Explain 'high end conveyancing@Originally Posted by drkpower
Teeheehee....
Tis a little bit more than just conveyancing. Its pretty high end complex conveyancing.
Would you be happy for any newly qualified surgeon to do your quadruple bypass or complex abdominal surgery.....?!
Would you be happy using an experienced surgeon who's last few operations ended in death?
Bet you might pick the newly qualified ones then!
I happen to know, for a fact, that NAMA has hired at least 35 solicitors in recent months. Even with that, they would have to hire HUNDREDS, to do all the work.
People should really try understand what is to happen. The Banks will not transfer all their dodgy assets to NAMA in one fell swoop. It will take YEARS. There is an absolute MOUNTAIN of conveyancing to be done. It is sensible/practical and cost efficient to outsource the work to commercial firms of Solicitors rather than hire the HUNDREDS of solicitors themselves, with the resultant pensions and entitlements. A six month contract would not suffice, as, as I said, it will take years and you would be in a position of giving permanent contracts.
"......... we must sometimes listen to those who, consumed with zeal, have scant judgment or balance. To such ones the modern world is nothing but betrayal and ruin.........We feel bound to disagree with these prophets of doom who are forever forecasting calamity -- as though the world's end were imminent."
I don't see how they didn't. It is not the job of a solicitor to price land, or to encourage people to buy it. They simply act for their clients in facilitating converyances. We know from experience that a LOT of land was bought and sold ove rthe last few years, so yeah I would say they did their job fairly well.
To live honestly, to hurt no one, to give every one his due.
NAMA could hire 500 solicitors on €80k a year and it will only come to 1/6 of the amount set aside for professional fees. Ditto with accountants and valuers. 1500 jobs created for HALF the cost set aside for fees.
The money would go to the solicitor.accountant rather than into a greedy partners hand.
Anyway there is not a MOUNTAIN of conveyancing. It is not much more work conveyancing a €400 million site in Ringsend than 1 semi detached house in Dublin.
This is just an excuse for robber barons to profit.
And your experience of commercial conveyancing comes from what exactly ?
You obviously have absolutely no idea of what a conveyance entails, particularly one encumbered to many creditors.
"......... we must sometimes listen to those who, consumed with zeal, have scant judgment or balance. To such ones the modern world is nothing but betrayal and ruin.........We feel bound to disagree with these prophets of doom who are forever forecasting calamity -- as though the world's end were imminent."
From 20 years as a tax consultant dealing with all sorts of transaction from 10,000 to €600 million. It never ceases to amaze me the charges levied by solicitors.
Whats yours?
500 solicitors at €80k a year would be more than enough.
Can you prove it isnt?
Why are you defending robbery?
Can we read somewhere about NAMA hiring 35 solicitors to work in-house? It would be nice if that was true; I remember at one time hearing the idea that NAMA could be so lean and mean, it would have 8 (eight!) solicitors farming out the work to the contracted firms.
About the absolute MOUNTAIN of conveyancing work, how does a standard loan transfer involve any conveyancing? It's not the property changing hands, but the secured loan.
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It's not your usual domestic mortgage we are talking about.
Many of the properties have varied financial creditors, institutional and otherwise. A lot of the assets being transferred have no payments being made. NAMA will be taking them from the institutions and either the developers will surrender the properties, which some will do, or Nama will use the courts to take title from the developers. There will be a HUGE amount of conveyancing and repossession to be done. The properties are security on their, unpaid, loans. There will also be the issue of NAMA enforcing personal guarantees which will presumably transfer as part of the asset.
The old chestnut of the State being, in short order, the biggest landlord in the world, will likely materialise.
As for NAMA, two solicitors of my acquaintance have been hired, and they indicate that there are 30+ more.
"......... we must sometimes listen to those who, consumed with zeal, have scant judgment or balance. To such ones the modern world is nothing but betrayal and ruin.........We feel bound to disagree with these prophets of doom who are forever forecasting calamity -- as though the world's end were imminent."
Its not as if the banks and developers will be causing any problems. I doubt we will see any developer claim his wife/son/daughter/racehorse own a part of said property and so prevent its sale.
There seems to be a few characters here that should declare their interests..are they solicitors or accounts? Coreli? Obie?
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