There are times when you can’t just avoid using the same conveyancer that your transaction partner has hired. For instance, as a buyer, you may have had a direct negotiation with the seller regarding the contract of sale. This may help you save money but you might want to look at this situation carefully. You may not know it yet but there are risks in instructing the same conveyancer – both for you and the seller, as well the solicitor.
Conflict of Interest
There are several reasons buyers and sellers are better off choosing a different conveyancer each for a transaction. To start with, the conveyancer may end up in a conflict of interest. It might be tricky for them to look after both you and your seller’s best interest should a dispute or difference happen during the process. And even without a dispute, conflict of interest is still very likely to happen. For instance, if the buyer wants to move in before or at the same time that the transaction is completed, the conveyancer may not be able to advise the seller that it’s going to be unfavourable for them, because the buyer’s favour/interest is also on the table here.
A lot of conveyancers may also not agree to represent both the buyer and the seller in the same transaction. The ones that agree to this will often require both parties to sign release forms should a conflict of interest arise somewhere in the process. You should consider this before you even think about how much money you’re about to save when agreeing to use the same conveyancer that your seller hired.
Conveyancers Looking After Everyone’s Best Interest
Another reason you might not want to hire the same conveyancer is that it makes it harder for the expert to meet both parties’ interest. Buyers and sellers using the same conveyancer often find it that their best interests are often overlooked, and worse, neglected. This is because the conveyancing solicitor is likely unable to provide sound advice that will favour both parties. They’re apprehensive that whatever advice they give to one may negatively affect the other. It is important that buyers and sellers, at any given point in the transaction, are provided sound advice by their conveyancers to ensure a seamless transaction over time.
If both buyers and sellers will use the same conveyancing solicitor, they services they’ll likely get will be limited to the basic processes. They may not be able to get a personal level of service and extensive advice, compared to when they hire a different conveyancer.
Given these reasons, you should consider instructing a different conveyancer to work on your transaction. This will help ensure that you and your seller will have high quality advice and excellent services as your respective conveyancers work with each other. Your best interest will be given utmost consideration and your rights are absolutely protected. You can also expect a much straightforward conveyancing process while all the challenges in the process are looked after and taken care of. If you’re still in doubt or clueless as to which conveyancer to hire, it is always best to shop around. You might want to request for a conveyancing quote from different firms to compare, especially if you have a budget set to the process alone.