Solicitors fees for selling property

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shipibo

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A Chairde


I am selling a property, it has been on the market for 4 years, and asking price has dropped from 310K to 100K.

Question I have is regarding solicitors fees.

Initial costs were 1100 plus add ons for extra work, but as price has dropped this is a larger percentage of costs.

What would be acceptable solicitors charges for property if sale price was 80 - 100K ??
 
It seems to me that the work on selling a €100k property is the same as the work on selling a €300k property.

Did they quote you a fixed price or was it a percentage of the sale price? If it was a fixed price, then it would remain the same.

Has the solicitor done any additional work in the last three years? Did you have any queries for her on offers? Did she prepare contracts for sales which fell through? If so, she might well be entitled to charge more.

Brendan
 
Brendan


Work is the same, but as in many things in the economy today , costs are down ... If property is sold today, should I expect to pay 2007 rates ... what would be costs if I went to went to solicitor with property today.

Other costs that have been built up previously can be dealt with seperately,

My main question stands, what is todays rates, as if they maintain the fixed rate I will move business to another solicitor if I can get better value.
 
"what is todays rates, as if they maintain the fixed rate I will move business to another solicitor if I can get better value. "

They've had your file for 4 years? And you want a cheaper price? For something that in the good times might have taken three months to complete?

Costs have not gone down for solicitors. Professional Indemnity insurance has gone through the roof .

At €1100, I would venture to say that your solicitor is working below cost.

mf
 
Mf


I do want a cheaper price, as I said any costs accruing from previous transactions will be dealt with seperately .... I am looking at going forward and what is going rate

I am trying to keep costs down on the property that has lost over 66% of its value since initial agreement, and has no buyer yet.

House may have to be pulled off market due to extreme low valuation
 
As I'm in the process of selling a house (executor for my mother's will), I am very keen to find out the sort of price solicitor's are charging for handling the sale. House will probably sell for €150,000. Would appreciate even very ballpark estimate of solicitor's fees for handling this. Thanks in anticipation.
 
get out the yellow pages and ring around.....most will give you a quote over the phone based on selling price of house- huge variation in quotes so worth shopping around
 
solicitor fee

there are fixed rate fees online around the €800 mark plus outlay, if you google/search they will come up.
 
Sold a house last year and the solicitors fee was 1% of the sale price. That seems to be industry standard. I probably could have gotten out the phone book and called around and probably gotten a flat rate quote. But the solicitor in question has acted for my family before. We were always very happy with him, so we stuck with him. Glad we did. Overall service, efficiency, courtesy and most importantly, the speed of all transactions completed was excellent. Will you get that if you go with a bargain basement, flat rate quote solicitor? Unless some sort of unprofessionalism on his part has stopped the house selling, it is not your solicitors fault if your property has lost 60% of its value over the past 4 years. He still has his own bills, rent and office staff to pay.

That being said, have you queried how the original fee of 1,100 was come too? Is it a flat rate, or a % of the then estimated value of the home. If it is based on the value of the home, you may be able to renegotiate to 2011 valuations. But if the solicitor has been dealing with you for 4 years now, I wouldn't be holding my breath on his being willing to be all that generous.
 
crumdub12 said:
What would be acceptable solicitors charges for property if sale price was 80 - 100K ??
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I don't think the sale price is hugely relevant. I paid a solicitor €1288 re the sale of my house in March/April this year. This was an agreed flat fee, not a percentage of sale price.
 
Hi crumbdub12,
Be careful, some of the people on here can be very sensitive if you mention solicitors and there rates!!!.My advice is to ask around about a good one and do a deal with him or her then.A BAD one no matter how cheap will cost you money in the end


Pat
 
beffers said:
Unless some sort of unprofessionalism on his part has stopped the house selling, it is not your solicitors fault if your property has lost 60% of its value over the past 4 years. He still has his own bills, rent and office staff to pay.

That being said, have you queried how the original fee of 1,100 was come too? Is it a flat rate, or a % of the then estimated value of the home. If it is based on the value of the home, you may be able to renegotiate to 2011 valuations. But if the solicitor has been dealing with you for 4 years now, I wouldn't be holding my breath on his being willing to be all that generous.
Click to expand...


Beffers,


Have,nt blamed anyone for the situation, and understand he has to keep the kids in school etc ... was asking for experience of prices before approaching them to renegotiate
 
MichaelM,

You don,t think price of property is relevant ...... we will agree to disagree
 
postman pat said:
Hi crumbdub12,
Be careful, some of the people on here can be very sensitive if you mention solicitors and there rates!!!.My advice is to ask around about a good one and do a deal with him or her then.A BAD one no matter how cheap will cost you money in the end


Pat
Click to expand...


Pat


Have noticed this !!!!
 
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