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Author Topic: Solicitor's fees  (Read 11362 times)

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willdigg

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Solicitor's fees
« on: November 27, 2016, 06:50:13 pm »
First time buyer here needing some help and advice?

Is this a reasonable a price?

What is a best practise search pack?

Thanks in advance


New Home Expert

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Re: Solicitor's fees
« Reply #1 on: November 28, 2016, 06:35:30 am »
The actual solicitor's fees seem about right.
Nearly half of your bill is Stamp Duty.

Be very wary of buying any leasehold property.
They come with management charges which can escalate, expensive buildings insurance and other covenants on the deeds you may prefer were not there. 
Some may have escalating Ground Rent which can double every ten years!

A good solicitor would go through all the implications of the leasehold deeds with you one by one.
A housebuilder's solicitor will just point to where you have to sign!

If this is a leasehold house don't buy it!
New Home Blog - New Home Expert is committed to providing help and advice for people having issues with their new homes and difficulties with house builders as well as helping potential buyers reduce the risk of possible problems if they do buy.


willdigg

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Re: Solicitor's fees
« Reply #2 on: November 28, 2016, 01:58:55 pm »
Thank you for your response and I will take into consideration the purchase of the lease.


indyjukebox

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Re: Solicitor's fees
« Reply #3 on: December 03, 2016, 12:11:11 am »
Seems ok. Cheaper than I paid and ours was a freehold. Leaseholds are usually more expensive/have added costs.

I think it is just a local search pack, usually between £200-250. So again seems reasonable.

I wouldn't skimp on the solicitor. A good one is worth their weight....!

willdigg

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Re: Solicitor's fees
« Reply #4 on: December 15, 2016, 10:05:52 am »
Thank you all!

willdigg

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Re: Solicitor's fees
« Reply #5 on: February 27, 2017, 11:50:52 am »
We are now purchasing the freehold, from the price list stated in the picture will we incur anymore costs?

New Home Expert

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Re: Solicitor's fees
« Reply #6 on: February 28, 2017, 06:40:05 am »
Yes you will. Unless you haven't yet exchanged and it's now a Freehold sale.

Otherwise Land Registry being one.
I expect your solicitor doesn't work for free either as it effectively means doing the work twice.
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willdigg

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Re: Solicitor's fees
« Reply #7 on: March 01, 2017, 10:55:23 am »
We have exchanged and have been told that we need to resign some documents due to purchasing the freehold at the cost of £40, I was fearing a lot more!