Completion Headaches - The Problems Explored with Paul Tobias
Completion is the climax in any conveyancing matter and although the exchange of contracts is an essential step, you cannot relax when arriving at the completion date itself.
For the unwary, completion can hold many traps.
From time to time the seller or buyer (or even the Lender) will simply not complete - for reasons which to them might appear quite reasonable but which give you, the conveyancer, headaches.
What You Will Learn
This webinar will cover the following:
- The Law Society Conveyancing Protocol and the 2019 Code for Completion by Post
- Unwittingly completing a matter for a fraudster or buying from one- what is your liability?
- Undertakings given at completion and discharge of mortgages
- Withdrawal of a mortgage offer prior to completion and other mortgage problems.
- Special contract clauses in the case of completing Help to Buy Home Equity Loans
- SDLT considerations - ‘Granny Annexe’ - are you completing on one or multiple linked transactions?
- The Standard Conditions of Sale 5th Edition on completion and can a seller be compelled to complete a sale to a party other than the buyer? Pittack v Naviede
- The Consumer Code for Homebuilders 4th Edition and completion dates for new build properties
- Land Registry requisitions which may follow errors at completion
- NHBC assistance if a builder fails to complete a new home
- Multiple errors in the drafting of a notice to complete
- The effect of a notice making ‘time of the essence’ and problems it might cause
- What can go wrong if you complete too quickly (as opposed to not completing on time), exchange and complete together and if the funds are wrong
- The difference between ‘actual’ and ‘contractual’ completion dates
- Long-stop completion dates
- Agreeing to extend the completion date and its effect and enforceability
- The last day of a notice to complete and acting for the buyer you send the wrong balance purchase money
- Kandola v Mirza Solicitors LLP  - where the seller went bankrupt
This webinar was recorded on 7th January 2020