Accountant fees

[Bugbait]

Just to compare, I've been getting various quotes due to buying a property and have got the following from other professionals.

1. Medium survey - £665 for a couple of hours look around the house and an hour or so to dictate the report.

2. Plans drawn for a two storey extension - £775 for an hour to measure the property and a couple of hours to draw the plans.

3. Legal fees of £600 to buy the house, excluding the disbursements etc., for presumably 2-3 hours checking the contract and filling in a few forms.

I'd compare a once a year accounts and tax preparation job to these kind of figures, so £400 appears too cheap to me for a qualified professional to do it.

Is that in London because it sounds cheap? We purchased a house earlier this year and we called several surveyors for a full structural and they all came in around £950-1200+VAT. We got a nice 30 page bound booklet at the end but still…

The Bank’s (compulsory) surveyor? A mere £890 to do a drive by. I can only assume they didn’t go in since the report was 2 pages with text that could be condensed into 2 paragraphs. They made a completely incorrect assessment of the chimneys too. Report, if you can call it that said there was a danger since the chimney supports had been removed. Err no, they have actually been reinforced with brick and then rendered you giant muppet!

The previous owners left us their box of goodies (extension plans and expenses). Their architect was £60 for a senior, £50 for experienced, and £40 for junior per hour. Total spent for modernisation and side extension to a 3BR mid-terrace: £20k. That’s just on the architect!

Legal fees? Fixed at £1000 + cost of searches + disbursements + taxes + VAT.

Plumber? £60-80/hour + VAT. Electrician? About the same.

Am I worth what I charge? Debatable but it’s what the market is willing to pay. All I do is mash some buttons, browse silly forums and make stupid posts. I would question the ability of any skilled professional if they were charging well below market value. Good people don’t need to discount their services.

[northernladuk]

Is that in London because it sounds cheap? We purchased a house earlier this year and we called several surveyors for a full structural and they all came in around £950-1200+VAT. We got a nice 30 page bound booklet at the end but still…

The Bank’s (compulsory) surveyor? A mere £890 to do a drive by. I can only assume they didn’t go in since the report was 2 pages with text that could be condensed into 2 paragraphs. They made a completely incorrect assessment of the chimneys too. Report, if you can call it that said there was a danger since the chimney supports had been removed. Err no, they have actually been reinforced with brick and then rendered you giant muppet!

The previous owners left us their box of goodies (extension plans and expenses). Their architect was £60 for a senior, £50 for experienced, and £40 for junior per hour. Total spent for modernisation and side extension to a 3BR mid-terrace: £20k. That’s just on the architect!

Legal fees? Fixed at £1000 + cost of searches + disbursements + taxes + VAT.

Plumber? £60-80/hour + VAT. Electrician? About the same.

Am I worth what I charge? Debatable but it’s what the market is willing to pay. All I do is mash some buttons, browse silly forums and make stupid posts. I would question the ability of any skilled professional if they were charging well below market value. Good people don’t need to discount their services.

Why are you pulling apart building costs that were made as an example? It is hardly adding to the original thread. We can't agree whether the accountants fees are fair without getting in to a big discussion about buildings. LOL

[Pondlife]

hmmm. Just thinking about what I charge my client vs value adding work done.





Hence I have no problem paying an accountant to do a proper job.

Most posters will earn more than their acct costs per month posting crap on here in a week (a day in some cases).

JFDI IMVHO

[Bugbait]

Why are you pulling apart building costs that were made as an example? It is hardly adding to the original thread. We can't agree whether the accountants fees are fair without getting in to a big discussion about buildings. LOL

I was adding to the example by illustrating that they are actually cheap for London. Well Architects, Lawyers and even qualified tradesmen are equivalent examples to Accountants are they not? All offer a skilled service with “questionable” value?

[SueEllen]

Is that in London because it sounds cheap? We purchased a house earlier this year and we called several surveyors for a full structural and they all came in around £950-1200+VAT. We got a nice 30 page bound booklet at the end but still…

The Bank’s (compulsory) surveyor? A mere £890 to do a drive by. I can only assume they didn’t go in since the report was 2 pages with text that could be condensed into 2 paragraphs. They made a completely incorrect assessment of the chimneys too. Report, if you can call it that said there was a danger since the chimney supports had been removed. Err no, they have actually been reinforced with brick and then rendered you giant muppet!

If you know anything about house buying you would know there are 3 different kinds of "surveys" you can have so the surveyor wasn't a muppet he was doing what he had been paid for.

The first isn't actually a survey it's a valuation but called a "Valuation survey".

The previous owners left us their box of goodies (extension plans and expenses). Their architect was £60 for a senior, £50 for experienced, and £40 for junior per hour. Total spent for modernisation and side extension to a 3BR mid-terrace: £20k. That’s just on the architect!

Legal fees? Fixed at £1000 + cost of searches + disbursements + taxes + VAT.

Plumber? £60-80/hour + VAT. Electrician? About the same.

Am I worth what I charge? Debatable but it’s what the market is willing to pay. All I do is mash some buttons, browse silly forums and make stupid posts. I would question the ability of any skilled professional if they were charging well below market value. Good people don’t need to discount their services.

What people forget on both sides is what the customer is paying for is the expertise when things aren't standard or going smoothly.

Unfortunately this is where service at all levels and all sectors in the UK tends to falls down.

After all we all complain about Bobs on here.

[Bugbait]

If you know anything about house buying you would know there are 3 different kinds of "surveys" you can have so the surveyor wasn't a muppet he was doing what he had been paid for.

The first isn't actually a survey it's a valuation but called a "Valuation survey".

Yes, simple valuation, home buyers (non-structural) and full structural. Do I get a cookie?

Yes, the Bank surveyor was a muppet. If he had simply commented on value then fine but he made clearly incorrect observations which suggests that he entered the property. The comments made it appear like a home buyers survey when in fact is was probably just a valuation. Although the negative and incorrect “observations” didn’t impact the mortgage in any way I still question why they were recorded in the first place.

[Bugbait]

Most posters will earn more than their acct costs per month posting crap on here in a week (a day in some cases).

I’d call you out for a fight to settle this but I have to update my Facebook page now .

[SueEllen]

Yes, simple valuation, home buyers (non-structural) and full structural. Do I get a cookie?

Yes, the Bank surveyor was a muppet. If he had simply commented on value then fine but he made clearly incorrect observations which suggests that he entered the property. The comments made it appear like a home buyers survey when in fact is was probably just a valuation. Although the negative and incorrect “observations” didn’t impact the mortgage in any way I still question why they were recorded in the first place.

Since you know all that you would know that there is actually no legal format to either a Valuation or a Homebuyers report.

Which means the surveyor can write as much or as little as they like.

Though in the Homebuyers if they make up things like that, because they entered the property, they would be relying on their professional indemnity insurance to payout.