How much are solicitors fees when selling a house

How much are solicitors fees when selling a house

When you sell your house you’ll often need to use a solicitor or conveyancer to deal with the legalities. It’s one of the largest costs that people will incur when the want to sell their house particularly if you want to sell a house fast.

Do you need a solicitor to sell your home?

It’s not essentially, legally speaking that is, but if you’re selling your house privately or with a normal estate agent then it’s definitely something you’ll want to have. Conveyance is the term for this, that is to say the legal process of buying and or selling a house, it can get a bit complicated and the paperwork can be time consuming. And mortgage lenders often require that you hire a professional.

If you do decide to do it yourself then you’ll be liable for any mistakes you make or details you miss, which is relatively easy. It could lead to you being sued later, so for peace of mind if nothing else it’s generally advised as solicitors will have insurance to cover them if something does go wrong.

How to choose conveyance providers?

  • Online providers – often these are the cheapest option and it’s mostly handled over the phone, if you prefer the face to face touch or already have a local preference, this may not be the way to go.
  • A conveyancer – these are specialists, meaning you’re probably in the safest pair of hands if you’re going through a normal sale
  • A solicitor – this is going to be the preference in perhaps a more complex sale, one around divorce, inheritance or some other complexities where you may want a singular firm to handle multiple issues.

Some firms will offer no sale no fee services. This means if the sale doesn’t go ahead you don’t have to pay any fees, although they will normally require a minimal deposit that you will still lose.

This is normally to cover external costs, such as copies of deeds and anti money laundering checks.

How much do solicitors charge to sell a house

It depends on the value of the house and the complexities involved, for example, properties with a leasehold tend to have higher fees. You’ll either be charged a fixed fee or a percentage of the property sale price. On top of this there are some minor admin costs such as:

  • Copies of the deeds
  • Anti money laundering checks
  • Bank transfer fees

These will normally be less than £100 so not a large consideration.

Generally the cheapest of the main costs would be hiring a conveyancer, the costs will normally come in somewhere between £500-1800 plus the admin fees. And whoever you choose they should give you a breakdown before hand. If you’re buying as well as just selling this can of course mean it’s also going to cost double, and you will also need to remember stamp duty.

 

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