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Sharing the Load
| This document sets out notes about what we expect to provide and receive from other professional advisers in the course of a conveyance. We do not want to try to impose these upon others, but it can help avoid misunderstandings and delays. | |
| This note is intended for professional users only. It is not an attempt to describe the conveyancing process, nor to side-step the Law Society's TransAction conveyancing protocol, which we will follow save as described in this note. | |
| Nothing in this document is a promise or undertaking. We rather describe how we expect to deal with the various issues raised. We may depart from these proposed actions as occasion requires. We are happy to discuss any questions or issues which you think may cause difficulty. |
| Before Exchange | |||
| Purchase by Us - We will: | Sale by You - Will you please: | Sale by Us - We Will: | Purchase by You - Will you please: |
| - carry out a local search | If the property is not obviously identifiable from the address, supply a plan as soon as possible. | - not normally undertake the local search. | |
| We will let you know our clients full names and address | Please let us know immediately if the title is not registered. | If the boundaries do not appear to be obviously identifiable from the address, we will supply a plan. | - if you need a plan in any event, let us know as soon as possible |
| Inform you if the deposit we expect to pay is less than 10 per cent | Normally recommend that our clients accept less than 10 Per cent | ||
| On Exchange | |||
| Purchase by Us - We will: | Sale by You - Will you please: | Sale by Us - We Will: | Purchase by You - Will you please: |
| Exchange to Completion | |||
| Purchase by Us - We will: | Sale by You - Will you please: | Sale by Us - We Will: | Purchase by You - Will you please: |
| not ask you to undertake on replies to requisitions. | specify which legal charges are revealed on our searches and in respect of which your undertaking will be required on completion | NOT undertake to discharge mortgages on replying to requisitions | Please specify which mortgages your searches reveal and for which you require an undertaking. |
| - supply a draft transfer with top copy | if you require our client to execute the transfer before completion, please ensure we know in good time | ||
| Completion | |||
| Purchase by Us - We will: | Sale by You - Will you please: | Sale by Us - We Will: | Purchase by You - Will you please: |
| We require cleared funds on the day of completion UNLESS otherwise agreed beforehand. | We will provide cleared funds on completion. | Will you please confirm receipt of funds as soon as possible after receipt. | |
| We will normally send any redemption moneys on the day of completion | |||
| We will act as your agents using the Law Society's code for completion by post. | Please specify your requirements as given under the code. | ||
| After Completion | |||
| Purchase by Us - We will: | Sale by You - Please: | Sale by Us - We Will: | Purchase by You - Please: |
| Acknowledge receipt of deeds | Arrange to discharge the mortgage on the day of completion. | ||
| Obtain any outstanding signatures and send copies to you. | Forward any DS1 as soon as received by us. | Obtain outstanding signatures and send copies to us. | |