So you've decided which conveyancing provider to use, and you've been sent a conveyancing quote detailing all the different costs you will incur throughout the conveyancing process.
But what does it all actually mean?
A conveyancing quote is basically split into two parts:
· The Legal Fee, and
· The Disbursements
Legal Fee
The Legal Fee is a professional fee designed to cover things like the risk involved to the conveyancing firm during the conveyancing process and the time spent by the conveyancing solicitors lawyer on the transaction.
Be wary of firms that advertise "cheap conveyancing", as low conveyancing fees are often designed to lure you in, before the conveyancing provider adds on lots of extra disbursements which may bump up the cost.
Look out for the best conveyancing firms who promise a "fixed legal fee" that won't change, no matter how much conveyancing work is needed on a transaction.
However, it's really important for you to make your conveyancing lawyer aware of any unusual circumstances, for example if your purchase is leasehold, or if you require a 'deed in trust' immediately, as these trickier transactions result in extra fees.
Another sign of a respectable conveyancing firm is if they have a "no move, no legal fee" guarantee, so if your move fails to complete, you won't be charged for services you no longer require.
Disbursements
The Disbursements are the third-party costs incurred by your conveyancing lawyer, which are then passed on to you as a mover.
Be careful to always read the Terms and Conditions of your conveyancing contract.
If you're unsure about any of the terms in our Spotlight on Conveyancing features, or you want more information on conveyancing fees, visit our Conveyancing Glossary.
Get a great value, no obligation quote from 1st Property Lawyers today. They offer high quality conveyancing, taking care of the legal side of moving in an innovative a proactive way - everything a traditional high street Solicitor would do for a move, but much more too.