Can one calculate the average cost of conveyancing. If so ... is the figure of any real help or value?.
Average Conveyancing Fees
In the field of conveyancing (the legal procedure which is executed when buying or, selling properties), average conveyancing fees are charged to the clients as the remuneration for the conveyancers’ labor with relation to the property transfer.
Conveyancers work as the legal advisers as well as taking care of all of the legal procedures that take place relating to the transfer.
A conveyancer works for both the buyer and the seller.
As Conveyancing is a legal procedure, usually, professional solicitors or licensed conveyancers are appointed for doing this job. Mistakes can be very expensive, and such work should be left to the professional.
So what of average conveyancing fees? Well, it is actually very difficult to calculate a meaningful
figure. Let us explain.
If the average SALE / PURCHASE price of a property in England and Wales is £175,000 (for argument's sake) - then, as solicitors typically charge on a sliding scale based on the value of the property - the average conveyancing cost would be (again for argument's sake) £400 - £500 (in legal fees) - depending on whether you were buying or selling the property.
The difficulty with this is that your property may be much less or much more expensive than this - and, in addition, your local solicitor may be much more or much less expensive than the average. This combination of variability in property values, and solicitor's charge rates makes an average a fairly (if not completely) meaningless figure.
So, as you can see - an average is not really a helpful figure in this case! The best thing to do is to request quotations from your local solicitors, and from price comparison websites, such as AgentQuote.co.uk - You can then get EXACT costs for your conveyancing - and hopefully read some feedback on each solicitor, allowing you to make an informed decision with regards to who you will use, based on their FEE and their QUALITY (and if it is a real issue for you - their LOCATION).
It is worth remembering that LOCATION should not really matter. There is not need for a face-to-face meeting with your solicitor, or to visit their offices. By using a local solicitor you are likely to greatly increase your costs, for no additional benefit.
Bare in mind that local solicitors know that some people just can't be bothered to go around and compare prices. Sometimes maybe, they will need a solicitor ASAP and therefore they will not have time to search for a better price.
AgentQuote allowes you to compare the prices of up to 30 solicitors so you can be sure that you will find the best deal for you!
Click one of the buttons above, fill in the short form and see for yourself! High quality for a low price.
Author: Terry Davies
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Birchall Blackburn Law (BB Legal Ltd)