Conveyancing is the legal process of transferring ownership of property from one party to another.
During the process, you will need to make payments to parties other than your conveyancing solicitor. You would however first make the payment to your solicitor, who would then distribute the monies as necessary. Any payment you initially make to your solicitor, but which is then passed to another party, is known as a ‘disbursement’.
Examples of disbursements and fees include:
- Local authority search fees – to ensure the property is not affected by any planned local development, such as new roads; to ascertain whether the property has rights-of-way passing through it; and to discover whether the house is a listed building, or is in a conservation area
- Land Registry search fees – to make sure that the seller is legally entitled to sell the property
- Land Registry registration fees – for registering the change of ownership
- Bankruptcy search fees – making sure you have not been declared bankrupt
- Stamp duty – a tax payable by the purchaser on all properties valued at more than £125,000
- Environmental search fees – to ascertain whether there are any environmental issues that could affect the property
- Drainage search fees – to obtain detailed information about drainage connections to the property
- Mining search fees – to establish whether the property is likely to be affected by mineworkings in the area
At Courmacs Solicitors we promise to explain clearly to you at the start of the conveyancing process:
- What charges and fees you would need to pay to cover our own costs
- What charges and fees you would need to pay to us, which would then be paid to other parties as disbursements
Which charges and fees are payable at the start of the conveyancing process, and which ones become due when the property purchase complete