Solicitor's Fees

JJ

Does anyone know what the average solicitor's fees would be when you're buying a home? The wif and I just bought our first home and we did get a discount on the fees though it still seems like a lot but our solicitor did give a detailed breakdown of all the fees.

The_Conductor

JJ wrote: »

Does anyone know what the average solicitor's fees would be when you're buying a home? The wif and I just bought our first home and we did get a discount on the fees though it still seems like a lot but our solicitor did give a detailed breakdown of all the fees.

There isn't a set fee. It depends on what the paperwork entails. If there is a lengthy document search- you could end up spending thousands. There were all sorts of bargain basement solicitor packages available in the height of the boom- the headline figure was a grand all-in. Its more reasonable to suggest that somewhere north of 2k would be considered normal- but go through the breakdown you have been given, item by item, and query any amounts you are unhappy with.

antoinolachtnai

mmm ... it depends. there used to be a set fee, 1 percent + search fees + vat. Nowadays, that is sort of an upper limit.

Generally solicitors will quote a set fee for a conveyance.

There's also a cost for selling the old house.

If you search on daft, there are still guys doing good conveyancing deals. I saw a guy in donegal doing around 800 euros including VAT. There is no real reason why you need to be close to your solicitor, if price is an issue, though it is certainly convenient.

A cheap conveyance needn't be worse or better than an expensive one.

That all said, it is worth the extra to have a solicitor you feel you can work with and really trust.

Johnny Bitte

We called a few locals earlier last week and one guy quoted us €2000 while another woman qouted €1600.

All I can say is shop around.

antoinolachtnai

Make sure to check whether quotes are ex/inc vat and ex/inc search fees.

johnnyskeleton

antoinolachtnai wrote: »

A cheap conveyance needn't be worse or better than an expensive one.

It needn't, but it often is. If you think about any service, from an electrician, accountant, doctor, etc, cheaper services are often of a lesser standard as the service provider needs to complete the services in much less time so as to maintain their income.

Same with solicitors - you might find that the guy who offers to do the conveyance for €699 + VAT + outlay might omit to take a certain step. It's a personal choice, and if you pay more to a more reliable solicitor you are paying for peace of mind as much as anything else.

If I were buying a house, I wouldn't scrimpe and save on a solicitor, surveyor, any workmen (if required) etc, whereas I would happily buy the cheapest furniture, carpets, paint etc. Unfortunately, most people will try to get the cheapest solicitor, will do the survey themselves and will try to save as much money on professional services as possible because they can't see these things. They will then spend lots of money on flat screen TVs etc. This all seems fine in the short term, but in 10 years time, when they go to sell the property and realise that there is a problem with title or that there are structural defects with the property they will be in trouble, and it will take a lot of money and stress to sort out the mess.

By the way, you should be able to get a very good solicitor to do the conveyance for c. €1500 + VAT + outlay for a standard residential conveyance (larger houses and commercial conveyances cost a lot more).

ZYX

johnnyskeleton wrote: »

It needn't, but it often is. If you think about any service, from an electrician, accountant, doctor, etc, cheaper services are often of a lesser standard as the service provider needs to complete the services in much less time so as to maintain their income.

Totally untrue. As a doctor the amount a doctor charges has nothing to do with the quality of the doctor or the quality of the service given. Professionals such as doctors, accountants or solicitors have very different costs. These are reflected in the amount they charge. You will often find solicitors in a certain area (esp small to medium sized towns) all charge the same amount. This is unofficial price fixing and these solicitors should be avoided. Get a recommendation for a solicitor if you can otherwise get the cheapest solicitor possible.

JJ

Thanks everyone. Our fees were just south of 2k so I think we did OK. The wif just wanted me to ask around about this. I think our solicitor did a good job and the fees won't break the bank for us. As I mentioned, this is the first time we've bought a house.