Online Conveyancing with ConveyOnline     Online Conveyancing by Woodhouse & Company Solicitors

 

Frequently Asked Questions


    1.  How much does it all cost ?
    2.  How long does it take ?
    3.  Why is there such a difference in fees ?
    4.  Can you do conveyancing anywhere ?
    5.  Why is it better to do this online ?
    6.  I live abroad and want to buy property in the UK ?

    7.  What is 'Exchange of contracts' ?
    8.  What is 'Completion' ?
    9.  What if my sale falls through ?
   10. What guarantees do I have ?
    11. What is stamp duty ?
  


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How much does it all cost ?

 

The costs involved when you buy or sell a house can vary greatly.  Firstly, it depends if you are just selling, in which case the total can be as low as £350, or whether you are just buying, in which case searches and stamp duty come into play.   If you are buying and selling, as most people do, your costs increase.  Because this is a complex issue, and everybody wants to know before they instruct a solicitor we have created our Free on-line estimate service to work out all the costs for you.

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How long does it take ?

 

The average sale and purchase takes around 6 weeks from start to finish, although if everything goes to plan this can be a lot less.  The time it takes depends on numerous factors.   Firstly, is there a chain involved?  If so things get delayed when any member of the chain has a hold up.  Your mortgage arrangements, or those of your buyer, can also delay the process.   From our end the delays are involved in requesting the local authority searches, this is something we have been able to speed up by accepting instruction from clients on-line.

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Why is there such a difference in fees ?

 

Solicitors invariably all charge different fees.  This is for a number of reasons.  Firstly, the overheads incurred by that office.  A firm with plush offices in central London are forced to charge more than a firm with lower overheads.  Secondly, volume of work.  A company that isn't getting a steady flow of work will be forced to charge more than a firm that has a high turnover of cases.  We are fortunate in the fact that we deal with a large number of conveyancing cases, nation-wide, so we can keep our costs down.  When comparing solicitors fees, bear in mind that most solicitors quote their fees excluding disbursements.  That means that they are just telling you what their fee is, all the additional costs are added on top of that.

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Can you do conveyancing anywhere ?

 

We are able to carry out conveyancing on your behalf for property anywhere in England and Wales.  We are able to liaise with our clients via email, telephone or post.  A visit to our offices is not necessary.

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Why is it better to do this online ?

 

We live in a world that is becoming more customer focused, businesses are at last realising that the customer should be able to use their services when the customer wants to, from where the customer wants to.  We offer a free on-line instant quote, 24hrs a day 365 days a year. You can instruct us on-line, from your home or office, far more convenient than visiting a solicitor or sending him letters.   You can get progress reports simply by logging in to the site at any time.  By embracing the latest technology, we are able to speed up the conveyancing process, something that we believe all our clients appreciate.  Finally, we offer a premium service at an excellent price, giving you an opportunity to save money, something most people appreciate especially when you're moving house.

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I live abroad and want to buy property in the UK ?

 

If you want to buy property in the UK we will guide you every step of the way.  We can deal with everything for you.   Simply drop us a line or give us a call for our full assistance.

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What is 'Exchange of contracts' ?

 

Exchange of contracts is the date when a binding agreement is made between solicitors on behalf of the buyer and seller.  The buyer usually pays a deposit to the seller.  They are now both legally bound to proceed with the deal. If either party now pulls out, the other can keep the deposit and sue for damages.  This is a very rare occurrence once contracts have been exchanged.

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What is 'Completion' ?

 

Completion is the date when the balance of the money is paid to the vendor and the house becomes the legal property of the buyer.  This is usually the date you move in and the whole process is over.

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What if my sale falls through ?

 

An annoying fact of life is that not every sale makes it through to completion.  Sometimes your buyer pulls out, or the chain collapses, for any number of reasons.  Usually by that stage, we have already done a large amount of the work towards the sale (or purchase) on your behalf. If our instructions where then cancelled, the work we have done and the expenses we have incurred become chargeable.  However for most people, this is just a temporary hitch, and another buyer, or property is soon found.  In which case, the work we have done is all ready to be completed.

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What guarantees do I have ?

 

As a firm of solicitors with over 21 years solid history we would never anticipate running into any problems, or having disputes with clients. However, we are covered by professional indemnity insurance and all our activities are regulated by the Law Society.

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What is stamp duty ?

 

Stamp duty is a property buyers tax charged by the government.  There is no stamp duty on properties under £125,000.   Properties between £125,000 - £250,000 are charged 1% of the purchase price.  Between £250,000 - £500,000 the rate is 3%. Between £500,000 - £1,000,000 the rate is 4%.  Between 1,000,000 and £2,000,000 the rate is 5% and above £2,000,000 stamp duty is charged at 7%

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