same firm for buyer and seller

Bumba63

Does anyone have any opinions on whether its a conflict of interest for 2 legal executives from the same firm to act on the same sale, 1 for the buyer and 1 for the seller?


It seems to be an issue amongst solicitors but not sure with legal executives who must be regulated by someone other than the law society?
Thanks
Dianne

rosie383

The only people who ever seem to ask this are buyers or sellers who are persuaded by their EA to use their recommended firm. Beware. The EA will take around 70% of the fees as a referral, and the solicitor will get the rest. Anyone on here will tell you that it is possible to use the same conveyancing firm if different conveyancers or indeed different branches are used, and the EA will tell you that it will speed things up and make things proceed more smoothly.
If this is why you are asking, then it is entirely your choice as to whether to line the EA pockets even more.

G_M

Boringly regular question here.

Usual answer: find/choose your own conveyancer (or DIY) and don't use the same firm as the other side.

Bumba63

perhaps I should clarify the situation as people are making assumptions....


I chose my conveyancer from a recommendation from a family member who has used them before not on advice from the from the EA.


I happened to meet the buyer a few days ago as he wanted to take some measurements at the property. He happened to mention that he was using the same firm as me. Most probably the EA did recommend to HIM that he used the same firm as me which you could argue they have no right to do, however what surprises me is that the firm of solicitors has not said anything. What I am asking for is an opinion on the behaviour of the firm and whether they should have disclosed it or not.

G_M

Bumba63 wrote: »

Does anyone have any opinions on whether its a conflict of interest for 2 legal executives from the same firm to act on the same sale, 1 for the buyer and 1 for the seller?

My opinion is that it is a conflict of interest. If it were me I would either

* change my conveyancer or
* instist the other side change theirs (and refuse to progress till they did)

Is that clear enough for you?

benjus

I ended up in this situation because both the buyer and I used firms local to the property, and the two firms decided to merge half way through the process. Both the buyer and I decided not to disrupt matters further by switching solicitors, and the transaction proceeded without issues. However it's not a situation I would get into by choice.