competition is fierce and so prices would be £500 plus VAT to sell and £600 plus VAT to buy whereas a few miles down the road the prices would be £600 to sell and £850 to buy (plus vat on each).

As for the searches etc. on your sale you probably already have an EPC so you only need to pay for a copy of your title which is £8.

On the purchase it is always advisable to get searches; believe me I have seen the problems that can be created if you don't like compulsory purchase for example where the council nick a piece of your land to widen a road.

The Local Search should be £100 to £150; the drainage and water search should be about £50 (roughly - varies between water companies); and an environmental search would be about £50 also.

Other searches may be necessary depending on your area; you have to remember though that even you don't want it if you are getting a mortgage your lender will insist they are done so you solicitor won't have much choice.

The land registry searches should be £4 for a priority searches and £2 per name for bankrcuptcy searches (only necessary where you are getting a mortgage).

The stamp duty on your purchase would be £2,160 (1% up to £250k).

The land registry fee is also dependant on price and in your case it would be £280.

Think thats pretty much it mate. As you may have guessed I am clued up on this stuff because I am a property lawyer. I would be glad to deal with your transaction for your if you like just pm me your details and I will get in touch.

Enticy
 
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