Overview of Entire Transaction

Question 1

What does the seller’s solicitor do pre-exchange?

Answer 1

• order official copies
• deduce title
• prepare contract
• provide replies to pre-contract enquiries

Question 2

What does the buyer’s solicitor do pre-exchange?

Answer 2

• raise pre-contract searches
• prepare report on title
• investigate title
• draft certificate of title
• approve contract

Question 3

What does the seller’s solicitor do pre-completion?

Answer 3

• approve draft transfer
• order redemption statement

Question 4

What does the buyer’s solicitor do pre-completion?

Answer 4

• raise requisitions on title
• submit final certificate of title
• draft transfer
• Raise OS1 search

Question 5

What does seller’s solicitor do post completion?

Answer 5

• send completion papers

Question 6

What does buyer’s solicitor do post completion?

Answer 6

• Register charge at Companies House
• Pay SDLT
• Submit Land Registry Application

Question 7

Post completion buyer’s solicitor Land Registry application forms (registered land)

Answer 7

Land Registry form AP1

• Transfer deed - TR1
• SDLT5 or WRA certificate to prove payment of SDLT/LTT
• Form DS1 to discharge seller’s mortgage
• Mortgage deed in favour of buyer’s lender
• Certificate of registration of charge at Companies House

Question 8

Post completion buyer’s solicitor Land Registry application forms (unregistered land)

Answer 8

Application for first registration
- Form FR1

Enclosures listed on a separate form DL:
- epitome of title and deeds
- Land charges searches for the seller and previous owners

Question 9

Normal sequence of key steps for buyer’s solicitor?

Answer 9

Approve draft contract; receive mortgage offer; exchange contracts; prepare draft transfer

• buyer’s solicitor needs to ensure the client’s mortgage offer is received and that the funding is in place before exchange of contracts