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Legal fees high?

  • 29-06-2022 5:31pm
    #1
    Registered Users Posts: 163 ✭✭


    Hello

    I am currently in the market to purchase a 1 bed apartment and was baffled when I got my first quote from a solicitor for the work involved. When I applied for my mortgage, the mortgage specialist told me to expect to pay c. 1,750 on legal fees but the quote I got back was significantly higher so I just wanted to check if I'm being ripped off here.

    1 bed apartment in Dublin for €220k-€240k via mortgage (and deposit) is the info I provided the solicitor in order to obtain a quote. They came back with the following:

    Legal fee: 2,000 + VAT at 23% so 2,460 all in.

    Outlays as follows:

    • Closing searches 290 euro
    • Stamp duty TBC
    • Land reg fee on mortgage 175 euro
    • Land reg fee on deed 700 euro (i cannot believe this one)
    • Folio 40 euro
    • Commissioner for oaths 25 euro

    So all in, excl. stamp duty, it is 3,690 which is significantly higher than what the mortgage specialist told me to expect haha.

    This may be a fairly normal quote but I've never bought a property before so I don't know. What is the best way to find a solicitor to obtain a couple of quotes?

    Thanks



Comments

  • Registered Users Posts: 206 ✭✭Mr Hindley


    It looks about right, tbh - the 1,750 would have been just for the solicitor's costs, I'd say, not for all the extras on top which are pretty standard. And I've had other solicitors quote more than 2000.

    Getting the right solicitor is really key, if you have a personal recommendation from someone you trust, then don't try to cut corners - a good vs a bad solicitor will make a huge difference to how the process goes!



  • Registered Users Posts: 7 AgentCluedo


    Best to select a few small practitioners - sole traders or ideally two or three person practices just in case they go on holidays and delay a sale. In the last few years I have paid 1,500 + land reg fee for registration. Best to to phone and send standard email to three or fours solicitors and let them know you a shopping around.



  • Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 64,233 Mod ✭✭✭✭L1011


    2000 ex vat could be cheaper but wouldn't be the dearest either.

    My solicitor that I've used for purchase and remortgaging did a super simplistic (inter family, no contentiousness, registered folio, pre 63 so no planning, etc etc) purchase late last year for 950 ex vat, and I'm fairly sure that was a returning customer rate and would be more now too. Two solicitor practice.

    Those land registry fees are, unfortunately, legit.



  • Registered Users Posts: 661 ✭✭✭you2008


    "So all in, excl. stamp duty, it is 3,690" - for Dublin this is a normall price.



  • Registered Users Posts: 110 ✭✭LunaLoo


    You're breakdown is almost identical to our quote. But whatever you do don't go with the cheapest. Find someone that comes recommended who will get the job done for you. We went with one who weren't the cheapest but seemed to say all the right things and they've been an absolute nightmare to deal with.



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  • Registered Users Posts: 716 ✭✭✭macvin


    Doesn't really matter if it's a 50k property or a €1m property, One bedroom or 10, legal fees will be much the same.

    Even the land registry fee doesn't change much. €600 under 200k, €800 over 400k.


    It's about right in imo. I paid similar for a 90k property in 2020 and use the same solicitor for several things.



  • Registered Users Posts: 661 ✭✭✭you2008


    you are missing my point, i am not talk about property cost, I was ref to living cost in Dublin. AKA you always need to pay a bit more for Dublin .......



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