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Conflict of interest?
panholio
Posts: 64 Forumite
Hi,
I'm new to this forum but have been having a good read for the last couple of months. Thanks for all the useful info! :money:
My girlfriend and I had an offer accepted on the house we want last week and since then we have sorted our mortgage and appoionted a solicitor. We went with a local one who seems to have given us a good price.
Got up this morning and a letter form the EA arrived confirming our offer and purchase of the house. Apart from it being a very poorly written document (misses off my girlfiends name! :T ) it gives us details of the vendors solicitor. They are the same ones as ours. Is this a good situation or does it constitute somewhat of a conflict of interest?
Any advice greatly appreciated!
Mark
I'm new to this forum but have been having a good read for the last couple of months. Thanks for all the useful info! :money:
My girlfriend and I had an offer accepted on the house we want last week and since then we have sorted our mortgage and appoionted a solicitor. We went with a local one who seems to have given us a good price.
Got up this morning and a letter form the EA arrived confirming our offer and purchase of the house. Apart from it being a very poorly written document (misses off my girlfiends name! :T ) it gives us details of the vendors solicitor. They are the same ones as ours. Is this a good situation or does it constitute somewhat of a conflict of interest?
Any advice greatly appreciated!
Mark
0
Comments
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Same company or same office (if they have more than one)? Might make a difference.
I thought this wasn't allowed though...
Even if it was, not sure it's a good idea.Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery0 -
Both the vendor and purchaser can use the same FIRM but not the same SOLICITOR so as long as it's a largish firm with more than one Solicitor it will be fine.My home is usually the House Buying, Renting and Selling Forum where I can be found trying to (sometimes unsucessfully) prove that not all Estate Agents are crooks. With 20 years experience of Sales/Lettings and having bought and sold many of my own properties I've usually got something to say
Ignore......check!0 -
We are using the same company as our buyer we had to sign a letter to say we didn't have an issues with our buyer using the same company. In fact this is better and can sometimes speed things up personally I see this as a good thing.House purchase completed 6th December whole process took 4 months.
Hang in there everyone it is worth it0 -
Providing the Solicitors you are using has a miniimum of 2 fee earners, then their wont be a problem. You cant use the same Fee Earner as then yes their would be a conflict of interest, but by using another one in the same office....as they say, it can help as it speeds the system up as they havent got to wait for letters to be delivered by Royal Mail!
We and our buyers are using the same solcitiors, but different offices, so really we dont see the benefit as unfortuantely still things are sent through to the other office and this takes time.
But with it being the same office - you have an advantage!!0
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