Legal conveyancing question to all you solicitors or budding solicitors?
April 27th, 2010 by admin
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5 Responses to “Legal conveyancing question to all you solicitors or budding solicitors?”
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Buy My Home
We Buy homes Fast for Cash
That’s the contract they’re offering. You don’t have to accept it.
Are you a poker player? You could refuse to sign unless the builders agree to meet all your legal fees. Then see who blinks first.
If it wasn’t agreed that you should pay, then don’t pay…and don’t let them bully you either. Threaten to pull out and charge them for any costs incurred to date.
It depends on what you negotiated. Often times, the buyer does pay the closing costs (in the US). Here a real estate broker would draft the contract and unless you as the buyer have made your deal otherwise, the buyer pays the costs.
On the East side of ‘the pond`, such matters are
negotiable.
First read CAREFULLY, your copy of anything else
you may have signed in relation to the deal.
It is perfectly reasonable to argue that the sellers
legal fees should be his own responsibility.
If they insist, the solicitor is ethically bound to
you and not the seller. You insist on reviewing
the contract to ensure that is more favorable to
you. If it’s not you hint at unethical behavior.
No, this is certainly not common practice. The Seller bears the costs for drafting the contract of sale and the Buyer is responsible only for his/her solicitor’s fees. However, this doesn’t mean that the parties cannot agree something different.
When you say you “bought” the house, have you signed any agreement committing yourself to the payment of legal fees? If not, you don’t have a legal obligation to pay them, but that is no help to you as failing to pay might prevent the sale going through, as the Seller won’t have any obligation to sell either. If you think the fees are too high, you will be able to contest the bill – after payment. My advice – try and negotiate them to a reasonable amount, say £50 plus VAT. You only want to pay for the time costs, and not their Land Registry fees etc.
The Seller is obviously very confident he can sell his property and that there will be many Buyers willing to pay the costs. That said, it’s a bit of a cowboy tactic.