• I Purchased A Property At The

    By Guest on 23rd May 2014

    auction to complete by 17-6-14. It is a cash purchase for £145000. I contacted a commercial conveyancing solicitor & told him to act for me. He said that there is nothing much for him to do at this late stage as I have already paid the deposit and I should just pay the balance to the vendors solicitors to complete & he cannot justify his standard fee. I am a bit confused. Does this mean that I can deal with the sellers solicitors directly. What about my ID check and source of funds check etc. Who will do this. I understand that there is a risk involved in me dealing with it myself but I am prepared for it if it is just a form filling exercise at this late stage. I know the Tenant well and there are no issues there. Thanks.

  • 1 Answers

    By Guest on 26/07/2014

    Assuming you don't need a mortgage you can deal directly with the sellers solicitors yes. Hey will ask you to send them a form ID1 and will ask for proof of funds. In my view however the solicitor you have spoken has missed an important point, which is that whilst yes you have contracted to buy the property and will lose your deposit if you don't and possibly be sued for other losses there could be something so wrong with the title that this might still be preferable to completing and paying the remaining 90% due. My advice is to instruct a conveyancer immediately.

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