Vendor has chosen same firm of solicitors as us?

1echidna

Firm say that different conveyancers can act for both parties and that they can take care to prevent conflict of interest. However both parties must be aware and not object. I am not sure what our position would be regarding monies paid if we objected or that it is something we should be unduly concerned about?

westv

We had the same firm of solicitors as our buyers. Went through with no problems.

pawpurrs

Not a problem, infact it can make things easier, regarding communication between the two ofhem. You just have to use different people within the same firm.
They still have to abide by normal rules of conduct.

chickmug

1echidna wrote: »

They say that different conveyancers can act for both parties and that they can take care to prevent conflict of interest. However both parties must be aware and not object. I am not sure what our position would be regarding monies paid if we objected or that it is something we should be unduly concerned about?

It was always explained to us that the same firm can be used but if: -

A different solicitor handled each for buyer and seller but even then only if each of the two parties had previously used that firm.

In reality we used to find it common for the solicitors not to want to handle it for both sides regardless of the rules.

On the face of it using the same firm seems to make sense but I never found any benefit as the two solicitors in the same firm may of been in adjacent offices but it often did not seem to speed up the communcations. Due to covering their backs, and more so than usual, they would still write to each other.

I often found situations where it was essential to have two different firms which would still be my preference.

1echidna

Thanks all for your replies. Think that I will let it ride. Survey report for property we propose to purchase due next week, hope no problems. EA has informed us that there is now a six member chain in place, not ideal but he is upbeat.

westv

1echidna wrote: »

EA has informed us that there is now a six member chain in place, not ideal but he is upbeat.

I can't imagine EA's are ever downbeat when they have a SSTC!

1echidna

westv wrote: »

I can't imagine EA's are ever downbeat when they have a SSTC!

Yes indeed but this one has a good record, sold at within 5% of asking price (despite my feeling that asking price might be on the high side) and successfully got surveyor to revise low valuation 10k upwards. For the moment, at least, I have given up being sceptical about what he says and he does seem to have investigated the chain as it now stands. The same group of agents are handling properties at both ends of the chain (ours is the top) so he is well placed to keep an eye on for us. No doubt though that there are many things which could throw a spanner in the works.

theartfullodger

westv wrote: »

We had the same firm of solicitors as our buyers. Went through with no problems.

Errr... so you think....

I'd always advise for two different law firms, just-in-case... call me cynical but I fear some law firms might be tempted by two sets of fees ... Clearly I'd be wrong of course...

Cheers!

Lodger

1echidna

theartfullodger wrote: »

Errr... so you think....

I'd always advise for two different law firms, just-in-case... call me cynical but I fear some law firms might be tempted by two sets of fees ... Clearly I'd be wrong of course...

Cheers!

Lodger

Not sure what two sets of fees tempts them to do. My concern is that we do not wish to lose money already paid by changing now.