Can one firm act for buyer and seller?

chivers1977

May well be selling via private sale. Could our friend instruct the same firm of conveyancers? Would it be a conflict of interest as it would seem easier to me!

Cara79

Hi there

Yes, I think this would be a conflict of interests and I do not think this is allowed.

Cx

Dan29

Definitely not allowed.

plane_boy2000

We sold a house to our in laws a few years ago and they wanted to use our solictors for speed, not allowed. The conveyancer in question is a personal friend and told us that it was a conflict of interest.

hazeyj

I was told by my nanas sol that this was possible if the sol's firm in question had acted for one of the parties previously.

Debt_Free_Chick

First off .... remember that you want a solicitor to advise on what's best for you - especially if there is a disagreement. They can't do that if they're also advising the other party.

It IS possible to appoint the same firm of solicitors, to act for both buyer and seller, but different partners would need to be appointed to act independently i.e. one for the buyer and a different one for the seller.

It might be a little quicker, as no documents need to go via mail or the DX exchange .... but then most is done by email anyway.

There is no real advantage however as, if you use the same firm, then the partners have to operate a "chinese wall" so that they do not reveal the buyer's details to the partner acting for the seller and vice versa.

chivers1977

aha, you all agree! Thanks!

Bossyboots

As DFC says, what happens if there is a conflict. You could both potentially end up having to go elsewhere.

There is a strict set of rules in place to govern when both parties can instruct the same company. These can be found here http://www.lawsociety.org.uk/professional/conduct/guideonline/view=page.law?POLICYID=565

However, this relates to solicitors. If you are planning to use licensed conveyancers the position may be different.

clutton_2

""if the sol's firm in question had acted for one of the parties previously"" - then you can use the same firm for vendor and purchaser.

this is exactly what my solicitor told me last week.

Bossyboots

clutton wrote:

""if the sol's firm in question had acted for one of the parties previously"" - then you can use the same firm for vendor and purchaser.

this is exactly what my solicitor told me last week.

The rule I have linked to which is the Law Society rule, states that both parties have to have been previously represented by the solicitor unless one of the other criteria is met.

chivers1977

Our friend can sort himself out then....