When to instruct Solicitors?

nbewsey

Hi All,

Can anyone offer some advice on when to instruct conveyancing solicitors?

We have accepted an offer on our property and had an offer accepted on the property we were trying to buy too. The trouble is that our vendors have not found anywhere yet.

The vendors are looking for a property within quite a small area and the houses come up infrequently...

We are being pressed to appoint a solicitor but should we do so until we have sosmewhere to move to?

Thanks for any advice that anyone can offer

Neil

mandi

Hi

I wouldnt instruct a solicitor, until the chain is complete. By the sound of it is it your purchasers that a pushing for you to get one ?

Has it been sugested to the owners of the property your buying , that it might be a good idea if they consider moving into rented , this would keep everone happy, would meen you can all proceed, and if your sellers move to rented, it would mean that effectively they can place their eventual offer, with out a chain , and therefor negotiate a different price .

If they are looking in a small area, it could take months .The doesnt help you , or your buyers really.

RetroBob

Good point Mandi. As soon as you formally instruct them you may well be subject to a charge should the sale fall through or there's a big delay. Depends on the T&C of your solicitors, some wont charge, some will.

Think of it like this, you wouldn't instruct before you had your offer accepted, likewise you should probably wait until everyone else is ready. Use this time to get quotes.

I'm not in a chain - had offer accepted, mortgage approved in principle and today I am instructing solicitors.

chickmug

You MUST play the game to keep in with the various parties.

Instruct a solicitor NOW so you can tell the others to settle them down. BUT tell your solicitor to do nothing until you further instruct them. This is quite common and something solicitors are used to.

So everyone happy and no fees being incurred by you.

nbewsey

Thanks all for your help... It seems there is some split opinion on this.

For info, our vendors were willing to go in to rented accomodation but only if we were to offer another £3k on the purchase price which took it out of our affordability!

This is my first experience of being in a chain and I now see the benefit of a "chain free" property :rolleyes:

SmlSave

Morning Nbewsey

I work for a firm of solicitors and it is quite normal to be instructed and asked not to do anything but the bare minimum until the client is ready to proceed.

Just to let you know

nbewsey

Thanks SmlSave :T

PD1

SmlSave wrote: »

Morning Nbewsey

I work for a firm of solicitors and it is quite normal to be instructed and asked not to do anything but the bare minimum until the client is ready to proceed.

Just to let you know

Good answer - Further to that, ask them if it does proceed then collapse, what fees will you incur for proceeding up to that point.

Richard_Webster

Morning Nbewsey

I work for a firm of solicitors and it is quite normal to be instructed and asked not to do anything but the bare minimum until the client is ready to proceed.

Just to let you know

I agree. Trouble is that you get nervous FTBs who think that somehow things will go quicker if their solicitor gets papers etc on their purchase, even though the reality is that nothing much will really happen until the chain is complete. The FTBs seem to think that somehow magically it will make things happen quicker. They can threaten to pull out if their solicitors don't get any papers. So sometimes it is necessary for a seller's solicitor to send some papers out to keep them happy, even though it won't really make any diffirerence in the long run!. This is particularly likely to be the case in the present market where FTBs are in a stronger position.

OP's real problem is that he has found a house with people who are going to be difficult to suit. This is often the case. The one you fall in love with has the difficult sellers - the empty, no chain, one down the road is OK, but just isn't as nice as this one! OP may have to try to push his sellers into moving out and renting until they find.

mandi

SmlSave wrote: »

Morning Nbewsey

not to do anything but the bare minimum until the client is ready to proceed.

Just to let you know

mm but doesnt the " bare minimum usually incur costs ??

There is an incomplete chain, therefore no one can proceed . In the current climate , or even when the property market was at its best , if you cant proceed , why instruct a solicitor

The OP s sellers dont have anywhere to move to , they are looking at a " limited area " There is a good chance , unless they find somwhere soon ( or consider renting), that the chain will collapse. .As Richard posted . the FTBs have the upper hand , im afraid , but so could the OPs sellers if they move to rented ( I know I would )

No sale , no need for the bare " minimum " by a solicitor( unless its free of course )

chickmug

mandi wrote: »

mm but doesnt the " bare minimum usually incur costs ??

There is an incomplete chain, therefore no one can proceed . In the current climate , or even when the property market was at its best , if you cant proceed , why instruct a solicitor

The OP s sellers dont have anywhere to move to , they are looking at a " limited area " There is a good chance , unless they find somwhere soon ( or consider renting), that the chain will collapse. .As Richard posted . the FTBs have the upper hand , im afraid , but so could the OPs sellers if they move to rented ( I know I would )

No sale , no need for the bare " minimum " by a solicitor( unless its free of course )

My post at 9.02 yesterday is based on my experience (as an agent) and one which is common and I would always be happy to suggest to my clients. Yes make sure there will be NO chanrge from your solicitor and I have never known one try and make a charge for just receiving a letter