Expected Solicitors Fees, House Purchase
 

Seeing as we're on the property theme today... :)

Some months ago now i agreed to buy a house in a new development in my town from a local builder. The house is fixed price and completion is expected early next year. Now, the house builders wife was in touch with me the other day asking for my solicitors details, which i didn't have as i didn't have one...

Anyway, i went out the next day and basically agreed with one of the local solicitors for him to act on my behalf throughout the purchase. The day after that he sent me confirmation of the proposed fees for his services.

Now he's charging me £1000 + the stamp duty. This seems a little much to me considering that the house has a fixed price and a holding deposit already paid. There isn't really a great deal of work for him to do surely?

Question is (and i'm posting here due to believing the Scottish house buying system is different to in England) am i being taken over a barrell lol? :( My parents built their/our last house over 11 years ago so we've little experience of expected modern day fees.

Doesn't seem over the top to me these days. You may think there isn't a lot of work to do, but it all adds up, at typically £100 - £150 per hour (it's only twice what a garage charge you for someone to change the oil!)

Arrange surveys (yes even if you are buying a new house)
Sort out missives (ie argue the legal contract between the house builder and yourself - you should never just sign the builders missives yourself without advice first, as everything is loaded in their favour!)
Dealing with your motgage lender (if necessary) to arrange transfer of money from them to solicitor, and from solicitor to builder.
Sort out all the land registry stuff, deeds etc.

You can do a lot of this yourself, but what takes them an hour to do, may take you a few days or so.

Plus a good solicitor will offer you lots of advice on the best way to do certain things etc.

John

Sounds about right mate, cost me around £1100 in the highlands.

Carl - mail me off line and I'll list you what diffferent solicitors charge for this type of transaction in abz. I deal with most of them every week with my work in the bank

Tim
timwilkinson@dsl.pipex.com

I think I was charged about £500 by my solicitor when I brought the house. Helps that he's a family friend ;)

John, Nick, thanks for the reassurance. :)

Tim, you're about to have mail.

Hopefully i'll be in a similar boat in a few years time Miles - Emma's younger sister is at Uni atm with the intention of becoming a solicitor. :D

Carl,

Doesn`t sound OTT 2 me bud.
In the process of goin through virtually the same thing and £1-£1.5K appears to be the norm. (we`re all in the wrong game).

Pete