You pay an initial £160 deposit to your solicitor to start your conveyancing on your first transaction. The first transaction falls under our No Sale No Fee Promise so if the first transaction falls through then you are not invoiced for any of the legal work undertaken on the first transaction.
You instruct again on your second transaction and the £160 is transferred to your second transaction. The second transaction falls through and you are charged for the legal work as a percentage of the amount completed of your fixed fee. For example, if your fixed fee was £629 and 30% of the work was completed on your second transaction, then you'd have to pay legal costs of £188 INC VAT less the £160 initial deposit leaving the balance to pay of £28 (subject to payment terms).
You instruct again on your third transaction and pay another initial deposit of £160 to your solicitor to start your conveyancing on your third transaction. The first transaction falls under our No Sale No Fee Promise so if the third transaction falls through then you are not invoiced for any of the legal work undertaken on the third transaction.
The process then follows on again from stage 2 above.
Frequently Asked Questions
Do you have to pay solicitor if house sale falls through?
Your solicitor will charge you if you transaction falls through unless you have legal fee protection like a No Sale No Fee. You should check with your solicitor or read your terms and conditions to see what happens if your sale or purchase falls through.
Does the No Sale No Fee cover 3rd party costs?
It only covers the solicitor's legal fees. If you incur the liability of property/conveyancing searches, mortgage valuations, building surveys or any other costs/disbursements, then you are still liable to pay for these as per the agreed terms of the contract with the supplier.
Are all No Sale No Fee Promises the same?
Depending on which solicitor you instruct you will find that the terms of the no sale no fee policy vary:
- Only covered if a third party pulls out. If you decide to withdraw from the transaction then legal fees are payable.
- Covered in full for the first transaction, however if the second property falls through then you have to pay for the second transaction.
- Covers all of the legal costs but you have to pay a "Buyer Protection Fee" that isn't refunded.
- No fees are payable if the transaction falls through but the solicitor charges a higher legal fee.
You should read the terms of your chosen solicitor to understand their individual No Sale No Fee Promise.
Be careful when doing this as some solicitors do not cover all of their legal fees and some won't allow you to pull out for any reason; if you choose to pull out then you may be liable to pay your solicitor's legal fees. Under our No Sale No Fee Promise, you can pull out for any reason on your first transaction and not incur any of the solicitor's legal fees.
Does the SAM Conveyancing No Sale No Fee Promise cover Gazumping?
Yes it does. Under our No Sale No Fee Promise, you can pull out for any reason on your first transaction and not incur any of the solicitor's legal fees - whether it is:
- A buying chain breaks down.
- Gazumping - Seller accepts a higher offer from another buyer (read more about Gazumping)
- Gazundering - Buyer lowers their offer from agreed price pre-exchange.
- Property undervalued – Mortgage lender values the property less than the offer price (read more about What to do if your property is undervalued)
How much does a solicitor charge if there is no cover?
Solicitors charge on an hourly basis for their time when delivering legal services which is the reason why you should always look to get a Fixed Fee Quote for your conveyancing. If you don't have legal fee protection then you will be charged for the work completed by your solicitor at the pre-agreed hourly rate.
Can you use the No Sale No Fee on two transactions at the same time?
The No Sale No Fee Policy is offered to protect buyers and sellers from if their transaction falls through. If a buyer wants to run two files concurrently and doesn't close down their first purchase, then this is not covered under our No Sale No Fee Policy and an additional £160 deposit is required for the second purchase.
Do you need a No Sale No Fee Quote?
We provide No Sale No Fee protection for all of our sale and purchase conveyancing quotes and you can read our policy details below. To get a Free quote call 0333 344 3234 or click on:
*Fixed Fee – No Sale No Fee – On all Mortgage Lender Panels
