Solicitors Fees For Selling A House

Solicitors Fees For Selling A House 

Ready to sell your house and dreaming of the next big move while at the same time working how much it’ll all cost? 

Most of us tend to account for the big costs (like estate agent fees) but it’s the little ones that can sneak under the radar in all the moving excitement. 

Solicitors fees fall into the latter category, but forget them at your peril, as they can really add up. 

In this blog, we explain what a solicitor does, why you need them, and how much they cost. 

Why do I need a solicitor when selling my home? 

Solicitors guarantee the legality of your house sale. So unless you’re a solicitor yourself or have extensive experience in the property sector, then you need one to avoid any costly mistakes. The legal process has three key stages: 

  • Agree sale 
    • Once the sale is agreed, your solicitor will: ask you to fill in a detailed questionnaire and obtain your title deeds; draft your contract for sale; ensure that you settle your mortgage and any other secured loans; and liaise with your buyer to agree a completion date. 
  • Exchange contracts
    • Once your contracts have been exchanged, your solicitor will: organise the final accounts and prepare a settlement for you; approve the deed of transfer; and receive the deposit as a down-payment. 
  • Completion 
    • Once the sale is completed, they will: pay off the mortgage (where relevant) update the land registry; and the best bit — send the balance of money to you. 

What are solicitors fees for selling a house?

Conveyancing is a specialised area of law, so with it comes a price tag. For a standard property in the UK, you’ll be looking to pay between £500-£1,800. 

The actual figure, however, depends entirely on how complicated the transaction is likely to be and the total value of your property. For example, splitting equity due to a divorce will take the solicitor more time than a standard transaction, and therefore cost you more. The same applies when selling a flat vs a house with the former often a more time consuming process. 

Like with anything, not all solicitors were made equal so do your research. If a solicitor is very cheap, then make sure that you understand why — for example, how long do they usually take to complete a house sale, and what level of communication and hand-holding do they provide. Your solicitor choice ultimately depends on your property experience, budget, and priorities. 

How long does the process usually take? 

A 15-25 week process is fairly standard with most solicitors when selling your house, as long as everything goes to plan.  

If that seems like a long time, and you simply can’t wait, then there are other options. For example, if you choose to sell your home to a property cash buying company (like Hull Cash Buyers) then you can avoid paying legal fees altogether and fast-track a house sale. Our business model is built on speed, meaning that we cut out the middlemen estate agent, and offer an end-to-end, hand-holding service. To keep things simple for you, we have a team of solicitors ready to process the sale so that we can exchange within 48 hours (dependent on your timelines). Plus, as long as you choose our chosen solicitor, then we cover the fees for you – meaning more money in your pocket, a hassle free process, and the freedom to take your chosen next step. 

For more information, call our team on 01482 655346

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