QUOTE(topearn @ Nov 29 2017, 06:12 PM)
Is it risky for seller to use the same lawyer use by buyer ?
Will the lawyer side with the buyer to give unfavourable terms to the seller ?
What are the advantages and disadvantages of using same lawyer that the buyer uses ?
honestly, whether you are appointing your "own" lawyer or requesting the assistance of the purchaser's solicitors to assist you to complete the transaction, the risk is the same and at the end of the day, all vendors are afraid of that the solicitor will run away with the money but you can be rest assured that this will not happen unless that firm of solicitors looks dodgy. practically speaking, no solicitors will risk their practicing certificate for a small amount of money, not worth it.
solicitors are generally obliged to draft the sale and purchase agreement as fair as possible but we cannot ignore the fact that there are solicitors that are "over-protective" of their client. actually, there are only a few clauses in which a vendor needs to look out for (ie. the documents that are required to be furnished, the time to furnish such documents, the time to settle the purchase price, the manner how the balance purchase price is to be released to the vendor and the consequences of purchaser's breach). the rest are almost negligible.
like all the previous posters, the obvious advantage is that you save up on quite a lot of legal fees but you still need to pay for the filing of CKHT forms and attending to the redemption of the property (if applicable).