The main part of conveyancing quote is the basic fee, which covers the time that a conveyancer spends working on your property transaction. The basic fee can be formulated in one of three ways…

1) A pre-determined fixed-fee.

2) A fee that is linked to the final sale price of the property.

3) An hour by hour fee.

The first two of those pricing systems are preferable, as you will know in advance exactly how much you have to pay. If you are buying or selling an expensive property then a fixed pre-determined fee will work out best for you, as you will not be penalized as you would be with option two. Unfortunately, conveyancing firms offering the first pricing system are not so commonly found these days, so it may take you a while to find one. If the value of the property that you are buying or selling is relatively low, then there will be little difference whether you go with pricing system one or two.

In addition to the basic fee that you have to pay a conveyancer, you also have to cover the costs of the things that a conveyancer has to pay other people for on your behalf. These are called disbursements, and include costs such as licenses and taxes. Really, they should be roughly the same from one conveyancing quote to the next, however, sometimes conveyancing firms add a mark-up onto what should be a fixed cost. When assessing and comparing conveyancing quotes, you need to pay close attention to what is included in the standard fee and what is categorized as disbursements. Less reputable conveyancing firms will offer appealingly low basic fees, but will strip down what they will do for that basic fee. They will call some of the tasks and charges that should be covered within the basic fee disbursements, and you will be hit with hidden, unexpected costs when you get your bill. Therefore, always consider what is included within the basic fee, and do not make your final decision just based on who is advertising the lowest upfront price.

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