Instructing solicitor before buyer's survey

Ponsienella2

We have accepted an offer on a house we are selling. The valuation and Homebuyers' survey is on Thursday. We asked the EA to advise us of the name of the solicitor the buyers are using in case we also want to use them. He phoned me on Friday evening to ask who our solicitors is and I reminded him I was waiting on the info from him. As it turns out, I definitely don't want to use their solicitors as I don't like some of their reviews.

In any event, I would prefer to wait until after the survey and valuation to ensure the sale is going ahead at to be agreed price.

I now have quotes from solicitors and I asked one who agrees my stance in waiting is sensible. I'd just like to hear the views of other people. I'm sure my EA will phone this morning, pushing me to instruct one immediately.

Flugelhorn

there is a difference between telling the EA  which solicitor you are planning to use and actually asking the solicitor to get going. I have bought 3 properties in the last few years - my solicitor's bumph basically says "let us know when you want to get started with searches etc, some people want to wait until surveys done etc etc "

user1977

There's no harm (or likely cost) in at least getting things started with your solicitor so they can open a file etc, and that saves a bit of potential delay later on. Dragging out the process in the name of "money-saving" just increases the risk of something else throwing a spanner in the works.

youth_leader

The EA won't be able to send the Memorandum of Sale until you provide your solicitor details.  My vendor didn't have a solicitor when she accepted my offer and I had to wait two weeks, it was unsettling.   Your chosen solicitor won't do anything until you instruct.

Flugelhorn

youth_leader said:

The EA won't be able to send the Memorandum of Sale until you provide your solicitor details.  My vendor didn't have a solicitor when she accepted my offer and I had to wait two weeks, it was unsettling.   Your chosen solicitor won't do anything until you instruct.

agree it is unsettling and not a good impression - I had a buyer who did similar, family member of the buyer was a solicitor and was aware that because funds were coming from US it could be more complex and it too them a couple of weeks - I honestly wondered why they were so slow and I got quite concerned , sale fell though (not related to funds or solictor!)

Ponsienella2

@User1977
I'm not anticipating particular issues but it is an old house and, if the buyers were to come back with a reduced offer I wasn't happy to accept, surely I would have incurred some solicitors costs if I've instructed for it to be sold to them?

Flugelhorn

Ponsienella2 said:

@User1977
I'm not anticipating particular issues but it is an old house and, if the buyers were to come back with a reduced offer I wasn't happy to accept, surely I would have incurred some solicitors costs if I've instructed for it to be sold to them?

you may but the vendors aren't going to take you seriously until you come up with a name, see it as a sign of commitment to the purchase - TBH until there is a memorandum of sale they could reasonably keep it on the market 

Ponsienella2

@youth_leader
This is the first time I've sold a house. EA said the buyers want to get it done and dusted asap (although that could just be that EA wants it done quickly) but I would be able to tell him which solicitor I will use who I will instruct straight away as soon as I know after survey that they are going ahead at the agreed price. 

user1977

Ponsienella2 said:

@User1977
I'm not anticipating particular issues but it is an old house and, if the buyers were to come back with a reduced offer I wasn't happy to accept, surely I would have incurred some solicitors costs if I've instructed for it to be sold to them?

Minimal costs, if any - what work do you think they'll have done by that stage?

Flugelhorn

user1977 said:

Ponsienella2 said:

@User1977
I'm not anticipating particular issues but it is an old house and, if the buyers were to come back with a reduced offer I wasn't happy to accept, surely I would have incurred some solicitors costs if I've instructed for it to be sold to them?

Minimal costs, if any - what work do you think they'll have done by that stage?

With selling - presumably you are going to sell it at some point even if it is not to these buyers? if they change the offer and you don't like it then you start again - the solicitor will just carry on with the new buyers, certainly what happened to me when buyers backed out - no extra costs, costs really only come in if you stop the process completely 

Ponsienella2

@Flugelhorn
"you may but the vendors aren't going to take you seriously until you come up with a name, see it as a sign of commitment to the purchase - TBH until there is a memorandum of sale they could reasonably keep it on the market"

I am the vendor. The EA lists it on his Facebook page as SSTC. There is no sign up outside (well, there was but I had it taken down as it was put up despite my request). I wouldn't countenance anyone else viewing it now as I am committed to the sale. I supposed I am just anxious as they offered £15k above the 'offers over' price, although judging by other sales in the road, I knew it would go for a higher amount. Reading newspaper articles talking about falling prices doesn't help.