If you are planning on buying or selling a property it is likely that you will contact at least one firm of solicitors and ask them to provide you with a conveyancing quotation. A quotation will cover two kinds of costs that you will need to settle on completion:
- Legal fees i.e. the fees that your solicitor will charge you for carrying out the work on your behalf; and
- Disbursements i.e. other costs that the solicitor will incur on your behalf such as Land Registry fees and searches.
If you obtain more than one quotation you may see that the legal fees can vary greatly from firm to firm while the disbursements will remain reasonably consistent. While it may be tempting to instruct the solicitor with the lowest legal fees (we know the process can be expensive!) we recommend taking the time to review the quotation fully and, in some cases, asking for more information before making a decision. Here are our hints and tips for reviewing quotations:
Information
Check that the quotation reflects the information that you have provided i.e. if the property is leasehold additional fees will be payable – ensure that this is reflected in the quotation. If there is something unusual about the transaction, make sure you have explained this. This will ensure that your quotation is as accurate as possible.
Hidden Fees
Read everything that has been sent to you carefully. Is there mention of additional fees that are not included in the headline fee provided? If so, we recommend that you make further enquiries. At BPE our aim is to provide you with a clear and honest quotation at the outset. We do not have a list of hidden fees that will bump up the price – this can be a nasty surprise on completion.
Too good to be true?
If the fee is very low ask yourself why. Conveyancing needs to be carried out by skilled individuals – if the fee is low is this because of hidden fees or will you be dealing predominantly with inexperienced case handlers or by a team? BPE knows the value of your legal advisor being at the end of the phone without having to explain your case to a new person each time. If you instruct us to handle your conveyancing, you will deal with a named individual who will be supported by one paralegal who will also have good knowledge of your case.
Jargon
A quotation will likely be your first communication with a firm of solicitors. If it is not in plain English or it uses technical words/phrases without explanation, consider how easy it will be to deal with that firm of solicitors during the transaction for instance, when you receive a report on title in respect of a purchase. At BPE we pride ourselves on our communication with clients and third party organisations. This makes life much easier for all.
Questions
If you have a question in respect of the quotation either email or call to find out the answer. How the firm responds to you and the time taken to respond will be a good indicator of the level of service you will receive. Our quotations are sent out by the lawyer who will deal with your case so you will have a name and direct contact from the outset.
At BPE our knowledge and practical approach means that we are in the perfect place to provide you with a great service for your property matters. Contact us today for a quotation.
