Interview Flashcards
What are the SSC? Why do you use them?
The SSC is a tool used by solicitors that simplifies the missives process by giving us a fallback framework. They set out the main clauses to be included in a contract of sale, and then we use a qualified acceptance to change any of these provisions if either the seller or purchaser want to put in a specific instructions in terms of the property.
What does Clause 1 of the SSC pertain to?
Fixtures, Fittings & Contents - these would have to be amended if the purchaser/ seller wanted to keep/remove anything
When is Ethel’s date of entry?
1st March 2025
What is meant by “the moveables in the Seller’s sales particulars”?
Moveable property in this case means property that can be physically taken from the property. For example furniture and appliances such as washing machines. So, any of the property specified in the sales particulars must be left in the property but the Seller.
Is a verbal acceptance enough to create a legally binding contract?
No - written acceptance is required
When must Ethel accept the purchasers offer?
5:00pm on the 17th January. (5 working days since the offer)
Who pays for the Home Report?
The Seller pays for the Home Report.
How much is Mr Nelson purchasing 2 Smith Street, Auchenbogle for?
£275,000
When is Mr Nelson’s date of entry?
25th March 2025
What does Clause 4 of the SSC pertain to?
Central heating, systems and appliances - basically everything needs to be in working order. If within 5 working days the Purchaser finds a defect, then the Seller will be liable to pay for this.
What does Clause 5 of the SSC pertain to?
Development - the seller has not received any intimation from neighbours or businesses near that any developments are to take place.
What does Clause 6 of the SSC pertain to?
Statutory notices - the seller has maintains that they have not received any notice from the council for repairs or other works prior to the conclusion of missives.
What does clause 8 of the SSC pertain to?
Alterations - If there has been any alterations to the property 20 years prior to date of entry then the seller is required to have the necessary documentation. This can include: Certificates of Completion, Property Inspection Report (or Letter of Comfort)
Who can carry out a Property Inspection Report?
Certified Sureveyors
What is included in the Home Report?
- Property Questionnaire
- Single Survey
- Energy Performance Certificate
Explain what the Property Questionnaire in a Home Report is
This details current ownership and has information such as the council tax band, parking arrangements, central heating and alterations made. This is completed by the seller
Explain what the Single Survey in the Home Report includes
Assesses the property’s condition. Must be carried out by a registered Surveyor and gives each part of the House a Category (between 1(no immediate repair) - 3 (urgent repairs required)).
What is an advance notice and what does it do?
It is a document we register that gives the purchaser a 35-day period of protection that safeguards their purchase. This is a safeguard against any potential inhibitions against the seller (an inhibition is something that would stop the seller from transferring ownership)
When, generally do you submit an application for an advance notice?
When missives are concluded
Who submits the advance notice?
The seller’s solicitor
What is Gazumping? And what as the solicitor are you to do in this instance?
Gazumping is when a seller (after verbal or written acceptance of an offer) wants to accept another offer for more money. In this instance, (even if verbally accepted so no legally binding contract) the solicitor should advise their client that this is against Law Society Guidance and that if they are wanting to accept the other offer the firm can no longer act for them. In the case where there has been a written acceptance, advise the client that backing out could have legal implications.
What is Gazundering? What as the solicitor should you do in this instance?
Gazundering is when a buyer (whose offer has verbally or in writing been accepted) wishes to re-negotiate the price downwards without any valid reason affecting the title. As a solicitor you would advise the client that this is against Law Society rules and that you cannot continue acting for them.
Do you have to have a closing date?
No. Even if more than one party is interested there is no requirement to have one.
If a closing date has been set, what can’t the client (and therefore the solicitor) do?
Camel the closing date and accept an offer submitted in advance. If the client does/wants to do this, then the solicitor has to stop acting.
