During your hunt for the perfect conveyancing solicitor, you are likely to encounter no sale, no fee options. This may sound particularly appealing to many in the home move process; however, it is vital to dispel any misinformation surrounding no sale no fee.
What exactly does No sale, no fee conveyancing mean exactly?
A no sale no fee conveyancing guarantee also referred to as no competition, is a sales agreement that a number of conveyancing solicitors propose. Put simply, if your sale or purchase of your property fails, you are not obliged to pay any conveyancing fees.
With approximately 1 in 3 home purchases falling through before completion, having a conveyancing agreement that encompasses a no sales no fee guarantee is a must.
Who offers the best performance of no sale no fee conveyancing?
No sale no fee is the type of guarantee that traditional solicitors stray away from. In modern times, it has become increasingly common to instruct a solicitor using this form of guarantee. However, that is not to say that all solicitors offer this. It is worth asking if this is an option, particularly if you are on a low budget.
Why might a sale fall through?
Over a third of property transaction’s fall through without reaching the stage of completion.
There are a number of reasons as to why a sale might not mature to the stage of completion. These include:
Example of how a no sale no fee guarantee will protect you:
Frequently Asked Questions
Does no sale no fee conveyancing cover 3rd party expenses?
No. No sale no fee conveyancing only covers the solicitor’s legal fees.
Is all No sale No fee guarantees the same?
No. Different no sale no fee conveyancing solicitors may impute or exclude specific parts of their policy. To find the best performance of no sale no fees conveyancing you must always read the terms and conditions of your chosen solicitor and clearly understand their individual No sale No fee pledge.
Avoiding delays is fundamental
Steering clear of anything that causes a threat to the success of a transaction is vital. To find the best performance of no sale no fees conveyancing, the best thing to do is choose a solicitor that places great emphasis on communication and proactiveness.