Sponsored blog post: A Bad Property Deal Does Not Automatically Mean Landlords Can Sue Their Solicitor

The last few years have see property prices fall. This is especially true for city centre residential properties such as new build ‘luxury’ flats that have lost nearly 40% of their value in some northern cities. Given the scale of the losses suffered by landlords and banks it is not surprising that they are looking for a professional to blame in order to recover their losses.
Suing a property solicitor is often seen as a good option as these professionals were meant to advise on all aspects of the property transaction. Solicitors also have professional negligence insurance policies and so are able to pay out compensation unlike many estate agents.
However, suing a solicitor for the loss of value of a property is not so easy. The landlord would need to show that the solicitor has been negligent. Just because the economic conditions turned for the worse or that a property investor purchased a bad apple does not amount to negligence. Disgruntled investors should speak to a specialist solicitor to see if they have a claim against the former solicitor before spending too much time and effort.

October 7, 2011 · Tim Kevan · Comments Closed
Posted in: Uncategorized