Many buyers and sellers assume that they will get the same level of service whichever legal firm they choose to act for them in their sale or purchase. Sadly, this is far from true. Generally speaking you get the service you pay for.
The London market is different to the rest of the UK in that good property moves very quickly regardless of the economic climate. Leasehold property predominates and some leases come with issues that need resolution, perhaps by extension or variation. These issues need to be addressed to meet your lender’s needs and to ensure the property can be easily sold by you at a later date.
Many property transactions form part of a chain or related sales. The chain can only go as fast as the slowest link. It is a fact that one in every three chains will fall apart often at the last moment. People can pull out of a transaction on a whim. The longer the transaction takes the more likely someone will decide not to proceed for no valid reason. It’s a syndrome known as “buyer’s remorse” or “getting cold feet”. Sometimes it is even due to the agents forcing a deal when the seller or buyer were not wholly committed to buy or sell.
A good solicitor should be able to recognise any issues soon enough to proactively deal with them and minimise the effects thereby ensuring a smooth and timely progression to completion. Speed and communication is the key to the whole process as well as being able to contact your solicitor easily. A telephone conversation with a ‘case handler’ with no legal knowledge at some remote call centre dealing with hundreds of transactions at rock bottom prices just won’t cut it.
So even though using a London solicitor can initially seem more expensive, legal issues can be resolved properly and in a timely manner. This can and often does save you time. If you are able to contact your solicitor easily you can avoid the hassle and stress of ‘chasing’ the transaction enabling you to achieve your objective swiftly and efficiently, thereby saving you money.