My name is Rhys, a first time dad blogging about my adventures and experiences of being a parent. [email protected]

How Much Do Property Buying Companies Really Pay For Conveyance & Solicitors’ Fees

(Adobe stock image)

Selling your home to a property buying company can be a great way of getting it off your hands quickly. While the money you receive doesn’t quite match the house’s market value, the quick turnaround and other benefits usually make up for that.

One such benefit is the payment towards conveyance and solicitors’ fees. Whenever you sell a property, you have additional charges to worry about. With The Property Buying Company, though, you can save a lot on those extra costs, as you’ll see below.

A Variety Of Fees

Rather than being one lump sum, the conveyancing costs are formed of several smaller payments, which are all essential when selling a property. The bulk of the fees consists of legal fees, which obviously go towards paying a solicitor. However, there are additional payments for things like checking you actually own the house you’re selling, and that you’re not money laundering. Again, these can vary in price, but they’re usually less than £10 each.

The Whole Cost Covered

Something you’ll likely notice when searching for property buying companies to go with is that they’ll offer to cover conveyance and solicitor’s fees. This is often the mark of a genuine quick-sale company and is, therefore, an excellent way of identifying any potential scams.

Part of the reason property buying companies cover fees like these is that costs rarely ever too expensive. On average, you tend to find that the price range is between £500-£1,000, which won’t send an experienced company back very much at all. Getting to save that much money can be a real win for you, though, especially when selling a home for less than it’s worth.

Fee-Influencing Factors

There’s no one set price for these fees because what you’re charged depends on certain factors. Elements like where the house is located can play a significant role in this, particularly if the property is near to somewhere that can create a potential risk, e.g. a cliff or a river. Homes that could be in danger under the right circumstances will ultimately have higher costs tied to them, which is something to keep in mind.

A Risk Of Scamming

As mentioned before, some property buying scammers won’t offer to cover conveyance and solicitor’s fees, which can help you to identify if they’re genuine or not. However, this isn’t the only thing to be looking out for when choosing a company to go with.

There are quite a few telltale signs that indicate when you’re dealing with a scammer, and it’s worth being aware of them when selling your property. They may initially lie about covering these fees, only to screw you over as you get closer to making a sale.

When you sell your property for less than it’s worth, you want to ensure you get the best deal possible. Going with a company that covers things like conveyance and solicitors’ fees can help you get that, so you have fewer expenses to worry about.