Completion Pitfalls - The Key Issues for Conveyancers

Introduction

The conclusion of a conveyancing matter is no mere formality - you always hope that after all the enquiries, searches and negotiations, that this final step goes according to plan. However, there are many things that can go wrong on the completion date or soon afterwards and it is timely to take a detailed look at some of the pitfalls you should seek to avoid, whether it is clients refusing to complete, difficult requisitions from the Land Registry, lender requirements or SDLT problems.

What You Will Learn

This webinar will cover the following:

• Advising clients on CGT potential liability on completion of sale of home where part has been used for ‘Home Working’
• Post completion Warranty Claim - statute barred?
• Your potential liability when completion doesn’t take place
• 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. Release of net sale proceeds after completion
• Withdrawal of a mortgage offer prior to completion and other mortgage problems
• Special considerations for Shared Ownership completions and redeeming Home Equity Loans - the scheme ended March 2023 but redemptions will continue
• SDLT considerations - ‘Granny Annexe’ - CQS and ‘Core Practice Management Standards’
• 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 New Homes Quality Board and Code - following on from The Consumer Code for Homebuilders 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
• 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
• The difference between ‘actual’ and ‘contractual’ completion dates
• Agreeing to extend the completion date and its effect and enforceability

This webinar was recorded on 12th November 2024

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