Conveyancing prices and hidden costs
If you are planning to buy or sell property in the UK, you will have to go through conveyancing process. It is nothing but a process of legal transfer of title from the owner to the buyer. It is quite a stressful period as lawyers and lots of paper work is involved. It usually takes 10-12 weeks to complete all the legal formalities for the property transaction. There are plenty of conveyancing firms who claim to provide their services at low conveyancing prices. Cheap offers are not always good; there can be chances where you can become a victim of any land scams or incomplete dealings with legal defects in the final contract. It is always wise to hire good and reputed conveyancers for your property transaction.
Then there are some good conveyancing firms who are handling deals on a large scale and can afford to give you cheaper conveyancing quotes and good service together. One should be always beware of companies who claim to offer cheap prices, but actually charge you more after the completion of the transaction. One should verify certain things before finalizing the conveyancing company to avoid paying extra charges. In the UK the conveyancing solicitors charge in three ways. First is on a fixed fees basis, which means the amount to be paid after the completion of the deal is fixed and will not vary in any case. Second way of charging is based on a scale that links their fee to the value of the property being sold or brought. Lastly, they can also charge on hourly basis. Amongst all the three last option should be avoided since it can blow up your entire budget. Firms quoting cheap conveyancing prices might not mention, but can charge you on hourly basis after the completion of the deal. These are hidden costs and all the customers should ask upfront questions regarding the fees and take the amount in writing from the conveyancing company.
Cheap or low conveyancing prices are just to attract customers. Once the deal is complete they can add miscellaneous charges like call charges, hourly charges, postal or courier charges at the end of the deal. These hidden charges can make the payable amount big and you might become a victim by paying them. In all cheap conveyancing quotes can turn out to be something far more expensive. It is always recommended to read the fine print to track any hidden or unexpected additional charges.
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