- Obtain your detailed instructions either by telephone or in writing or at an initial interview.
- Consider the Memorandum of Sale and ensure that this reflects the agreement you have reached with the Seller.
- Contact your Seller’s solicitor and request the draft Contract and supporting documents.
- On receipt of the draft Contract and supporting paperwork conduct a thorough review of the same and research any case law or statutory legislation that may be necessary.
- Give careful consideration to the Lease and all Leasehold documentation in accordance with current legislation and Lender’s requirements under the CML Handbook.
- Submit local, environmental, coal, brine, water, chancel, flood or any other search that may be necessary.
- Raise detailed enquiries with the Seller’s solicitors.
- Obtain a Management Information Pack via the Seller’s solicitors from the Landlord and/or the Managing Agent in respect of Ground Rent, Service Charge and all Leasehold matters.
- Consider your mortgage offer from Lender and address any special conditions they may raise or any special requirements, for example: gifted deposit or purchase at an undervalue. • Consider replies received from the Seller's solicitors to our enquiries and seek further clarification if required.
- Consider results of various searches and raise enquires on any matters arising as appropriate with the Seller’s solicitors.
- Prepare a comprehensive report on title and the terms of the Lease and forward the same to you together with all supporting documents associated with the property.
- Advising you in respect of any post-completion requirements of the Landlord and/or the Managing Agent due under the Lease.
- Address any queries you may have on the report on title and if you are happy with the contents receive your instructions to proceed to exchange of Contracts and agree a completion date.
- Prepare a Stamp Duty Land Tax return for your approval and signature.
- Exchange Contracts with the Seller’s solicitors and agreeing a completion date.
- Carry out pre completion searches with the Land Registry.
- Prepare draft transfer and requisitions on title and send to the Seller's solicitors. Consider replies to requisitions on receipt and ensure correct undertakings have been given in relation to the discharge of any existing charge or mortgage on the Property.
- Prepare completion statement and our account and submit to you for approval and payment of any balance.
- Arrange your signature to any completion documents including any Lender’s Legal Charge.
- Prepare Certificate of Title and submit to your lender and deal with any further queries that they may raise.
- Receive lenders advance and balance (if any) from you. Organise formal completion by transmission of funds to the Seller’s solicitors. Contact the Seller’s solicitors to confirm completion, release of keys and release of documents. Report completion to you.
- Attending to submission of the Stamp Duty Land Tax return to HMRC and paying any Stamp Duty that is due.
- Attending to post-completion requirements of the Landlord and/or Managing Agents. This may include serving a Notice of Transfer and Charge, obtaining your signature to a Deed of Covenant and obtaining a Certificate of Compliance.
- Submitting application for registration of the Transfer to the Land Registry and dealing with any requisitions raised.
- Receiving the Land Registry Title Information document and checking that it is correct and then forwarding it to yourself and your lender.
Despite our efforts to ensure that our role is clear, clients sometimes make incorrect assumptions about what we are and are not going to do for them. To help avoid any such misunderstanding, we bring to your attention the fact that that we are not providing you with any advice on any of the following:
- Any tax or Revenue issues
- Property valuation advice
When necessary, we will, in consultation with you obtain such additional advice as is required from appropriately qualified third parties.
