Can a seller pursue conveyacing with 2 buyers at same time?

G_M

gofish wrote: »

I agree if one buyer is taking too long then its justified ifthe buyer is informed of the seller’s intent by the estate agent. But is itpossible that the seller takes up double dealing from the start of the process andas a buyer I am never informed and gazumped just before the exchange.
Yes it is possible.

So there is a safeguard to at least inform all buyers involved.

In my own case, there was no solicitor involed (on my side) as I did my own conveyacing. The decision to inform both parties was therefore my own - but in theory I could have kept them both in ignorance.

silvercar

jjlandlord wrote: »

No because, whatever silvercar means by 'contract issued', the solicitors may not know.

However, considering the scenario the vendor will probably want all prospective buyers to be aware of it because that's the point of the game, isn't it?

See here.

Key sentence: The seller is responsible for drawing up a legal contract to transfer ownership.

Law society conveyancing protocol (its a pdf so google for the whole document), key sentence: 7. Share information with others to assist in the efficient management of each transaction or chain of transactions. Requirements to provide and share information in each stage of the Protocol are subject to client confidentiality obligations. If the buyer/seller consents to the disclosure of information about the transaction, other transactions in the chain or any change in circumstances, this information should be disclosed. The buyer/seller should not be encouraged to withhold authority to disclose information unless there are exceptional circumstances.

jjlandlord

It says that a solicitor should share information if (a) it is given to him (obviously) and (b) his client consents to the information being disclosed.

Therefore that is no safeguard at all and it is up to the seller to decide what to disclose.