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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.
       
Important: Please note that our law-bytes are retained for archival purposes only. The law changes, and these notes are often, now, out of date. You must take direct advice on your own personal situation and the law as it currently stands.
All information on this site is in general and summary form only. The content of any page on this site may be out of date and or incomplete, and you should not not rely directly upon it. Take direct professional legal advice which reflects your own particular situation.
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Copyright and Database Rights: David Swarbrick 2012
18 October 2013 http://www.swarb.co.uk/lawb/cvrShareLoad.shtml 160 18 October 2013