Solicitors asking for renumeration on introducing a buyer for a property

[monruth]

A solicitor who is aware that my friend will be buying a property to do up has said that he knows people who would want to buy it and if it goes through would like £xx,xxx. I somehow think that this is not right but my friend says if he helps to achieve a good selling price then he should be rewarded accordingly.

Is there anything in the solicitors code of practice ?

[sandyRoe]

If the prospective purchasers are prepared to pay over the market price then the solicitor would have earned his fee.

[monruth]

perhaps i was not clear - of course he would be entitled to any conveyancing fee but is asking a lot of money just for introducing the buyer. And for all I know could also be asking the buyer for money for the same introduction.

[woofgang]

people can ask people for money for any legal purpose and money for an introduction is not illegal. I don't know for sure but if he is not doing anything dishonest or doing it in his role as a solicitor, then I don't think there is a problem.

[woofgang]

and if he is also asking the buyer then again so what?

[beegeebee]

Surely would only be payable on contrct exchange?

[beegeebee]

Sorry for typo 'contract'

[Nini74]

that's what estate agents get their money for - introductions - and then they nag nag nag the solicitor until completion to get their money.....

[Nini74]

that's not to say its right for a solicitor to do so - but is he acting in the course of his role? If I was saving someone estate agent fees by introducing a buyer, i'm not sure i'd be cheeky enough to ask for a certain amount of money - but i'd certainly make lighthearted enquiries about how much money they're saving in estate agent fees...... in fact, i did once introduce a buyer to a seller - just out of the goodness of my heart, but they were both friends...

[ladybirder]

Make sure you don't pay until Completion if you choose to accept his offer. And don't make him Sole Seller. Is he charging more than an estate agent would charge?

[cassa333]

Do you have a contract with the solicitor to introduce a buyer?

If you don't need an estate agent ten offer him the amount that would be payable to the estate agent. If he is asking for a lot more than that would be tell him no. Otherwise you pay what he says...

[flip_flop]

Typical solicitor - most would steal the pennies from a dead mans eyes.

[tonywiltshire]

The behaviour of solicitors is well regulated by the solicitors regulation authority code of conduct, the first section of which is “you and your client”. Providing that the solicitor gives all relevant information over what his fee will be and what service will be provided the client has the opportunity of availing themselves of this service or declining it, there should be no question of them not complying with this code of conduct.
If a client is not satisfied with the account when submitted for payment they can complain to the senior partner of the firm in the first instance. There may, flip_flop, be a few bad apples in the barrel, but in the main solicitors give an excellent service at a reasonable cost