Error in our completion statment

Arthritic_Toe

Speaking generally, many people are just not mathematically capable enough to do the calculations involved in a completion, and rely on the solicitor to do this for them. It is my suspicion that some solicitors exploit this fact by making 'accidental' errors in their own favour. If the errors are spotted by the client, they are laughed off as 'oh silly me' sort of errors. If they are not spotted, its a nice little earner for them. I obviously have no proof, but this is based on my own experience of 2 completions, both of which contained arithmetic 'errors' in the solicitors favour. Maybe I'm just paranoid.

Yorkie1

Given that deliberate 'errors' as you describe, AT, would be sufficient for criminal proceedings, jail, professional disbarring for any solicitor trying it on, I think you are being paranoid.

silvercar

If you knew it was an amount that had to be paid, the best you can hope for is to agree to pay it off over a few months.

With regard to the bill from the estate agents we will have to pay that but it's annoying as we adjusted our borrowing based on the completion statement and borrowing the money will be more expensive now

You must have calculated how much mortgage you needed to apply for way before the completion statement. By the time you had your completion statement you would have had your mortgage offer.

Arthritic_Toe

Yorkie1 wrote: »

Given that deliberate 'errors' as you describe, AT, would be sufficient for criminal proceedings, jail, professional disbarring for any solicitor trying it on, I think you are being paranoid.

Well maybe. However, it can never be proven as it can always just be attributed to an arithmetic error. Are they subject to any independent scrutiny e.g. an audit of a random sample of conveyancing transactions?

Certain professions seem to be above scrutiny. If I'd said the same thing about MP's expense claims 2 years ago, you may have responded that such actions would be sufficient for criminal proceedings, jail etc and therefore unlikely...

JQ.

AT - I think you've completely missed the point. The error by the solicitor financially benefitted the OP not the solicitor. I'm guessing they walked away we a few extra thousand pounds. Perhaps the OP did not notice or perhaps they did and kept quiet, but ultimately they now need to repay that money.

timmyt

martinl wrote: »

Thanks everyone for your posts.

With regard to the bill from the estate agents we will have to pay that but it's annoying as we adjusted our borrowing based on the completion statement and borrowing the money will be more expensive now.

My question really is - do I have any come back against the solicitors? We paid them (a lot of money) to ensure that that we didn't have any nasty surprises like this.

The solicitors have got their fee and we've been left with the threat of court action from the estate agents which has arisen solely from their mistake. (we knew nothing about this until a snotty letter threatening court action arrived from the estate agents)

only you know your finances, you get that statement from the solicitors to check and yopu failed to do that.

the lawyer gets the least paid in the whole property move (when compatred to the surveyor, agent and mortgage company) yet you blame them.

keep them on board as they can be in your mobile to help you on another occassion.

Arthritic_Toe

JQ. wrote: »

AT - I think you've completely missed the point. The error by the solicitor financially benefitted the OP not the solicitor. I'm guessing they walked away we a few extra thousand pounds. Perhaps the OP did not notice or perhaps they did and kept quiet, but ultimately they now need to repay that money.

In the OP's case, yes. I was broadeneing the issue to completions in general. In both cases I have experienced (2 different completions, different solicitors), the error has been on the final completion statement and has simply been one of form:

mortgage advance a
- search feees b
- land registry fees c
- etc etc d
- purchase price of property e

Balance to be paid to your friendly solicitor prior to completion is a-b-c-d-e = £1234.

How many people actually check this arithmetic? Remember, the numbers are big and scary and for a lot of people, who haven't done any maths since school days, virtually impossible.

In 100% of the completions I have been involved with (ok its only 2), they have got the arithmetic wrong which would have resulted in a nice little bonus for them.

Its not only plumbers and builders who have their contingent of rougue traders.

evoke

How difficult is it to add up some numbers?

Caroline_a

Unfortunately I don't think you will have any comeback with the solicitors. A similar thing happened to a friend of mine who had a bill from her solicitors around 6 months after she had completed for 'survey costs'. They had not included them in their final bill (or had missed some stuff off, I don't know details), and after 6 months of fighting every which way she could she eventually had to pay up. It wasn't the fact that she owed the money, it was that she of course hadnt budgeted for this large additional bill.

Thrugelmir

ginandtonic1988 wrote: »

Did you receive a draft completion statement before completion? If so why did you not query the figure then?

Standard practice to issue draft completion statements, isn't it?

Maybe the OP thought they had got away with underpaying the EA's.