Why do I need a solicitor?
Technically you can do your own conveyancing in Scotland, though not a lot of people know that! However, the process is very complex if you haven’t done it before, so it’s best to engage the services of a solicitor!
We’d also recommend that you find a solicitor who is experienced in negotiating property purchases because they can guide you through the process and hopefully secure you a better price than if you negotiated directly with the property seller or the seller’s estate agent.
So, what am I getting a quote for?
There are a variety of costs associated with buying a property in Scotland. There are of course solicitor fees, plus VAT, for the work that they do for you in the purchase.
There are also a number of governmental charges that are associated with a property purchase and these can come to a few hundred pounds. Some of these fees depend on whether you are buying the property with a mortgage. Your purchase might also be subject to Land & Buildings Transaction Tax (LBTT), which is a tax paid to the government on property purchases.
Some purchases are exempt from LBTT whilst others can be subject to as much as 7% of the purchase price.
Will I get a better service from a more expensive solicitor?
Our opinion is, ‘not necessarily!’ Obviously, the lower the fee, the less likely it is that a company will be able to provide a high level of regular human contact if they also want to make a profit.
However, higher fees don’t necessarily translate into a higher level of service, particularly in the legal profession where, frankly, expertise seems always to have been prioritised over customer service.
We’d suggest that you shop around for a solicitor who you feel comfortable with, who charges a reasonable fee, and who gives you a level of assurance about the level of contact that you feel comfortable with.
How much should I be paying and does it matter how expensive the house I want to buy is?
Solicitor fees vary widely so it’s very difficult to give a figure here. Unless the legal fees are well above-average, they can often pale into insignificance compared to the LBTT and other fees that have to be paid to other government bodies.
The value of the property can affect some of the governmental charges and most certainly has an effect on how much LBTT you end up paying.
Why am I being supplied with a quote? Is the price I pay likely to vary much from the quote?
The quote will usually be for a ‘standard’ conveyancing transaction. Sometimes issues can crop-up during the purchase that are non-standard: for example, the solicitor having to raise a legal action on your behalf against the property seller if they don’t actually hand-over the property on the date that was agreed in the contract.
In those cases, the fee might vary from the quote. However, in our opinion the solicitor shouldn’t charge you anything extra unless you have first agreed to it.
Can MOV8 Real Estate act as my Solicitor?
Yes, and we’d love to! Our MOV8 Conveyancing team are experts in property purchases. And because MOV8 Real Estate handles hundreds of property sales per year, we are expert in property sales, what properties are worth and also in negotiating sales and purchases. So please do drop us a line today for a quote or some advice!