Views on the buyer using the same solicitor as the vendor - good idea?

mr_fishbulb

Hi all,

As a FTB, I've been looking at the solicitor options (local, online, etc). One of my friends suggested asking the vendor who they are using and go with the same people - it should speed up the process and may even be cheaper.

Has anyone done this, or have any views?

SmlSave

Unless there are special circumstances then I doubt you'll be able to use the same solicitors as there will be a conflict of interests.

purcel

My parents in law have done this last year and everything went very smoothly. One of the advantages is that they don't have to waste time sending documents in the post , just transfering them from one office to the other.
Overall they were very happy, transaction closed within one month.

princeofpounds

If both use the same firm, it will be different individual solicitors that represent each client, so you never really use the same solicitor.

To be honest, even using the same firms doesn't feel right, as you want solicitors to be free of all conflicts of interest.

The other main problem you might have is if the solicitors collude to generate extra work (and fees) for themselves being part of the same firm.

However, in a straightforward housing sale you aren't likely to find any conflicts so it's probably ok the majority of the time but I would be more cautious if there are any issues.

I would never use the solicitors recommended by an estate agent, developer or other party to a transaction that had some scale. In these sorts of situations the solicitor firm's loyalty can be biased to the bigger or repeat client.

Estate_Agent

It is a good idea in principle. As already mentioned you would likely be using seperate sols anyway. Be aware though that it does not necessarily speed up the process as it depends on the state of play in the forward chain - if there is one.

mr_fishbulb

Thanks all. I'm considering giving it as an option in the offer to the vendor that we will use their solicitors if they wish. Shows a bit of flexibility on our part and adds to the evidence that we are able to (and want to) move quickly.

lincroft1710

Use completely different firm. Even if you used same firm you would get the "junior" solicitor acting for you and if any dispute arose with vendor you would want the "senior" person on your side, which you won't have.

You won't save any money by using same firm.

Cezzabelle

Chances are the two transactions would be handled by different offices anyway. Solicitors have to be so careful due to conflict of interest if they are both acting on opposite sides of same purchase that, to be honest, its more of a hassle for them. You have a better chance of things moving quickly with different firms- Your solicitor wont put pressure on a colleague to work quicker in the way they would with another firm.

Dillence

We have just sold and my EA has told me that we cannot use the same solicitors as our buyer. I wasn't really that concered we usually use another solicitors and they turned out to be cheaper anyway.

martyp

As far as I recall I used the same solicitor and it did help speed things up a bit but then again it was my first house so I can't compare with any previous experience.
There were no issues though, I ended up getting the house for quite a bit under the sale price too...
Just my experience on this one, not saying it'd be the same for everyone of course...

ukmike

I ended up getting the house for quite a bit under the sale price too...

????please explain how you managed that!