Convayance fees (first time buyer)

Honestfrank01

Hi just looking for general information on fees for convayance. First time buyer nearly ready to go and doing the last few sums. Looking at buying a house in Galway rough price guides I am coming back with is 2750euro (not including stamp duty) for legal fees I dunno if that's a bit steep or am I looking at the right price at that? Any information would be useful
Cheers

Samuel T. Cogley

You really want to separate out the professional fee and compare those. Outlays are outlays and won't change. Get at least 5 quotes and go with someone in the middle. The cheapest ones will be so busy that they may not return calls/emails in a timely manner, may delay the closing and will advise you to walk at the first sign of any hassle with the property.

1641

If the transaction proves to be totally straight-forward and complication free, then it shouldn't make much difference who you choose .But if you bank on this you may be mad. If at all possible try to get some type of personal recommendations. After that look at prices. And you don't need a solicitor in Galway to buy in Galway. A solicitor doesn't need to go near the property. A competent and responsive solicitor saves a lot of hassle - and maybe money.

Cuddlesworth

Samuel T. Cogley wrote: »

You really want to separate out the professional fee and compare those. Outlays are outlays and won't change. Get at least 5 quotes and go with someone in the middle. The cheapest ones will be so busy that they may not return calls/emails in a timely manner, may delay the closing and will advise you to walk at the first sign of any hassle with the property.

If I could go back, I would not have gone with the cheapest.

Honestfrank01

Thanks for the advice would I be right saying budget over 2k in all for it???

Cuddlesworth

Honestfrank01 wrote: »

Thanks for the advice would I be right saying budget over 2k in all for it???

Depends on the house. Get a invoice before-hand listed the costs, the professional costs are the lawyers wages. I paid 1400 and like said above, everything was last minute and as much as i hated doing it, I had to hound them with phone-calls and turn up on the door step to get paperwork signed for the sale to actually go through.

GingerLily

Does it include the land registration fee? If it does then that quote seems reasonable.

1641

Set outlays are somewhere in the region of €800- €1000. These are just paid on by the solicitor on your behalf. If your quote in your first post is inclusive of these then I would say they are in the correct ballpark.

I would guess that the standard for solicitors fees to be broadly in the region of €1500 plus VAT. You will probably get cheaper. Just be careful of your choice.A poor one will likely cost you one way or the other - if only stress!

Cuddlesworth

GingerLily wrote: »

Does it include the land registration fee? If it does then that quote seems reasonable.

No. That's the cost of the solicitors time. I was quoted roughly 1.1k for fees(house over 400k), plus stamp duty.