Farm transfer - Solictor fees

lakill Farm

Hi all.

Whats the going rates for solicitor fees for transferring land from a father to son. I think 3 differnent folios, and acerage is about 45 and value €8/8.5k pa.?


WHat other fees were incurred apart from this?

• engineers for confirmating folios?
• accountants for CGT for father & CAT for son and stamp duty computation
• any other ones such as OS maps and land registration fees?

Thanks

JohnBoy

I think ours cost around €1,600 all in for one folio, tax exemption under ag relief and creation of the seperate folio/maps/land registry stuff.

We did land, and a site seperately and the price was the same for each transaction. One solicitor and one accountant acting for both parties.

I dont think the accountant charged anything for it.



Personally I dont see how solicitors can justify working on a percentage of the property's value. Makes sense for an estate agent, but not the solicitor

Figerty

JohnBoy wrote: »

I think ours cost around €1,600 all in for one folio, tax exemption under ag relief and creation of the seperate folio/maps/land registry stuff.

We did land, and a site seperately and the price was the same for each transaction. One solicitor and one accountant acting for both parties.

I dont think the accountant charged anything for it.



Personally I dont see how solicitors can justify working on a percentage of the property's value. Makes sense for an estate agent, but not the solicitor

Makes no sense for estate agents either. Dealt in the uk once and it was fixed rates.

Red Sheds

The same Solicitor cannot act for both parties any more, both need to have independent legal advice, so will cost a bit more. Would not be sure on the costs, but shop around could be a way to go here. I always find its good to stick with a legal firm that knows your business and you have a relationship with even if it costs a bit more.

Farmer Pudsey

Red Sheds wrote: »

The same Solicitor cannot act for both parties any more, both need to have independent legal advice, so will cost a bit more. Would not be sure on the costs, but shop around could be a way to go here. I always find its good to stick with a legal firm that knows your business and you have a relationship with even if it costs a bit more.

The same solicitor cannot act however I thiink that you can use two different solicitors from the same practice. Get a fixed fee from the solicitor's there is no reason that the fee's should run above 1500 euro/ client and maybe less watch out for vat and sundries these can add up. Get a complete bill from the solicitors get a quote from 2 or 3 firms. No need for an engineer the land is not going to change unless you are splitting land on sites etc. If you are capable you can do this your self.

One accountand can advise both of you. The may try to charge to charge an arm and led for serches you can ring the register office to get cost details youself.

Heard a story of a ould lad that was being charged I think 300 euro for one. Hopped on the train ( I taught they said he went to Dublin however the Land Registery is in Waterford I think) got a bus to the land registery paid 30 or 40 for what he wanted had dinner and a few pint while waiting for the train. As he had the bus pass the whole lot cost him less than 100 euro. Landed into the solicitor and threw them on the desk and said any more ****e and he be moving his buisness. Nothing like a tough ould codger. 200 euro was not bad for a day work and a couple of free pints as well.

Maybe it is only an urban(rural) ledgend.

maidhc

Farmer Pudsey wrote: »

The same solicitor cannot act however I thiink that you can use two different solicitors from the same practice. Get a fixed fee from the solicitor's there is no reason that the fee's should run above 1500 euro/ client and maybe less watch out for vat and sundries these can add up. Get a complete bill from the solicitors get a quote from 2 or 3 firms. No need for an engineer the land is not going to change unless you are splitting land on sites etc. If you are capable you can do this your self.

Unfortunately it must be two different firms.

Generally "outlays or sundries" in the transfer of a folio will top €900 if money is changing hands. The majority of this will be land registry fees which goes straight to the government.

Tend to agree with pricing around, but also not all solicitors are the same. Many are completely incompetent and I wouldnt trust them to convey an idea, and I say this as a solicitor myself.

Farmer Pudsey wrote: »

One accountand can advise both of you. The may try to charge to charge an arm and led for serches you can ring the register office to get cost details youself.

Heard a story of a ould lad that was being charged I think 300 euro for one. Hopped on the train ( I taught they said he went to Dublin however the Land Registery is in Waterford I think) got a bus to the land registery paid 30 or 40 for what he wanted had dinner and a few pint while waiting for the train. As he had the bus pass the whole lot cost him less than 100 euro. Landed into the solicitor and threw them on the desk and said any more ****e and he be moving his buisness. Nothing like a tough ould codger. 200 euro was not bad for a day work and a couple of free pints as well.

Maybe it is only an urban(rural) ledgend.

Searches cost about €100. The codger could have saved €100 and had the professional indemnity insurance of a law search firm to fall back on! If he needed to find out details from the land registry he could have just done it online for under €20.

Farmer Pudsey

maidhc wrote: »

Unfortunately it must be two different firms.

Generally "outlays or sundries" in the transfer of a folio will top €900 if money is changing hands. The majority of this will be land registry fees which goes straight to the government.

Tend to agree with pricing around, but also not all solicitors are the same. Many are completely incompetent and I wouldnt trust them to convey an idea, and I say this as a solicitor myself.



Searches cost about €100. The codger could have saved €100 and had the professional indemnity insurance of a law search firm to fall back on! If he needed to find out details from the land registry he could have just done it online for under €20.

I do not mind outlays however sundries such as photocopying or postage is a bit rich. As is charging above cost for items. The reason for this is I or OP is often paying top dollor and then get charge on the double.

I often equate it to a builder giving you a price for building a house and then charging you for the blocks.

maidhc

Farmer Pudsey wrote: »

I do not mind outlays however sundries such as photocopying or postage is a bit rich. As is charging above cost for items. The reason for this is I or OP is often paying top dollor and then get charge on the double.

I often equate it to a builder giving you a price for building a house and then charging you for the blocks.

I agree. It annoys me too (and I'm a solicitor!).

JohnBoy

Figerty wrote: »

Makes no sense for estate agents either. Dealt in the uk once and it was fixed rates.

meh, they're a selling agent, their job is to secure the highest price for the seller, the traditional way of incentivising sales people is pay them peanuts and give them a commision percentage.


I dont nessecarily like it, but I understand it.