Avoiding Potential Hidden Costs In Conveyancing
Choosing a conveyancing solicitor or conveyancer is a more competitive process than it once was. Solicitors were once the only group that could offer conveyancing services and this meant higher prices than were necessary. Because the conveyancing service was viewed as a necessary evil by some local solicitors, it also meant consumers could face a less than favourable service.
Conveyancing is now open to anybody. In fact, you could conduct the conveyancing process on a property yourself, although this is not a recommended approach when considering the implication of mistakes and the affordable conveyancing prices now available.
Depending on the type of conveyancing service you use there will be several aspects to your bill. The conveyancer service fee may be payable by the hour or as a set fee. Furthermore, the set fee may be a one price fits all solution or it could be scaled according to property value, location, and other factors. The most common approach is the scaled fee.
The total fee will also include disbursements and if these aren’t listed as being part of the quote then do ask about them. These are necessary charges that the conveyancer must pay third parties and other organisations or groups throughout the conveyancing process and should be roughly the same from one service to the next.
When requesting quotes, request that they be itemised wherever possible. This should include a list of disbursements because one trick to charge extra is to levy unnecessary or plain false disbursement fees. If something is missing from the quote then ask whether it is included in the bottom line price and if not, how much it will cost. Once you’ve done this you will be able to compare quotes on a like for like basis.