The nervous wait to exchange....

  • Thread starter Thread starter noj
  • Start date Start date
The solicitors themselves will have a clear code of practice in place for dealing with this. That said, it shouldn’t really matter if you appoint a competent solicitor.
 
Personally I would say you dont want to use the same solicitor but if their solicitors can recommend one/some that they work well with historically you would select from a list of "approved ones"

Do you have the mortgage offer, some lenders prefer or insist their approved are used
 
Most competent solicitors are on most lenders approved lists.

The lender can only insist on their approved solicitor works on their interest in the transaction, the rest of the work can be done by another solicitor if you want. That said if you don’t use a solicitor on their list, they will charge you extra for them having to engage one separately as it’s much more work.
 
Mercenary Keyboard Warrior said:
Personally I would say you dont want to use the same solicitor but if their solicitors can recommend one/some that they work well with historically you would select from a list of "approved ones"

Do you have the mortgage offer, some lenders prefer or insist their approved are used
Click to expand...

Ok thank you, I'll check in with the solicitor once the estate agent sends the information through.

We do have a DIP with Halifax through a broker, but we haven't either taken it to the next step, or seen a list of their approved solicitors yet
 
It's not a problem for most big companies to act for both seller and buyer. There are clear procedures in place and it will be treated as two separate transactions, "chinese wall" etc. It really makes little difference overall seeing as most things are done digitally these days and its only old school high street solicitors that use post really.

Source - half my caseload has the same company on the "other side".
 
HungryHippos said:
This would probably be a conflict of interest and wouldn't be allowed. Don't think the same solicitor firm can represent both sides of the chain.

I'm sure you can find a decent solicitor instead, just need to work towards a sensible timeframe.

Did they provide a reason the previous one fell through? You can usually offer to buy the searches the previous buyer made off them to speed things up a bit if they had them done.
Click to expand...

i always thought this was a conflict of interest but was proved wrong. My cousin is selling one of his homes to his brother and they're both using the same solicitors.
 
Rickyw88 said:
Looking for some advice please:

We're FTB's and have had an offer accepted on a house we really liked. Originally it went under offer before we had a chance, but it has now fallen through. The sellers already have a house lined up and it will be purchased without a mortgage.

The seller has accepted our offer on the basis that we go with the same solicitors firm (different actual solicitor) that they are currently using (also the same as the previous buyers) to ensure a smooth, quick transaction. Of course this is a slight conflict of interest, but I just wanted to get peoples thoughts and opinions on it.

We are in a great position, almost 30% deposit, currently renting so we are also up for a quick, smooth process...
Click to expand...

I was a buyer and opted to go with the same solicitor my seller used for this exact reason. They just use a different in-house solicitor and make you use their personal company emails rather than the group mailbox.
HungryHippos said:
This would probably be a conflict of interest and wouldn't be allowed. Don't think the same solicitor firm can represent both sides of the chain.
Click to expand...
As above, it is exactly what I did and it worked fine, though the solicitor I initially spoke to did "ask" the other solicitor and the seller to make sure everyone was comfortable.
 
LuckyBenski said:
Wasn't 9 months ago so I daresay nope*

* might be different in Scotland but I don't believe you're in Scotland
Click to expand...
Cheers thanks. No i am in the UK
HungryHippos said:
No it's not mandatory.

You can request one, though the seller may ask you to pay for it.
Click to expand...
Ok cool nice one.

Its fine. i am going to do a complete rewire anyway as i got a lot of tech and also want to run network cables around the house(see my post on the network and connectivity sub forum)
 
jonneymendoza said:
Cheers thanks. No i am in the UK

Ok cool nice one.

Its fine. i am going to do a complete rewire anyway as i got a lot of tech and also want to run network cables around the house(see my post on the network and connectivity sub forum)
Click to expand...

If you're planning to re-wire then I'd think that an electrical safety cert wouldn't be worth the paper it's written on anyway.
 
dLockers said:
I was a buyer and opted to go with the same solicitor my seller used for this exact reason. They just use a different in-house solicitor and make you use their personal company emails rather than the group mailbox.

As above, it is exactly what I did and it worked fine, though the solicitor I initially spoke to did "ask" the other solicitor and the seller to make sure everyone was comfortable.
Click to expand...

That sounds great thank you. I received the email from the estate agents....all it is is a quote from the solicitor outlining all the upcoming charges :D
 
Rickyw88 said:
Looking for some advice please:

We're FTB's and have had an offer accepted on a house we really liked. Originally it went under offer before we had a chance, but it has now fallen through. The sellers already have a house lined up and it will be purchased without a mortgage.

The seller has accepted our offer on the basis that we go with the same solicitors firm (different actual solicitor) that they are currently using (also the same as the previous buyers) to ensure a smooth, quick transaction. Of course this is a slight conflict of interest, but I just wanted to get peoples thoughts and opinions on it.

We are in a great position, almost 30% deposit, currently renting so we are also up for a quick, smooth process.
Click to expand...

s long as you're comfortable and the solicitors are happy with it do it mate

It'll likely save you no end of bother with back and forths
 
And I am back in the game! Instructed the agents last night and now starting the form filling/data finding/house shopping/solicitor hunting/fees understanding/etc etc part...
Looking to sell up, and move further up North and get a bigger place for us.
Using a local agent, and have had 4 responses from them already this AM! So, looking good so far...
Plan is be done before XMAS :D (isn't that what everyone says!)
 
No exchange today :( sellers onward purchase is apparently missing a signature at some point so now they'll have to try again on Tuesday. Really disappointing, need to give notice on our rental and don't really want to wait much longer when we have a planned completion date of the 30th. Would you risk giving notice anyway when its "this" close to exchanging? Plot twist, our seller is not in the country currently so if it's their signature missing this could get complicated...
 
Itchytrigg said:
No exchange today :( sellers onward purchase is apparently missing a signature at some point so now they'll have to try again on Tuesday. Really disappointing, need to give notice on our rental and don't really want to wait much longer when we have a planned completion date of the 30th. Would you risk giving notice anyway when its "this" close to exchanging? Plot twist, our seller is not in the country currently so if it's their signature missing this could get complicated...
Click to expand...

Delay as long as you can, don't want the sale to fall through and you've got to move out because you've given notice.

Sure they can sign remotely and send a copy somehow.
 
You must log in or register to reply here.
Back
Top Bottom