Same solicitor firm as vendor, yay or nay?

Tailender_Investor

So we sold our house a few weeks ago, instructed solicitor for sale etc.

Last week we had an offer accepted on a property to purchase, naturally passed on details to the same solicitor who is handling our sale.

I've just found out the vendor on our purchase is using the same solicitor as us.  It isn't the same physical solicitor but another one at the same firm.  However it is a small firm and only has half a dozen or so solicitors. To me it feels like a conflict of interest and I raised it with them.  I've been told that apparently it is fine and they keep everything separate but I have to sign a form agreeing to it and if a conflict does arise then I may need to find another solicitor.  Our lender would also have to agree to it.

Now I'm not sure how I feel about it.   I think a conflict of interest could arise and would the solicitor advise me truthfully when the same firm/bosses etc act for the vendor?  I think it would always be a niggle in the back of my mind and when you're spending hundreds of thousands of pounds I want someone to be 100% on my side.  

Now I think I already know the answer but should I find another solicitor?

I'm also presuming it would be me who has to find another solicitor as I'm the one not comfortable with it?  I think the vendors purposely went with the same firm as they sent the details a few days after I did but I suppose it could be pure coincidence.  Or do I go back to the solicitor and estate agent and say I'm not happy with us both using the same firm and one of us has to change and see if they're willing to move to another firm?

penny_less

We used the same firm of solicitors as our buyers and it caused no problems at all.

user1977

penny_less said:

We used the same firm of solicitors as our buyers and it caused no problems at all.

The problem for buyers is they often don't find out whether it caused them a problem until years later, and discover what the solicitors had smoothed over...and for both parties there is the risk that the solicitors decide an actual conflict means they do need to throw a spanner in the works at an awkward moment, and send one (or both) clients elsewhere to finish the transaction.

OP, you have thousands of firms to choose from, there's no good reason for having the same one as the other party.

Surrey_EA

For me, always use a different firm to look after your interests. There's no great advantage to using the same firm, and potentially a big downside.

As 1977 says, it could well be years down the line that a problem surfaces

theartfullodger

IMHO always use a different firm, certainly not one recommended by estate agents.  Risk of conflict of interest (the polite way of saying it..)

SiliconChip

Any horse will tell you, nay! I once sold a property and both the buyer and myself were existing clients of the same firm of solicitors, they arranged for the buyer to be represented by a different firm. If you did both use the same firm then they would need to have Chinese walls in pace to ensure that no confidential details of one client was known by the solicitor represnting the other, which many firms would find too much bother to arrange.

user1977

SiliconChip said:

Any horse will tell you, nay! I once sold a property and both the buyer and myself were existing clients of the same firm of solicitors, they arranged for the buyer to be represented by a different firm. If you did both use the same firm then they would need to have Chinese walls in pace to ensure that no confidential details of one client was known by the solicitor represnting the other, which many firms would find too much bother to arrange.

It's not just confidential information, it's whether you can really trust Ms Smith of Bloggs & Co to tell you that she thinks Mr Jones of Bloggs & Co is trying to pull the wool over your eyes...

Tailender_Investor

Thanks all, confirmed what I thought. 

Will get hunting for a new conveyancer. 

propertyrental

Different firm.

However I'd tell buyer that's the firm I'm already using (for my purchase) and they must use a different one.

Any other offers? If they refuse to switch, sell to next buyer on your list.

LegallyLandlord

As a solicitor, I advise choosing another firm. Keeps things clean. 

propertyrental

LegallyLandlord said:

As a solicitor, I advise choosing another firm. Keeps things clean. 

Yes but.... then OP has two different solicitors for sale and purchase which adds costs but more importantly, adds complexity.