A more recent version of these Sale And Purchase Of Freehold notes – written by Cambridge And Oxilp And College Of Law students – is available here.
The following is a more accessble plain text extract of the PDF sample above, taken from our Property Law and Practice Notes. Due to the challenges of extracting text from PDFs, it will have odd formatting:
Sale & Purchase of a Freehold Seller Take instructions:Due diligence checks on client's identity (and ensure that it is a company, etc.)Check for money laundering Prepare pre-contract package:Draft contractEvidence of seller's legal title to the propertyPre-contract search results to forewarn them of any problemsAny consents for Planning Permission/Building Regs
Buyer Take instructions:Due diligence checks on client's identity (and ensure that it is a company, etc.)Check for money laundering
Investigate title:Analyse pre-contract packageIdentify defected titelDoes seller have good title?If also acting for Lender, prepare a report on title for them at this point. Is it worth the money advanced Pre-contract searches:Note: caveat emptorThis is very importantCheck buyer's finances: does he have enough, considering deposits, fees and SDLT?
Approve draft contract:Return the contract to SsolState that you
Buy the full version of these notes or essay plans and more in our Property Law and Practice Notes.