What do we do now?

danilou21

What do we do now? We are FTB and have just had an offer accepted and are not sure what we do next, my fiance is calling the mortgage guy today and I am ringing round solicitors for the conveyencing, but am tempted to go with the ones that the estate agents have as they do a 'no move - no fee' service, would this be a good idea or do I go with the cheapest quote I get? Please help! Is there anything else we have to do yet?

Lorian

Personally I'd find someone based on a local recommendation. Ask firends, colleagues who they have used and if they have been happy with the service offered and the fees.

I wouldn't use the estate agents recommended company personally.

danilou21

The thing is, I'm new to the area and don't know that many people here. I can't use who my parents used as they are no longer. Why wouldn't you use the estate agent one?

kunekune

Because their interest is in the sale going through and getting the fee; you need a solicitor whose main interest is in you not buying house that has something wrong with the legal title. And if they are no-move-no-fee, I would imagine the likelihood of it going wrong is just built into the house, so the successful movers are subsidising all the ones that are falling through.

chickmug

kunekune wrote: »

Because their interest is in the sale going through and getting the fee

But isn't that the objective of the EA?

You also comment on solicitor perhaps not doing a thorough job. Highly unlikley they would intentionally let something wrong through. Although I accpet that the EA may be given a thank you!

LandyAndy

Buy the local paper. Look in the ads and you'll find a number of solicitors advertising conveyancing. Give one or two a ring to get a feel for prices. Go and see one and discuss what you need. I would always use a local solicitor so that I can have personal contact if necessary. As an FTB you will probably find it helpful to have someone you have met and who you can ring up or visit with questions. Also, as kunekune says, they will definitely have your best interests at heart.

Good luck

fascinated

I personally wouldn't automatically use the Solicitors recommended by the Estate Agent either. They will have some sort of commission based arrangement going on - which isn't necessarily a bad thing, but I have had unpleasant personal experiences of this in the past.

Try and do a little bit of research into the firm of Solicitors they are recommending before you make a decision. Particularly I would try to ascertain whether one Solicitor will be dealing with your file, or whether they operate a "conveyer belt" case management type system. I have found in the past that things get missed with this type of system, and also it is very difficult to speak to anyone who actually knows all the ins and outs of your case.

I don't think a firm would be deliberately negligent, but things do get missed if the file is being passed from pillar to post.

Just my opinion.

HTH.

Debt_Free_Chick

I understand that once you appoint a solicitor they are duty-bound to act in YOUR interests and any failure to do so would have serious consequences including action taken against them by the Law Society.

I don't think that the solicitors actually pay any commission to the EA for the introduction - it's more likely to be a reciprocal arrangement whereby the solicitor recommends the EA in exchange for the EA recommending the solicitor.

Any commission paid to the EA by the solicitor would have to be disclosed to the client - if not automatically, then certainly on request. So ask the solicitor if they pay a commission to the EA.

Debt_Free_Chick

Here's Rule 9 of the Solicitors' Code of Conduct.

It's the introducer - the EA - who MUST tell you if they are getting a financial reward from the solicitor for introducing you.

I think the idea of a commission paid by the solicitor is more urban myth than reality.

Mary_Hartnell

There is absolutely no substitute for getting involved yourself.
Do you think a busy clerk at a firm of solicitors, working conveyor belt style, is even going to remember your case in a weeks time?
Talk to the neighbours.
Check the council for the local plan and any file they have on your intended property.
Check the other prices in the street.
Invest 6 GBP, perhaps more depending on what you find, to get your own copy of the Land Registry documents (or is this automatically in the HIP these days?)
If you or a friend have knowledge of building techniques, do your own survey - A Library book will give you a chapter by chapter check list.
Failing this survey your surveyor if you can - they will tell you verbally things that do not appear in the bland report. You might even get a valuation for free!

fascinated

You said it so much better than I did Debt_Free_Chick. I think you're right. The EA will be recommending the Solicitors on the basis that the Solicitor then recommends them, or will agree to pass any Probate properties that come through their hands to the agents for marketing.

I have come across situations many years ago whereby the Financial Services side of the agency was linked to certain firms of conveyancers, although I would be very surprised if that were still the case.