Solicitor's Fees For Selling A House

Solicitor's Fees For Selling A House

Selling your home can be a rewarding yet complex process, and one of the most important things you'll need to do is hire a solicitor to help you navigate the legal aspects of the sale. Want to understand what hiring a solicitor means for selling your home? We’ve got you covered. In this guide, we’ll give you an insight into the solicitor fees for selling a house, as well as how these fees are calculated. To also help you feel more at ease, we will give you some tips on how to choose the right solicitor for you and the pros and cons of using them to sell your house.

Why do you need a solicitor when selling a house?

There’s no legal requirement for you to hire a solicitor to complete the sale of your home. However, a large part of selling a house involves meeting a number of legal requirements. This includes providing certain documents to the buyer, such as the title deeds, Energy Performance eCertificate (EPC), and property information form. You'll also need to complete a number of forms and contracts, including the contract of sale, transfer of ownership, and mortgage redemption forms. To help navigate meeting these conditions, it’s recommended to work with a solicitor to make sure everything is completed correctly and legally.

How are solicitor fees calculated?

You’ll be paying a solicitor to carry out what is called the conveyancing process. This refers to the transfer of property ownership titles from one person to another i.e seller to buyer. The average solicitor fee for selling a house can vary widely, depending on a number of factors. Generally, fees are calculated based on the value of the property, the complexity of the sale, and the solicitor's level of experience. There are two main types of fees: the solicitor's basic fee and disbursements.

The basic fee is the solicitor's charge for their time and expertise. Disbursements are costs that your solicitor incurs on your behalf. You’ll likely be charged fees for the following solicitor duties:

• Drafting contracts

• Responding to enquiries

• Investigate issues

• Exchanging contracts

• Handling the transfer of funds

• Communicating with buyers' solicitor

• Approving the deed of transfer

• Obtaining title deeds

• Acting as the recipient of the deposit

These costs are usually dictated by the location and complexity of the sale, so combined with the basic fee, the average solicitor fee for selling a house is upwards of £1500 at the lowest scale, or for larger and high-value properties, you can expect around £5000. Solicitor fees can also be subject to VAT and vary if you’re selling a freehold or leasehold property, so be sure to ask your solicitor about this when discussing fees. It’s important to note that it’s possible to get a licensed conveyancer, instead of a solicitor, to carry out these duties.

However, while they will be specialised in property, they won’t have the experience in complex legal issues that may arise. A solicitor will have both property knowledge and legal expertise, so for this reason, they are usually more expensive than conveyancers. Something you’ll be pleased to hear is that home sellers pay less in legal fees than buyers. This is because their legal duties are not as extensive.

Will I still be charged solicitor fees if the sale falls through?

An unfortunate but common part of selling a house is that sometimes the sale falls through. If you've hired a solicitor, then your charges will depend on the type you’ve chosen. There are some solicitors who operate under a no-sale, no-fee service; however, it’ll be likely that you’ll still need to pay disbursement fees for the work the solicitor has carried out while working previously.

Pros and cons of relying on a solicitor when selling a house

While hiring a solicitor can be a great way to ensure a smooth and legal sale process, there are some pros and cons to consider:

Pros:

Peace of mind: The sale process can be a busy and stressful time, so it can be hugely valuable to have a solicitor, so you can rest assured that all legal requirements have been met and your interests are protected.

Negotiations: Getting the best price for your home is bound to be a top priority during the selling process. A solicitor can increase your chances of reaching this goal as they can advise you on any legal issues that may arise and can use their experience of property value, the market conditions and dealing with vendors previously.

Legal expertise: Understanding and navigating the legal aspects of the sale process is not something that comes naturally to most of us - unless you’re a solicitor. By hiring one, you can rely on these crucial elements of the process being completed in a timely and professional manner.

Cons:

Cost: Hiring a solicitor can be expensive, and fees can vary widely depending on a number of factors. It's essential to carefully consider the costs involved and ensure that they fit within your budget.

Time: Working with a solicitor can add time to the sale process, as they will need to review documents, conduct searches, and complete legal forms. If you're in a hurry to sell your property, this can be a disadvantage.

How do I choose the right solicitor?

Choosing the right solicitor is a serious decision, as they’ll play a crucial role in the sale of your property. Here are some things to consider when choosing a solicitor:

Reputation: Look for a solicitor who has a good reputation in the industry. Ask for recommendations from friends or family, or check online reviews to get an idea of their track record. Accreditation: Select a solicitor who is accredited by the Law Society or another relevant professional body. This will give you confidence in their expertise and professionalism.

Experience: Ideally, your solicitor will have experience in residential property sales. Ask for references or testimonials from previous clients to get an idea of their track record.

Cost transparency: A good solicitor should be transparent about their fees and any disbursements that may be involved. Look for someone who provides clear and detailed information about costs from the outset, as well as fair pricing overall.

Local knowledge: If possible, choose a solicitor who is familiar with the local property market and regulations. If you're selling a property in a complex or highly regulated area, this specialist knowledge will be a huge benefit. Purplebricks also gives an insight into house prices in your area.

Communication: During the sale process, there’s a lot of information to keep up with and have explained, which can feel overwhelming, but a good solicitor will be responsive and easy to communicate with. They’ll keep you informed throughout the sale process and answer any questions you may have.

Compatibility: Selling a house can be a demanding process, so it's necessary to find a solicitor who you feel comfortable working with. Look for someone who listens to your concerns and is willing to work with you to achieve your goals.

Want to find out what your house could be worth?

Book a free house valuation or, if you're ready to list, you can choose Purplebricks to sell your home for you in just a few clicks. We can even help with tips on how to sell your house. At Purplebricks, we don't take a percentage of your selling price. Instead, we'll sell your home for free — really, truly, completely free. Optional extras are only there if you want to use them. Have questions? That's what we're here for.