Buying a house - solicitor fees

podge018

Received an estimate of costs from a solicitor, just wondering if it's a good price. Never done this before so wouldn't know if I'm being ripped off.

Estimate of Costs

Outlay
Land Registry fees to lodge Deed of Transfer: €600
Land Registry fees to lodge Deed of Mortgage: €175
Copy Folio and File Plan: €40
Opening New Folio (if applicable): €75
Subtotal for Outlay: €890


Searches
Fee to order Bankruptcy, Judgment, Folio &
Company Searches on closing as required by the
lending institution: €50

Planning Search (if required): €100

VAT @ 23%: €34.50
Subtotal for Searches: €184.50

Stamp Duty:

Stamp Duty on Transfer @1% €2,380
Subtotal for Stamp Duty: €2,380

Professional Fee: €900
VAT @ 23%: €207
Subtotal for Professional Fee: €1,107

TOTAL: €4,561.50

killers1

podge018 wrote: »

Received an estimate of costs from a solicitor, just wondering if it's a good price. Never done this before so wouldn't know if I'm being ripped off.

Looks reasonable enough to me. The outlays and stamp duty will the same irrespective of which solicitors practice you use. It's the professional fee that you use to compare between solicitors quotes & €900 is a reasonable fee.

valleyoftheunos

a €900 professional fee is very reasonable.

Gweedling

€900 fees is good, same as what I paid for my place, and that was discounted. Total cost was less than yours as the stamp duty was a few hundred quid less (cheaper house). I'd be happy with that price if I were you.

Brewie

Removing Stamp Duty your fee is €2181.50

I purchased my house in mid 2011 and I paid €1600.00 all in excluding Stamp Duty plus a Will thrown in. In the Drogheda Region though.

valleyoftheunos

Brewie wrote: »

Removing Stamp Duty your fee is €2181.50

I purchased my house in mid 2011 and I paid €1600.00 all in excluding Stamp Duty plus a Will thrown in. In the Drogheda Region though.

and €1100 euro of that is outlay and searches which can't be avoided and is going to cost the OP the same wherever he goes.

TheDriver

looks good. Must say I find it strange that stamp duty is put into that quote because its not a fee or search but a tax that everyone knows they must pay anyways??

killers1

TheDriver wrote: »

looks good. Must say I find it strange that stamp duty is put into that quote because its not a fee or search but a tax that everyone knows they must pay anyways??

Solicitors include stamp duty in their quote because they are the ones responsible for paying it to Revenue and collecting it from the purchaser.

robjones1981

TheDriver wrote: »

looks good. Must say I find it strange that stamp duty is put into that quote because its not a fee or search but a tax that everyone knows they must pay anyways??

This because Sols are the ones who must ensure SD finds it's way to the Revenue

Dublin25

Brewie wrote: »

Removing Stamp Duty your fee is €2181.50

I purchased my house in mid 2011 and I paid €1600.00 all in excluding Stamp Duty plus a Will thrown in. In the Drogheda Region though.

Last year the land registry fees nearly doubled, so its bound to be more expensive now.
Got a solicitor, recommended by Killers and only quoted €700 for profess fees plus vat.

TimotiSt

Possibly stupid question:
Stamp duty is 1% of the sale price? So if I buy a place for 135.000, stamp duty is EUR 1350, right?

mel.b

TimotiSt wrote: »

Possibly stupid question:
Stamp duty is 1% of the sale price? So if I buy a place for 135.000, stamp duty is EUR 1350, right?

That's right