Solicitor just informed me he's acting for the other party???

keith969

jonny2510 wrote: »

I'm selling a house, and the solicitor has just informed me he's going to act for the vendor as well, unless I object to it.

Is it 'he' in person, or is it the company? I am using the same company as my buyer, there's no conflict of interest as two different people are dealing with each. If it was the same person then yes, it would be a concern.

jonny2510

keith969 wrote: »

Is it 'he' in person, or is it the company? I am using the same company as my buyer, there's no conflict of interest as two different people are dealing with each. If it was the same person then yes, it would be a concern.

"He" didn't say, though there is another office in a nearby town. I suppose I'll have to confirm.

Can anyone provide me with a worst case if we do go ahead?

cuthbert_the_octopus

Dont do it!!!

When selling, we and the buyer used the same firm of solicitors (there was just 2 of them!) and it all went wrong. They did it totally 100% by the book and found a problem with the leasehold, that hadnt been a problem in the last 50 years!

We answered the Qs and the buyer was happy, but not his solicitor.

It ended up resulting in Abbey refusing to lend the money to the buyer.

We wanted to sell, the buyer wanted to buy, but the bank said no.

We gave up, and sold the flat to someone else. Went through with no problems, with us giving the same answers to the Qs being asked!
Several flats have also been sold since with no problems!

jonny2510

hmm!

Thanks for the replies everyone. From further research is seems to be a roughly equal split of people saying "yes it was fine/great/quick" to others saying "avoid like the plague"!

I think I'm gonna have to sleep on it, and "toss a coin in the morning".

It was the EA who recommended us the solicitor. I wonder if they recommended the buyer to the same solicitor??? (for some sort of commission bonus).

I may speak to the EA tomorrow to see what they advise, which I'd hope to be sound, as it's in their interest to sell our house, so they can get their commission.

Bob_the_Saver

Dont do it!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Would you trust a solicitor?

Ian_W

jonny2510 wrote: »

It was the EA who recommended us the solicitor. I wonder if they recommended the buyer to the same solicitor??? (for some sort of commission bonus). Yes, they may well get a referral fee from the solicitor or it may be a "you scratch my back" type arrangement or, perish the thought, they may just think they're good and prompt at what they do.
I may speak to the EA tomorrow to see what they advise, which I'd hope to be sound, as it's in their interest to sell our house, so they can get their commission. Erm, if they are getting a "kick-back" what do you think their reply will be? I really don't see how using one solicitor (or 2) makes your sale more risky for the EA.

I certainly wouldn't entertain it is a purchaser but as a seller it's probably less risky but could be more costly.

Example, we recently sold late MILs house and buyers solicitor asked us to obtain indemnity insurance for her not getting developers consent (she had PP and B Regs) when her porch was built 30+yrs ago. Because of time lapse our solicitor told him to take a hike and if his clients wanted an indemnity they should get it, it was dropped by them.

How would that or something similar play out with one solicitor? My bet is we'd have ended up paying a few hundred quid for an indemnity that really wasn't needed - but covered solicitors back with purchasers.

Your choice but my opinion is avoid - your solicitor is there to advise YOU, it's what you're paying for.

poppysarah

Object.

The seller gets your money and you get their house. Who do you think has got most long term risk?

Welshwoofs

jonny2510 wrote: »

I keep seeing "conflict of interest", but in reality, how would this actually effect me?

Well I can give one good example. I was buying house. I exchanged contracts. The seller pulled out AFTER exchange of contracts and we're now having to take legal action.

Imagine if it was the same solicitor acting for both parties...

clutton_2

he would have to talk to himself all day long !!!!!



sorry, but i think you might see the funny side ? WW !!!

Tassotti

IT'S ILLEGAL

Jesus...who are the people on here?

There is no way this should have come up unless you are dealing with idiots...

Jeez....