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Solicitor question
titewad_2
Posts: 564 Forumite
When buying a house would it speed up the exchange of contracts if both parties were to use the same solicitor? or this not ethically correct or conflict of interests?
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Comments
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The same solicitor can act for both, subject to a stringent set of rules as to whether this is appropriate.
I suppose it might be quicker but it is not something I would want to do. If a conflict arises (as it is likely to do, say for example you have told the seller your mortgage is in place but it is not. The solicitor then has information relevant to the other client which he can't impart) you could end up having to find another solicitor mid-transaction which will hold things up even more.
Using the same solicitor in a small village area where there are not many solicitors might be advisable but if you have a choice, I would recommend using someone different.0 -
appreciate the speedy reply and advice Bossyboots0
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I might be wrong but I had thought the same firm could only represent both parties if they had different solicitors within the company as otherwise it could definately lead to conflict of interest and would leave the solicitor open to allegations of this.0
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mistythyme wrote:I might be wrong but I had thought the same firm could only represent both parties if they had different solicitors within the company as otherwise it could definately lead to conflict of interest and would leave the solicitor open to allegations of this.
correct!! its not allowedYou're not drunk if you can lie on the floor without holding on0 -
Most solicitors will only act for a buyer & seller if both are existing clients & there are seperate solicitors within the practice.0
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it can be done yeah, but rarely is bacause of the law societys requirements in dealing with such a transaction...0
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Jorgan is right. if they are both existing clients then its fine. Just happended with the sale of my nanas house and it was definately quicker. :AI love this site :beer:0
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