When Completion Doesn’t Go to Plan - A Guide for Conveyancers
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.
It is not merely a formality and holds many traps for the unwary.
In a busy conveyancing practice there are times when everything does not go according to plan. Conveyancing life is not like that and 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 live and interactive session will cover the following:
- The Law Society Code for Completion by Post 2019
- 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?
- 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
- The effect of 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 the funds are wrong. Bank of Scotland v King
- The difference between ‘actual’ and ‘contractual’ completion dates
- ‘Long stop’ completion date problems
- 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
- When the seller goes bankrupt
Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.