Solicitors Fee For Buying A House

If you want to buy a house, you will have to hire a solicitor – that is just how it goes. Of course, his/ her services will not be free, so you have to brace yourself for some additional expanses – not only the house value and mortgage fees. Solicitors fee for buying a house can vary, and the entire cost of working with a solicitor will depend on the services you order. Normally, it is important to differentiate between bare solicitors fee for buying a house and additional property valuation reports he/ she might prepare upon your request.

 

Solicitors Fee For Buying A House

Bare solicitor’s fees

Bare solicitors fee for buying a house starts at £500 and may reach up to £1500 – depending on your region, solicitors reputation, etc. In addition, 10% of the sum should normally be deposited upfront. Note, that this is the cost of solicitor working on your contract – that’s it. If you want to order property survey, the solicitor will charge you extra £250-£300 – simply for working on these reports for you.

Valuation surveys

The reports in question can be quite expensive, too. The total of cost of most common reports starts at  £1250. Even though it is not necessary to order all of them, some of these surveys may prove very useful to figure out an objective value of the house in question. Your solicitor will find out whether there is any municipal work planned that can affect future value of the property. Also, consider some of the following surveys.

Home condition survey – is the cheapest of all reports. The cost typically starts at  £250. Yet, this kind of a report will not give you any detailed information, so ordering it may be a waste of time and money – after all, you can usually evaluate home condition with your own eyes – no need to hope that this survey will come as a shocking revelation to you.

Homebuyer’s survey is usually a more detailed report, and it costs  £400 or more. This one can actually offer some information that may prove useful to you.

Yet, the most important survey is a structural one. It is the most expensive of all (£600+), but the cost is usually worth it, as the report carefully analyzes architectural condition of the house.

Though, of course, this is not the end to your home buying expenses. Even after closing the deal, signing the contract and paying solicitors and mortgage fees, you still should have some personal savings left, because moving into a new house is associated with more expenses. If you have a lot of furniture that needs moving, get ready to hire a professional company to cope with the task (normally, about £300-£600). If you do not have any furniture to move – then, get ready to hit the stores  (here the price range will depend on your needs and expectations). In any case, you will need to buy some stuff before you move in (a bed , for starters), so do not hurry to spend all of your savings on the first deposit, mortgage and solicitors fee for buying a house.