When searching for a conveyancer to deal with the sale or purchase of your home, you may come across some offering ‘no sale, no fee’ deals. Is this the best option for you? We look at the advantages and disadvantages of no sale, no fee conveyancers to help you decide.

What does no sale no fee really mean?

In no sale no fee conveyancing, you are only charged for a solicitor’s services once the transaction is complete. Usually, you will pay an initial deposit to secure the no sale no fee deal but will then not pay any more to your solicitor until the sale is completed. This can be particularly beneficial in cases where a house sale falls through, whether this is through gazumping, gazundering, a break in the chain, poor surveys or because someone simply changes their mind. However, you may still have to pay for searches carried out by third parties such as Land Registry.

What are the advantages of no sale no fee deals?

The main benefit is that you only pay for the solicitor’s services when the sale is successfully completed. This can be particularly beneficial if your sale has fallen through because of gazumping or some other factor beyond your own control. Many may find it an attractive option in times when the housing market is slow or if they are selling the property themselves.

Instructing a conveyancer in a no sale no fee deal will usually mean paying a deposit. According to the HomeOwners Alliance failed attempts to buy and sell property sees more than £500 million a year go to waste. A small fee upfront could save you as much as £1,500 further down the line.

In some cases, some conveyancing firms, such as Sam Conveyancing, will move your deposit to another property transaction if the first falls through. However, it is important to check if this is an option with your conveyancer first. Some may let you carry out searches on a different property for free, but this is a goodwill gesture for staying with them and is by no means offered by all no sale no fee conveyancers. You must check the fine print first to see whether this is included and whether new property purchases must be within a certain time frame.

No win no fee conveyancers may also be an attractive option for those who are undecided on whether they want to progress with a purchase but need to show they have appointed a conveyancer.

What are the disadvantages of no sale no fee deals?

While the conveyancer is not paid in full until the transaction is complete, you still have to pay for searches and other disbursements. They are usually non-refundable, and so you will be out of pocket on these if the sale does fall through. In most cases, you have to pay an initial deposit which is also non-refundable.

No sale no fee offers are not universally available. They cannot be used in certain transactions such as a property being sold at auction or subject to a chain.

Another downfall of a no sale no fee deal is that you may end up paying more overall. Some firms may charge a success fee in addition to their standard fees, while some may require a monthly retainer whether or not the sale progresses. You may also incur some hidden costs, such as administration fees. Always be sure to check out the fine print and be fully aware of all implications before signing up to a no sale no fee offer.

The large town of Slough is situated in the county of Buckinghamshire, approximately twenty miles west of London.  A great commuter town for the (approximate) 164,000 residents, many of whom work in the busy City but want the beauty of a more rural community. This thriving, multicultural town attracts potential residents and workers from all over the country and has the highest concentration of company headquarters that have set up base in its trading estates, outside London itself. The power station there has been steadily supplying power to the massive trading estate it is based on since 1920.

There is also a huge retail outlet for the residents to enjoy alongside several splendid primary and secondary schools for the children to attend. The hard-working students who attend the schools are amongst the top ten best academic achievers in the country.

The residential areas are growing quickly, in order to house all the families that want to set up home in this thriving community. The army of builders are working hard to clear any derelict buildings in order to erect new homes, doctors’ surgeries, dentists, veterinary practices and hospitals. The team operating the diggers are very careful not to damage any electrical cables, phone lines, gas pipes or sewers.  If they find any pipes that are cracked they may well decide that a Drain Lining Slough  company could repair them and contact a professional company such as http://www.drainpower.co.uk/drainage-services/drain-lining/drain-lining-slough/ to sort out the problems.

Glasgow is renowned as being a tough place. Its hard streets belie a city of cultural status. It has the largest population in Scotland and is the fourth largest in the UK. It is a proud city full of prouder people, and rightly so, due to its heritage as a great ship building area. Whilst this has fallen away with time, the city has maintained its populus and is now know for its financial sectors. It also has a prosperous tech industry with companies like Web Design Glasgow based organisation https://www.design-hero.com/web-design/local-web-agency/glasgow/ for example.

To show how proud the city is it comes together, or more correctly divides, for four very important games in the year. They are usually the defining games of the Scottish premier league. It’s the match between Glasgow Rangers and Glasgow Celtic. To say that it is played with passion is a very big understatement.

It is reckoned to be one of the oldest derby matches (where 2 teams from the same city or town play against each other) in the world. So far, it is Rangers that have won the most matches with 168 to Celtics 161. 101 of them have resulted in a draw. The game is played under the shadow of sectarianism. The Protestants favour Rangers and the Catholics support Celtic. This has led to many unfortunate clashes off the field as well as on it.

With the financial climate as difficult as it is at the moment, the rate of inflation rising alongside food and petrol prices soaring, lots of older couples are making the decision to downsize from a big family home to a smaller bungalow.  When you have a large property and your children have grown up and moved away to a different county, possibly Wiltshire, you could also make the momentous decision to sell your old family home and move to a smaller, newer home, possibly a bungalow to live closer to your children in Swindon, Wiltshire.

With floors all on one level, a smaller more manageable garden, less maintenance on the property itself and somewhere safe to park your car with secure Garage Doors Swindon by a company such as http://www.upandoverdoorsltd.co.uk/garage-doors/garage-doors-swindon/  a bungalow could be the ideal new forever home.  Once you have found a suitable property to move to, the process of selling your current home can begin, a quick declutter, fresh coat of paint and tidy up of your unruly garden and you are set to get the Estate Agents around for a valuation.

Hopefully your newly refreshed house will sell quickly, and you can put in an offer on the chosen new bungalow. Packing up your precious possessions and arranging the movers is next on the list of things to do. Once all the surveys and checks have taken place you can sign the final contracts and enjoy the big day when you take possession of the keys of your bungalow.

You have probably congratulated yourself on getting through the initial stages of a mortgage application. Completing the agreement in principle, where the lender will give you an indication of the amount they can lend. The next stage is to complete a Needs and Circumstances conversation where you will give over all of your financial income and outgoings, the monthly budget you have available to pay the mortgage down and what type of mortgage you want.

There then follows the process of conveyancing. This stage can seem to be you paying a lot of money for very little. It’s why you need to have a Conveyancing Cheltenham based company like Montpelier Legal on hand to help you get through it. They will be able to advise and guide you through the legal side of the purchase and keep you informed on all the stages.

Basically, the Conveyancers will make sure that there are no legal bars from covenants, rights of way, potential compulsory purchases and if there are any issues from the survey that need to be dealt with. A good rule of thumb with a house purchase is that if you don’t hear from the Conveyancers, everything is going as it should be!

Finally, the conveyancers will be the ones that will take the money from the lender and then immediately pass it onto the builder or seller. Once this is confirmed you can receive the keys to the home from the seller, an official act of making it your own home.