Fees for selling a house can split into two: Estate Agents and Conveyancer costs. Estate Agents usually charge fees for selling a house respective to the sale price for the property, for example 1% of the sale price, other estate agents do offer fixed fees but check with the agent you are going to put your property on the market with.
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The other fees for selling a house are Conveyancer costs, the standard fees for selling houses are a fixed fee. Obtaining a quote from your conveyancer will show the breakdown of their costs and any standard payments payable to third parties in order to sell your house, such as the Land Registry to obtain copies of your deeds.
Legal Fees for selling a house
Legal Fees for selling a house vary but generally are slightly cheaper than legal fees in a purchase transaction. This is because much of the work is done by the buyer’s solicitor. However, there is still work for the selling lawyer to carry out, as detailed below.
What is covered by legal fees for selling a house?
In a nutshell, this will include the lawyer’s cost for obtaining the title documents from the land registry, verifying your identity, dealing with enquiries from the buyers solicitors, sending paperwork to you for signing, liaising with any existing mortgage lender and preparing your file for exchange and completion.
Often it’s misconceived that the seller’s lawyer just drafts the paperwork and sends this to the client for signing. There is much more work involved, particularly given the strict guidance issued by the law society and government in terms of verifying the client sellers identity.
Why are legal fees for selling a house so cheap compared to the estate agent commission?
Whilst the estate agent commission is often based on a percentage of the sale price, legal fees for selling a house are often on a fixed fee basis and the value of the property doesn’t affect the amount of legal work involved.
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Ironically, much the same could be said about estate agents commission but that’s a topic for a different discussion board!
It’s important to note Legal fees for selling a house are often cheaper compared to a leasehold flat. That’s because with a leasehold flat, there is often a third party management company / landlord involved. In addition, buyers’ solicitors tend to raise a lot more questions with regard to the Lease and running of the building, which takes more of the sellers lawyers time in dealing with the same.
Conveyancing Fees for Selling a House
When selling a property, you will want to know how to instruct a firm, what costs are involved and what the process entails.
When you look to sell a property, the main questions that surround you are:
- How can I instruct a conveyancing firm or property solicitor to deal with this?
- What are the conveyancing fees for selling a house?
- Is the quote final?
If you are selling your property via an agent, they can often refer you to a chosen conveyancing firm and they can also guide you with the answers to the above questions.
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If not, you can choose your own conveyancing firm or property solicitor. In the event, you are to choose your own solicitors, it is imperative for you to undertake your own investigations.
Hire Expert Conveyancing Solicitors Before Selling Your House
The best way to do this is to look online, explore conveyancing firms/property solicitors’ websites and then also explore their reviews via trust pilot, google reviews, glass doors and more. The majority of firms are willing to provide online quotes (conveyancing fees for selling a house), and this can be done, before instructing the firm.
When you are exploring online, some conveyancing – property firms, will display the works contained and undertaken with the transaction.
As an example, AVRillo goes into great depth when detailing the works and should you opt for a quote, you will find an attached document in the quote pack for additional service/optional extras, these can be compared to the details already provided and to what is also displayed online.
Should your fees change during your transaction, you will be informed. AVRillo, have been recognised by the Law Society (regulator) for fee transparency. Please note, all fees are contained within the terms of business for this firm. Please familiarise yourself with these, should you wish to proceed with this firm.
Are conveyancing fees for selling a house final?
We have touched this topic slightly, in short, the answer is no. You are usually presented with a completion statement near to completion and should you have any questions, it is best to contact your conveyancer to run through any concerns. Please note, fees do not change drastically.
Additional Fees for Selling a House
No two house sales are the same! Should your conveyancer be required to carry out additional works, obtain additional third party documents or deal with issues outside of a standard house sale there may be additional fees for selling a house.
These additional fees for selling a house will be explained to you if and when they are needed and your conveyancer will act in your best interest in order to get your sale through to completion.
Remember! Not all fees are being charged by your solicitor but it may be these additional fees are charged by third parties in order to provide the information being requested.
In summary it is always best practice to be prepared for additional costs but obtaining quotes will help give you an estimate as to the fees for selling a house.