Conveyancing fees

H

Haille

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Just wanted to know what should the approx legal fees should be on buying a second property.The property in question is being sold by my brother to me.I will have to remortgage my own house for 100,000 euro.Is it a percentage of the sale price or are fees fixed.Is there a conveyancy website where it might be cheaper? I have no existing mortgage on my house so I have the title deeds in my possession.
 
A good friend of mine down in Wexford recently had dealings with MJ O'Connor - said they were very good.

I think it's www.mjoc.ie

No Affil
 
Just a final question on conveyancing .In my original question if one re mortgages to buy a 2nd. property would one incur more legal fees ? The title to the 2nd. property has to be transferred to my name and the bank or building society'interest has to noted on the deeds of main residence.
Would I be better off not to re mortgage ,take out a loan on the 2nd. property.Less work for the solicitor,less fees for me? One building society with good rates only offers re mortgage on 2nd.property.I built my main residence 18 years ago so I am out of touch with present day fees.
 
As your PPR is unencumbered and already registered, the solicitor will be taking a first charge on your home ie if you decide to borrow against it.

As the solicitor has to transfer the title of the second property into your name s/he will have to register the deeds. If you decide to take a mortgage on this property, the solicitor will have to take a charge on your second property.

You need to compare interest rates as investment properties may incur higher interest rates than PPR's and calculate this, along with any eligable tax relief, into the costs rather than just the cost of conveyancing.

When you decide, you need to speak to your solicitor about the fees and shop around to get a few quotes.
 
Hi all,
This is my first time selling and buying a house and basically have no idea so hoping you can advise me.
Myself and partner were recommended a solicitor. This family friend is a commercial auctioneer and i trust him. Anyway, we rang the solicitor and she quoted us close to 4000 euro for buying and selling a property and whatever other charges incur. Does this seem right? From what i've heard, 2000 would be the norm or does it depend on whether you are just buying or just selling, etc.
Thanks.
 
Quotation sounds very much on he high side. presumably the deal is a straightforward buy/sell one. Why not ring another couple of solicitors and get a quote from them. You could then go back to the recommended solicitor and give them the option of matching a competitor. i have done this with my own solicitor and he had no problem matching the competing quote to get the business. He's probably a sorry man now because he had to work hard for his money as there were a number of problems with the purchase transaction.
 
"He's probably a sorry man now because he had to work hard for his money as there were a number of problems with the purchase transaction."

I know that on this board we primarily only get people who are having trouble in (e.g.) completing transactions and that there is a view still held that a fixed price/low cost service is just that and that no matter what goes wrong, the solicitor should be stuck with the fee agreed.

I think thats a bit unfair and I find if I do fall into the trap of agreeing a fixed price, that I will always insist on an increased fee clause if the transaction does become troublesome.

Do people thinks that fair or do they think that fixed price should be fixed price no matter what? And if so, why? If the problem is one entirely outside the control of the solicitor?

mf
 
Hi MF1,

It's not fair, and the glee which many people seem to exhibit when solicitors lose out is a little irritating, but if a solicitor is foolish enough to stipulate a fixed fee without catering for contingencies, then the solicitor, and not the client, should bear the consequences.


My own view is that where a job goes pear-shaped and the agreed flat fee goes nowhere near covering the work done (and there is no prior agreement to increase the fee in the event of things going pear-shaped), the account should show what the full fee would be for the amount of work done. However, if the client refuses to pay more than what was originally agreed, then the solicitor really should take it on the chin (and should also have the good sense to turn away any further work from this client.)
 
The house we have at the moment is under the shared ownership scheme with dublin city coco. solicitor said that it can be messy. will try a few more solicitors for quotes.
 
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