Completion

Question 1

What are the steps for completion by post using the Law Society Code for Completion By Post 2019?

Answer 1

1. Buyer’s solicitor sends full instructions regarding completion to seller’s solicitor
2. Buyer’s sols transfers funds to Seller’s sols who confirm receipt and redeem existing mortgage
3. Seller’s sols notify buyer’s sols once mortgage is redeemed and request to be released from their undertaking
4. Seller’s sols send TR1, deeds and any other docs to buyer’s sols within 1 working day of completion
5. both sols inform client of completion

Question 2

What are the three methods of completion?

Answer 2

In person, by agent or by post.