There are a number of obstacles faced by those who are looking to buy or sell a house and one of the biggest of these is the cost. House sales and purchases can be costly – particularly when it comes to the additional costs involved in the process, few of which can be avoided if the transaction is to go through smoothly. For many people, one of the most important costs can be that of the conveyancing solicitors. Although this kind of advisor is clearly essentially in ensuring that a house sale or purchase is properly processed, fees can mount up considerably – especially if there are any issues that arise – adding significantly to the basic cost of buying or selling the property. As a result of the cost concerns of those looking to buy or sell property, and in order to offer a more cost effective solution, the ‘no move no fee’ conveyancing solicitors have become extremely popular.
The way no move no fee conveyancing solicitors work is that a package of conveyancing services is made available to the potential client, who will pay a small amount as a deposit of sorts. The fee is usually payable per transaction so for each sale or purchase a client undertakes, the fee will be payable. This fee could be as low as £50. Once the transaction gets under way, the no move no fee conveyancing solicitors will go ahead as a ‘normal’ conveyancing solicitor would, processing searches, negotiating with the other side, drawing up documents etc. The only difference is that if the transaction does not go through, the seller or purchaser will not be charged any solicitors fees. Any ‘disbursements’ that have been run up in processing the matter – i.e. any expenses that the solicitors have incurred, such as paying for searches – will need to be settled by the client, but this should usually be the only money that is due if the transaction does not complete. The costly question of paying for the conveyancing solicitor’s time is put to one side as the no move no fee option means that these fees cannot now be charged.