Conveyancing Fee – No Purchase No Fee

http://www.yourconveyancingservices.com/ Address: 35 Stow Hill, Newport, NP20 1JE Contact No. - 0845 868 1782

Reason that many firms now offer ‘no purchase no fee’ conveyancing is that due to the recession

and current financial climate, buying chains fall through more regularly. Furthermore, there are

fewer properties on the market which has led to a higher rate of ‘gazumping’ as competition is so

high. ‘Gazumping’ is the process where after already agreeing a price with one buyer, the seller

agrees to sell the property to someone else for a higher price which often leaves the initial buyer

in a difficult situation. Elsewhere, there are frequently scenarios where the seller accepts multiple

offers from different buyers and it is the buyer who signs the contract and completes the

conveyancing process first who will succeed in their offer.

As more and more firms offer ‘no purchase no fee’ conveyancing, it seems to be a more popular

option for consumers and a more viable solution for both property solicitors and customers alike

in a fragile market that is operating in a tough economic climate.

It should also be noted that when looking for representation, prospective buyers must consider

the reputation of the conveyancing solicitors and make sure they are fully licensed with certain

quality standards like the CQS (Conveyancing Quality Scheme) or being a member of the

Conveyancing Association. Furthermore, the option of ‘no purchase no fee’ conveyancing

services are more commonly found online.