Solictors Fees - am I being ripped off @ 1%?

sapper

Hi - sold my house last year using the solicitor I used back in 2006 to buy it. Solicitor is a well established Dublin firm <MOD SNIP >. To my shame I didnt discuss fees when getting them onboard last year to sell my house and when the final bill came it was 1% (of 350k price) plus VAT plus search fees etc. - just like the 1% I paid when buying in 2006 (at 465k!)

I'd like to use them again when buying (hopefully soon) but am I right in saying that 1% solicitors fees havent been around since Bertie Ahern was Taoiseach?

Id like to call them up an offer them the business (my purchase of a house in the 450-550k range) but only at 3500. Is that the done thing with these old Dublin firms?

Want to get all these sorted before I start bidding on places....

Graham

Get quotes from a couple of solicitors to get a better idea. You can always use the new quotes to encourage your existing solicitor to revise his.

Current ballpark appears to be in the region of €1000 - €1500 + VAT + Outlays.

crooked_feet

around 2 k + vat would be average for dublin so your guy appears to be overcharging , a flat fee is more the norm nowadays rather than a percentage of the sale or purchase price , dont always go with the cheapest , i went with a solicitor who charges 900 euro + vat recently , guy is completely incompetent and may end up costing me the deal

April 73

1% of value of a €450-€550k house is a complete rip off. Flat fee between €1000 & €1500 plus vat plus outlays would be the norm now.

Smiley11

I'm paying €1750 + VAT. Its higher than the norm but I've had the same solicitor for years & hes excellent so I'm happy to stay in my comfort zone even though I know I could get cheaper. From what I hear, its very possible to get a competent one offering reasonable rates.

Arbiter of Good Taste

Pay peanuts, you get monkeys. With my first place, I went on the basis that conveyancing is standard, so went with the cheapest. The guy was incompetent and should not be allowed to practice.

When I was buying a few years ago, I went on a recommendation. Cost €2,500 plus VAT and expenses, and it was the best money I spent. Having a stress free transaction is worth any amount of money.

If you can trust your guy, stay with him

Geuze

I paid 900/950 + VAT plus outlays in 2005.

Same solr, based in Dublin, charged not much more last year.

Low fees, all communication done by e-mail, no problems with work.

Grolschevik

Arbiter of Good Taste wrote: »

Pay peanuts, you get monkeys. With my first place, I went on the basis that conveyancing is standard, so went with the cheapest. The guy was incompetent and should not be allowed to practice.

You should have reported him, so...

sapper

thanks all - will definitely be looking for them to charge around the 2k mark so otherwise will have to shop around....

Arbiter of Good Taste

Grolschevik wrote: »

You should have reported him, so...

Unfortunately the law society will not pursue except in cases of gross negligence or stealing from clients. All I can do is warn others off him.

Arbiter of Good Taste

sapper wrote: »

thanks all - will definitely be looking for them to charge around the 2k mark so otherwise will have to shop around....

High costs do not not necessarily mean good quality. The best thing is a good recommendation from someone you trust

Rew

I paid 850+ VAT when selling last year and after the other side mucked up and delayed things I checked out their Sol and they were bigger firm then my guy and charged 1%. Bigger money doesn't mean more quality. Even breaking it down. Why 1%? Is there more work for them to do the more expensive a house is...? If its a straight forward sale there is no need to multiple thousands fee. With a purchase you do want a solicitor who is on the ball.

digiman

What kind of things can they do wrong or mess up?

I'm buying a new house and not that convinced by my solicitor so far.

m'lady

We paid €750 plus VAT.. So around €930. Not a bad price and she's been fairly on the ball.
I do think solicitors really add to the delay in house purchases, it nearly feels like it's to justify their charges!

m'lady

digiman wrote: »

What kind of things can they do wrong or mess up?

I'm buying a new house and not that convinced by my solicitor so far.

Well what is making you feel that your not that convinced so far?

beaufoy

If you buy at auction and do not need a loan then do the conveyancing yourself its easy

sapper wrote: »

Hi - sold my house last year using the solicitor I used back in 2006 to buy it. Solicitor is a well established Dublin firm <MOD SNIP >. To my shame I didnt discuss fees when getting them onboard last year to sell my house and when the final bill came it was 1% (of 350k price) plus VAT plus search fees etc. - just like the 1% I paid when buying in 2006 (at 465k!)

I'd like to use them again when buying (hopefully soon) but am I right in saying that 1% solicitors fees havent been around since Bertie Ahern was Taoiseach?

Id like to call them up an offer them the business (my purchase of a house in the 450-550k range) but only at 3500. Is that the done thing with these old Dublin firms?

Want to get all these sorted before I start bidding on places....

The_Conductor

digiman wrote: »

What kind of things can they do wrong or mess up?

I'm buying a new house and not that convinced by my solicitor so far.

Files not completed on time- or dealt with by a junior in the office.
Information sent to a vendor's solicitor before you have fully decided how to proceed.
Funds not forwarded to a seller's solicitor in a expeditious manner.
Incomplete conveyancing.
Nit picking at details (such as a prospective purchaser having sole access to a balcony or a private garden- when its actually vested in a management company).

The things that a poor solicitor could screw up- is a long and meandering list. A significant number of the good property solicitors have moved out of the profession (hell- there are entire practices in the UK and South Africa staffed solely with Irish solicitors these days- its quite remarkable when you come across them in the course of business........)