Same solicitor for buyer and seller?

PPJ

Would-be buyer of our house just asked me if he could use same solicitor as me.

I said this was not a good idea, but this was my gut reaction, rather than through any specific knowledge of such matters. Just seems like common sense.

Is there any actual rule about this?

Happy_frank

Generally not allowed as it's classed as a conflict of interest, the solicitor can't act in both of you best interests.

Jamz

it is a conflict of interests for the solicitor so i would say no they can't but i could be wrong.

daveuns

Hi PPJ,

I have just done exactly this. We had to sign a form consenting to the same firm acting for both us and the vendor and my lender had to be informed that this was happening. We were not allowed to use the same solicitor and they had to be in seperate offices of the same firm. I think the rule governing it is called Rule 6.

My experience of this is that it has been great. No arguments between firms, no blaming of the other solicitor and we will have completed in just 5 weeks if you don't count the week over Xmas and New Year.

Good luck with your purchase!

PhantomPower

http://www.lawsociety.org.uk/professional/conduct/guideonline/view=page.law?POLICYID=565

Extracted from the Law Society Rules of Professional Conduct, Practice Rule 6.

Edit: As daveuns says above, a "Chinese Wall" can be set up within the firm. Ask your solicitor, he or she won't mind

Bossyboots

There are very strict rules governing when a firm of solicitors can act for the buyer and seller.

You can find them here http://www.lawsociety.org.uk/professional/conduct/guideonline/view=page.law?POLICYID=565

PPJ

OK, thanks everyone.

Seems that my reaction was quite reasonable then.

courtjester

It's your choice and as indicated, it is legally possible, but you need to appreciate that in the event of a conflict of interest arising (it's not just a phrase), how do you think the solicitor can properly advise you and their other client?

worrypants

it is an excellent idea to both use the same firm ( you cant have the same solicitor though)

we have done this twice and have had the best transactions of all the 12 buying/selling scenarios

definitly a big plus for all

I f I had my way i would never except a buyer who did not use same firm as me
it cuts out so much time wasting, makes completion day much less stressful as no waiting for money to pass through 2 solicitors.

Go for it quick!!!
good luck

PPJ

courtjester wrote:

It's your choice and as indicated, it is legally possible, but you need to appreciate that in the event of a conflict of interest arising (it's not just a phrase), how do you think the solicitor can properly advise you and their other client?

Yep, my feelings exactly.

Buyer has found his own solictor now.

Thanks everyone.