Retained fees after sale

megatron33

hi all, wondering if anyone could spare me a minute for a little advice please?

In November 2007 I sold my home. The property I owned was part of the Redrow housing developments and in accordance with my buyers solicitor, they retained a percentage of the sale proceeds to be released when they received confirmation that there was no outstanding balance owed to the management company (who I paid for utilities and maintenance).

Originally I was told the funds would be released on production of the end of year accounts from the company in early 08. This was then pushed back to mid 08 as the accounts were still being finalised.

I have been in constant contact with the solicitor who dealt with my sale, but they have told me they are at a loss what to do, as they have sent confirmation i owed nothing and the other solicitor still refuses to release the money.
The outstanding money is also causing a financial loss to myself as I had to make up the funds owed on a credit card which still has the balance I have been paying the interest for 2 years now.

If anyone can assist me I would be extremely grateful as it has been over 2 years now and i am still no closer to getting my money back despite me chasing and chasing. Would i have to go down the small claims route? I have tried the LCS and the SRA but both cant help me as it is a matter for a solicitor that wasn't mine?

very very stuck and confussed??? THANKS FOR LOOKING happy xmas

princeofpounds

See a solicitor who specialises in complaints against other solicitors. See what they say.

The law society regulates solicitors and it may well end up that you make a complaint to them.

One of these two avenues will produce results, nothing else will.

megatron33

thanks Prince. I did try the LEgal Complaints Society and Solicitors Regulation Authority but neither could help me.

i guess i may have to use another solicitor....but unfortunately that'll be more costs!

Arthritic_Toe

Sounds like your solicitor can't be bothered. Its not acceptable for them to "be at a loss as to what to do". They are supposed to know what to do - this is why you paid them. Maybe you should make the complaint about your solicitor not the other one.

princeofpounds

Why could the legal complaints service (assuming that's what you mean) not help you? They should have explained this in their response and it seems that you are leaving out a lot of details that are probably relevant (possibly for sake of brevity, which I understand).

Solicitors illegally retaining money is precisely one of the things they are set up to investigate.

You can always go to the legal service ombudsman which is the 'regulator of the regulator'.

megatron33

sorry Prince, yes the LCS (just could remember the acronym!) said they could not help me as it wasn't my solicitor i was complaining about. that was the bottom line, they did talk about the breach of undertaking but still recommended i go through my solicitor

Toe...you are right as well. I was of the same opinion so i raised an internal complaint with my solicitor as i wasn't getting any info other than "still chasing". this markably improved following the complaint and i have been in on all correspondence but still no nearer a resolution.

thank you for looking though, its appreciated

princeofpounds

ok that makes sense.

So yes it looks like you will have to engage solicitor #3!

Your solicitor is a bit rubbish for not educating themselves on how to deal with it, but complaints against solicitors are themselves a very specialised area so it's not entirely unexpected.

timmyt

What did the contract wording say about the retention. You suggest your Buyers lawyer holds it? If it was simply retained by them (mistake as your lawyer should have held it) pending confirmation that no further charges would fall to the Buyer for your period of ownership, then fine, you are in the right if you have written confirmation from the Mnagement Company and you have sent this to the Lawyer.

Your lawyer or you, should be writing to the Senior Partner of the offending law firm and tell them that unless the money is sent to you personally (or your lawyer if they are still instructed) within 7 days you will report them to trading standards as well as the Legal Complaints Service.