solicitors fees question

BlueIsland

Calling a few places but looking for a solicitor to complete purchase house. really dont have much of a clue of this stuff so hopefully somebody here will. This is quote we got...
House-225,000

registry fee mortgage-125
land registry-375
fee to open folio-60
fee for folio and file plan-25
search fees- 72
professional fees- 900
Vat - 189
stamp duty- 1983

total- 3729!

Is this reasonable? Ive looked about and it seems good. can do nothing about stamp duty. thats just way it is. mainly wondering about rest!

thanks

wasnt sure where to post this so posted to couple forums!

jblack

The only area the solicitor is actually charging you for is professional fees.
The rest are prescribed amounts and will be the same no matter where you go.

€900 sounds fine - there are cheaper but not much but conversely some firms charge much higher.

BlueIsland

yeh thats exactly what i was thinking! only wiggle room is on professional fees and ya be going well to get somebody below 900 Id presume? ( thats any good. This solicitor been recommended!)

jblack

If the solicitor has been recommended use them.

The price is fine.

ResearchWill

Of the total of €3729 the Government get a grand total of €2757 and the lawyers are called the robbers. BTW €900.00 in current market is from what I hear, a good fee. Even .5% of purchase price is €1125.

BlueIsland

Yeh in fairness Im not gonna get too worked up about the stamp duty as i said 1983 euro!!! for the simple reason house is prob 200000 cheaper or more than would have been few years back! Doesnt make stamp duty right for a first time buyer but no point crying over something cant do anything about! Does much work go into the 900 euro? I been reading up but just wondering whats the workload?

ResearchWill

BlueIsland wrote: »

Yeh in fairness Im not gonna get too worked up about the stamp duty as i said 1983 euro!!! for the simple reason house is prob 200000 cheaper or more than would have been few years back! Doesnt make stamp duty right for a first time buyer but no point crying over something cant do anything about! Does much work go into the 900 euro? I been reading up but just wondering whats the workload?

You have asked how long is a piece of string, a new house in an estate that the solicitor has done other houses means the solicitor has gone through most of the paper work before. A stand alone house where solicitor has not seen booklet of title will mean a good few hours reading and researching. To do it right will usually involve a fair few hours. Even taking a minimum of 10 hours that's only €90 an hour while that sounds good after paying expenses of practice lucky if left with €30 to €50 an hour.

From what I am hearing not doing this work will reduce insurance quote by 10k. So first 10 a year just pay insurance.

BlueIsland

ResearchWill wrote: »

You have asked how long is a piece of string, a new house in an estate that the solicitor has done other houses means the solicitor has gone through most of the paper work before. A stand alone house where solicitor has not seen booklet of title will mean a good few hours reading and researching. To do it right will usually involve a fair few hours. Even taking a minimum of 10 hours that's only €90 an hour while that sounds good after paying expenses of practice lucky if left with €30 to €50 an hour.

From what I am hearing not doing this work will reduce insurance quote by 10k. So first 10 a year just pay insurance.

really have no clue so thats why asked the piece of string question!! I dont get your last insurance point ?as in a solicitor would be better off not doing these jobs?

jblack

ResearchWill wrote: »

r.

From what I am hearing not doing this work will reduce insurance quote by 10k. So first 10 a year just pay insurance.

Depends on volume if it's worth it or not.

PI in some instances has been reduced by 16k where undertaken given only to transfer or convey in very limited circumstances ( e.g. part of divorce settlement).

Personally I'd rather stick pins in my eyeballs than do a conveyance/transfer.