What happens to the solicitor fees if my buyer pulls out when I’m selling the house?
Unfortunately, you’re liable to pay…
That’s one of the things about selling a house. You’re obligated to pay your legal fees. Depending on what stage your sales process is through, the conveyance and sale will determine how much the solicitor will charge you. It applies to every seller and buyer.
It has also happened to us here Sell With Richard, as we have had buyers pull out of properties that we’re selling for landlords and sometimes at the very last minute. Grrr
This is a rather large cost.
You can expect to pay £4-500 if it’s near completion
If it’s early days, and the buyers haven’t raised any inquiries then you should not be paying anywhere near that, you might pay £100 to £200. You are liable for them, unfortunately.
However, in the majority of cases our sellers don’t have to pay for this as we cover all their legal fees.
Get your property resold as quickly as possible
In this disastrous situation the best thing to do is move forward quickly.
Find another buyer and start the legal process as soon as possible.
You could even ask that the new buyer places a token deposit down with your solicitor which they would be liable to lose if they pull out at no fault of your own. Many buyers will be reluctant to do this but there’s no harm in asking.
If you want to have a chat about it any time, please feel free to give us a call at 0191 486 2386.
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