Conveyancing solicitor.

Toyotafanboi

Hi,

First time buyer here, paid the estate agent a securing deposit on Friday just gone, so need a solicitor ASAP now to keep the momentum up. Managed to visit a few solicitors on Friday, wildly varying prices. Cheapest was €1300, most expensive €2500 and plenty in between, all claiming to do what sounds to be the same thing.

What are the pitfalls of a cheaper solicitor? I'd always be of the opinion that the cheapest of anything is cheapest for a reason but is that so with conveyancing? I dont mind getting a more expensive one but dont want to be fleeced either.

It's a second hand house, an estate sale. I know it's like asking how long is a piece of string but has anyone any advice on how to chose or what questions to ask?

Thanks.

Vetch

My solicitor was cheaper than your cheapest quotation and she was great. I'd be asking people I know for recommendations rather than asking any other question. Are you expecting any complications?

December2012

Whats your purchase price? Some charge on a basis of that

Toyotafanboi

We are not really expecting any complications from the sellers, they seem as keen to sell as we are to buy, only possibe issue is if something crops up in the survey that we weren't aware of.

All the solicitors we priced are local. The one I wanted based on recommendations was the dearest so I'll probably leave them be. A lot did open their pitch with "we usually work off 1% of the purchase price, but..." and gave a good drop from that immediately.

Anyway, I just kind of wanted a yard stick for pricing. Might go with the cheapest and see how we fare out? The price difference could be a fridge freezer or a TV etc. Our budget doesn't hinge on it but it is an expensive process so don't want to waste money.

Samuel T. Cogley

The cheapest will usually be inundated with work and therefore not likely to keep the momentum up. They are also less likely to be of any help if the sale is not straight forward and won't chase the vendors solicitor. You don't need to go for the most expensive to avoid this, just not the cheapest of the cheap.

Toyotafanboi

That was my rational for thinking to avoid the cheapest. Had a look at his business card and it seems he specialises in this type of work so maybe he does a competitive rate to get the job as it's his preferred area to work in.

We've made a decision now anyway but the comments here certainly helped.

The only other thing on my mind, which isn't solicitor related is the valuation and getting a survey done.

I understand the valuation is for the bank but we fund the cost of this and it is really just to verify that we aren't paying grossly over the odds for the property at hand, is that correct?

We also need to get an engineer to do a survey on the house for our own benefit but we aren't obliged to do this by the bank, is that right? If the engineer finds anything serious we then may need to negotiate any findings with the vendor?

Samuel T. Cogley

Toyotafanboi wrote: »

That was my rational for thinking to avoid the cheapest. Had a look at his business card and it seems he specialises in this type of work so maybe he does a competitive rate to get the job as it's his preferred area to work in.

We've made a decision now anyway but the comments here certainly helped.

The only other thing on my mind, which isn't solicitor related is the valuation and getting a survey done.

I understand the valuation is for the bank but we fund the cost of this and it is really just to verify that we aren't paying grossly over the odds for the property at hand, is that correct?

We also need to get an engineer to do a survey on the house for our own benefit but we aren't obliged to do this by the bank, is that right? If the engineer finds anything serious we then may need to negotiate any findings with the vendor?

Exactly right apart from you'd be mad not to get a proper survey done. Make sure you get a recommendation.

BTW another piece of advice - KEEP LOOKING - issues can crop up, vendors can withdraw and a whole host of other things can scupper a sale.

Toyotafanboi

Cool, first time out so I'd rather get my novice questions out of the way here. Completely agree regarding the engineers report, will definitely be getting one done. What's a good ballpark for one of those? Gotten one quote so far of €550, a fairly modest 3 bed house.

Yeah it's hard to imagine yourself continuing to look after you've paid a booking deposit as it all feels very serious now but I'm a long time lurker here and the house isn't yours until the keys are in your hand :pac:.

MAJJ

You mentioned it's an estate sale, check that probate has been completed. This delayed us majorly before.

Toyotafanboi

Might as well cram all my questions into one place.

Both the banks valuer and the engineer are to visit the house this week.

Does the engineer usually give you the report as soon as he's finished or will we be waiting a week or two for it?

What is the exact purpose of the valuer? Is it just to verify that we havn't paid far too much over the odds or is there likely to be a splitting of hairs over value?

Samuel T. Cogley

A few days for the report in my limited experience.

Valuer is unlikely to be an issue unless there is something glaring such as a half falling down garage or you've offered 500K for a 2 bed in Darndale.

Thestones

Toyotafanboi wrote: »

Might as well cram all my questions into one place.

Both the banks valuer and the engineer are to visit the house this week.

Does the engineer usually give you the report as soon as he's finished or will we be waiting a week or two for it?

What is the exact purpose of the valuer? Is it just to verify that we havn't paid far too much over the odds or is there likely to be a splitting of hairs over value?

The valuer is just to ensure the house is worth what the mortgage will be, they won't be splitting hairs, don't worry.

Survey report usually within a few days.