Should I Instruct Solicitors before chain completion..??

sujsuj

I am in the process to change my house (sell mine & find a new house for  me). My EA managed to find a buyer, but I haven't got my forward chain completed - ie I haven't found a house to buy!
I was in the market for an year, found 3/4 houses I liked. But none of the EA was ready to accept my offers until  my house is under offer!. Finallly earlier in the year I found a buyer for my house, but at that time I couldn't find a suitable house for me as houses I liked all either SOLD or removed from the market. So at that time Ididn't instruct Solicitor & told EA  I will instruct  Solicitor only when I find my new house. Then Covid-19 came and after Lockdown end I found a house - by that time unfortunately my buyer disappeared.

Now again last week I have a new buyer, But no properties I liked in the market!!!
Now Question I have is Should I instruct a Solicitor  now Proceed and Exchange only when I finds house OR I should NOT instruct  Solicitor  until I finds a new property and chain is completed??? I have no plan to move to a rented house in between properties. So will exchange only when I have a property to buy.

Whats the best time to instruct solicitors without loosing my buyer same time dono't want to exchange untill I have a property.  Also not keen on online solicitors who offers 'no sale no Fee' as not sure how realiable they are ?? I heard some stories of solicitors running away with mortage/seller's money!!

hazyjo

It's pointless getting a solicitor to do work on your sale until you have somewhere to go.

By all means appoint one, but tell them not to start work. That won't make the slightest bit of difference though to whether your buyer gets fed up waiting and gives up (as is their right).

Best off using a local solicitor. Ring for quotes and/pop into offices if they're open. Choose one you feel comfortable with.

sujsuj

Thanks . But if I appoint one they need to do some work like formal offer details exchanged b/n soliacitors etc right..? At the moment my EA not given buyer details as they are asking me to instruct solicitor to start process to formally exchange those details b/n solicitors.

hazyjo

You'll just give their details to the estate agent. They won't need to actually do anything if you tell them not to. Just get a contact and let them know you will instruct once the chain is complete.

MovingForwards

Appoint a solicitor, but tell them not to do anything until you say so.

Provide the contact details to your estate agent.

Look for a new house. Make offer. Offer accepted. Tell solicitor you are ready for them to act on sale and purchase.

Remember to get at least 3 solicitors quotes and carefully check the quote covers all the work.

Scotbot

sujsuj said:

Thanks . But if I appoint one they need to do some work like formal offer details exchanged b/n soliacitors etc right..? At the moment my EA not given buyer details as they are asking me to instruct solicitor to start process to formally exchange those details b/n solicitors.

No if you instruct them to do nothing they will do nothing. It is pretty common with chains.

sujsuj

Thanks very much for th prompt responses.

peterhjohnson

It may be worth going a little beyond appointing your solicitor if there is anything (potentially) complicated about your sale. EG: in my case, the land was unregistered and  my Building Society didn't have anyone left who remembered how to do their part in such a situation. This cost us several weeks delay. If my solicitor had known this earlier and realised that this might be an issue it would have saved a lot of stress.

sujsuj

Mine is sale only at the moment as I haven't got a house to move. My house  doesn't have any issues of this sort. Thanks.

rik111

Glad I’m not the buyer of your house....