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checking soliciters...

tigsly
tigsly Posts: 481 Forumite
Part of the Furniture 100 Posts Combo Breaker
in House buying, renting & selling
I was wondering if i'm meant to 'check' my buyers soliciter is 'safe' adn that they wont run off with my money (or am I being paranoid? I read a few 'horror' stories!)

Comments

  • WestonDave
    WestonDave Posts: 5,154 Forumite
    Rampant Recycler
    Not something you need to worry about. Firstly whilst there are stories of a small number of rogues pretending to be solicitors you would be extremely unluck to come across one. Secondly as the vendor your funds are safe provided your solicitor is genuine as you won't pass over the legal title to your property to the buyer until their funds are with your solicitor. So choose yourself a reputable known local firm of solicitors, for peace of mind if you are still unsure check their details on the SRA website to make sure they are registered and let them get on with it. The worst that can happen is that your buyer does indeed choose a rogue firm, who pockets their purchase money (mostly mortgage funds) and you have to resell the property because its fallen through.
    Adventure before Dementia!
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    edited 18 March 2014 at 11:23AM
    This can be a real concern, and yes, it is worth checking.

    There was a useful thread on the matter last year - I'll try to find it.

    edit: here's a start:

    http://insideconveyancing.co.uk/content/conveyancingfraud

    http://www.legalfutures.co.uk/latest-news/sra-under-fire-for-failin-to-act-on-bogus-law-firm-warning

    http://www.lawyerchecker.co.uk/ViewNews.aspx?uid=00000008

    (sorry - the above are aimed at solicitors - I can't find the moneysaving thread...)
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