Can a lawyer act for both the seller and the buyer of a house?

Answer 1

It is possible in the UK but only in very limited circumstances.

From the Law Society professional conduct guide:

6 (2) (Solicitor acting for seller and buyer)

(a) A solicitor must not act for seller and buyer:

(i) without the written consent of both parties;

(ii) if a conflict of interest exists or arises; or

(iii) if the seller is selling or leasing as a builder or developer.

(b) Otherwise, a solicitor may act for seller and buyer, but only if:

(i) both parties are established clients; or

(ii) the consideration is £10,000 or less and the transaction is not the grant of a lease; or

(iii) there is no other qualified conveyancer in the area whom either the seller or the buyer could reasonably be expected to consult; or

(iv) seller and buyer are represented by two separate offices in different localities, and:

(A) different solicitors, who normally work at each office, conduct or supervise the transaction for seller and buyer; and

(B) no office of the practice (or an associated practice) referred either client to the office conducting his or her transaction; or

(v) the only way in which the solicitor is acting for the buyer is in providing mortgage related services; or

(vi) the only way in which the solicitor is acting for the seller is in providing property selling services through a SEAL.

(c) When a solicitor's practice (including a SEAL) acts in the property selling for the seller and acts for the buyer, the following additional conditions must be met:

(i) different individuals must conduct the work for the seller and the work for the buyer; and if the individuals conducting the work need supervision, they must be supervised by different solicitors; and

(ii) the solicitor must inform the seller in writing, before accepting instructions to deal with the property selling, of any services which might be offered to a buyer, whether through the same practice or any practice associated with it; and

(iii) the solicitor must explain to the buyer, before the buyer gives consent to the arrangement:

(A) the implications of a conflict of interest arising; and

(B) the solicitor's financial interest in the sale going through; and

(C) if the solicitor proposes to provide mortgage related services to the buyer through a SEAL which is also acting for the seller, that the solicitor cannot advise the buyer on the merits of the purchase.


So it is highly unlikely, even though it is possible. Its unlikely that any firm would agree to act for both.

Answer 2

No.

A Solicitor I used to work for accepted the seller of a house as a client. Then a day later the buyer approached the same Solicitor, and was turned away from the company (even though they had acted for them on a different matter). It would have been complicated keeping the paper work seperate and it would have been a conflict of interests.

Answer 3

As long as there is no conflict of interest, yes.

Like the woman in the UK said, it's in limited circumstances.

99% of the time there is a conflict of interest, but there are instances where it can be done without any issues. Usually it is when two people are living together in the property and one wishes to sell to the other and some parent to child transactions.

If there is no conflict of interests, it's permissable. It's unusual to have a situation like this, but it does happen.

Answer 4

Even if it is possible, most solicitors won't due to "conflict of interests".

I know a family where the daughter was a solicitor and the mother sold her the family home (to help her get onto the property ladder). Being a solicitor meant she could get free/low cost conveyancing by using her own firm. The mother had to use her own solicitor.

Answer 5

you're saying you're advertising you domicile and had a freelance to close on June thirtieth. June thirtieth remains 28 days away. Do you recommend might thirty first? It extremely relies upon on what the wording of the purchase contract says and likewise you will ought to manage semantics. - given which you probably did no longer make extra effective the contract, that's no longer the customer of your very own residence's fault... it sort of looks such as you will possibly get to maintain your purchaser's earnest funds for that reason. it would look hassle-free on your broking to get to maintain yours.

Answer 6

i don't know if this is possible legally, but it would be wrong ethically, and it would be a very bad idea from the perspective of both the buyer and the seller.

Answer 7

I would honestly say the answer is "neither". You typically don't need a lawyer to either buy or sell property. What you need is a licensed and reputable real estate agent...and a different one for each side of the transaction. Using a lwayer for these transactions would make them VERY expensive.

Answer 8

No - is the simple answer - conflict of interests

Answer 9

I don't think so. When we bought ours we could not use the same office. We had to use another branch of the firm.

Answer 10

no beacause then there will be a conflict of interest