Law Society Protects Elderly From Abuse In Property Sales

AlanVarley

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Some years back a couple purchased a pensioners property they found after distributing leaflets looking for vendors,
Not aware of the market value of their home located in a premier area and no auctioneer or family to help,
And as there were no competing bidders driving up the price this couple got a cheap house.
If the same solicitor acted for both parties, are they liable for any loss the vendor had ?
What has the Law Society introduced to prevent this from recurring ?
 
I thought it was a legal requirement for the buyer and seller to have different solicitors.
 
From the Law Society Website

Practitioners’ attention is drawn to SI 375 of 2012, whereby a solicitor, from 1 January 2013 onward, may not act for both vendor and purchaser in a conveyancing transaction (as defined in the SI and including a voluntary transfer), except in a few limited circumstances as set out in the statutory instrument.

mf
 
From the Law Society Website

Practitioners’ attention is drawn to SI 375 of 2012, whereby a solicitor, from 1 January 2013 onward, may not act for both vendor and purchaser in a conveyancing transaction (as defined in the SI and including a voluntary transfer), except in a few limited circumstances as set out in the statutory instrument.

mf
Thought something was introduced in 2017 to protect elderly , did not realize it was 2013, thanks for clarifying that.
 
I thought it was a legal requirement for the buyer and seller to have different solicitors.
I thought it was a legal requirement for the buyer and seller to have different solicitors.

I thought it was a legal requirement for the buyer and seller to have different solicitors.
Just learned this
I thought it was a legal requirement for the buyer and seller to have different solicitors.
Just learned from mf 1's post that this requirement was introduced in 2013, which is good to see ,the case I learned of happened long before that,
 
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