Pre Contract Pack Flashcards
Which 8 things should be included in the pre contract package?
Draft contract in duplicate / TA10 / TA6 / Official copy register entries and title plan / EPC / any docs referred to in property register / death certificate or grant for Mrs Cartwright / NHBC guarantee if property less than 10 years old
What is the legal effect of the replies given in the TA6?
They are representations so must be accurate as the buyer can claim compensation or refuse to complete if they are false
What info is covered in a TA6 PIF
Practical matters within the seller’s knowledge, boundaries, disputes and occupiers (q11).
Give 6 key points about an EPC
- allows buyers to be informed at early stage
- valid for 10 years
- identifies energy efficiency of property on scale A-G
- identifies property’s enviro impact based on CO2 emissions
- gives advice on cutting fuel bills and reducing emissions
- identifies if property is subject to Green Deal
Give 3 sources of planning information
Local Search replies (CON29 and LLC1) / replies in section 4 of TA6 / planning consents and building regulations approvals supplied in pre contract pack
Why is it important to check planning info?
Must check necessary planning consents were obtained for erection of property and any extensions and check if these contain any conditions/outstanding requirements. Enquiries need to be made before exchanging contracts to ensure there have been no planning breaches as there may be a risk of enforcement by a local planning authority. The mortgage lender will require planning matters to be checked.
If deeds are held by the client’s lender, how can they be obtained?
An undertaking will need to be given to the lender to hold the deeds to their order pending redemption of the current mortgage
Our client may be asked to provide an NHBC in the pre-contract pack. What does this cover and what stage of cover is this at?
The NHBC given on the purchase of a new build property and is valid for 10 years from the date of completion. On Walter’s sale, the NHBC guarantee and insurance policy will be in the 3rd stage of cover (years 3-10). In this stage the NHBC insures the home against specified damage or defects, such as structural damage.