How to Interpret your Conveyancing Quote

May 25, 2012

So, you’ve managed to obtain several seemingly valid conveyancing quotes and now you have the difficulties decision of choosing one specific provider. In order to make the decision, it is necessary to be able to interpret the conveyancing quote that has been received so that they can be compared as it is unlikely that two quotes will be the same.

Interpreting the Conveyancing Quote

When looking at a conveyancing quote there are several key areas which need to be considered in order to be able to accurately compare several different quotations. Firstly, when looking at a conveyancing quote determine whether it is for a one off fixed fee or whether it is based on a specific hourly rate and look at whether VAT has been included. This immediately gives you an understanding of the conveyancing quote that has been received and the likely overall costs that are associated with the conveyancing quote. If these issues are not clear as part of the conveyancing quote then make sure that you ask the questions so that there are no unexpected charges at the end of the process.


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Things to look out for with a Conveyancing Quote

As well as the actual figure being charged by the conveyancing quote there are other issues which need to be looked at for the purposes of comparison. Firstly, ask the provider of the conveyancing quote whether or not they offer anything in the event that the sale or purchase falls through? Many conveyancing quotes will allow for a customer to have a failed purchase or sale and then to locate another property all within the original conveyancing quote (although costs and disbursements may not be extra). Find out the precise expected costs of disbursements. These will need to be paid regardless of which conveyancing quote that you opt for but they need to be taken into account when looking at the overall fees being paid out.


Getting the best from your Conveyancing Quote

As well as the unknown and extra costs that may be associated with a conveyancing quote there are concerns that some conveyancers may not operate as efficiently as others. It may be a false economy to opt for the cheapest conveyancing quote if this organisation will take several more weeks than others to complete the task. Find out information such as whether you will have a specific point of contact and the way in which they work in order to produce an efficient service. Take the time to gather reviews on the various different companies that you have obtained a conveyancing quote from and weigh up all aspects of the conveyancing quote obtained.

A conveyancing quote is rarely exactly as it seems so resist the temptation to simply look at the bottom line and opt for the cheapest available option. Compare all factors, financial and otherwise before deciding on the best conveyancing quote to meet your needs.

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Category: Buying or Selling

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