SELLER - TAKING INSTRUCTIONS

Question 1

WHAT STAGE OF THE LSCP IS USED IN THIS STAGE OF THE TRANSACTION?

Answer 1

Stage A (instructions)

Question 2

WHAT IS AN ENERGY PERFORMANCE CERTIFICATE (EPC)?

Answer 2

A certificate which gives the home an energy efficiency rating and environmental impact rating (both scaled between A (most efficient) and G (least efficient))

Question 3

WHAT PIECE OF LEGISLATION MUST AN EPC BE PROVIDED UNDER?

Answer 3

Energy Performance of Buildings (England and Wales) Regulations 2012

Question 4

WHEN MUST AN EPC BE COMMISSIONED?

Answer 4

The EPC must have been commissioned before the property is marketed, unless there is already a valid EPC which can be re-used.

Question 5

HOW LONG IS AN EPC VALID FOR?

Answer 5

10 years (and can be reused as many times as required) or until a newer EPC is produced for the same property

Question 6

WHICH PARTY HAS THE LEGAL DUTY TO MAKE THE EPC AVAILABLE?

Answer 6

It is a seller’s legal duty to make the EPC available to a prospective buyer at the earliest possible opportunity

Question 7

WHEN MUST AN EPC BE OBTAINED?

Answer 7

Within 7 days of the property being put on the market.

If the EPC is not available, the seller or estate agent has a further 21 days to obtain it and this is a deadline.

Question 8

WHAT IS THE FIXED CIVIL PENALTY CHARGE IN RESPECT OF THE EPC DUTIES?

Answer 8

£200 for non-compliance

Question 9

WHAT HAPPENS UNDER A GREEN DEAL SCHEME?

Answer 9

The homeowner would obtain a Green Deal assessment to decide whether the home would benefit from improvements and an advice report would be produced

Question 10

WHO FUNDS THE IMPROVEMENTS THAT ARE MADE UNDER A GREEN DEAL SCHEME?

Answer 10

The homeowner could either fund the improvements themselves or arrange for them to be paid for through a Green Deal finance plan

Question 11

HOW ARE GREEN DEAL REPAYMENTS PAID?

Answer 11

Green Deal repayments will be added to the electricity bill for the property - the loan remains attached to the property

Question 12

WHAT ARE THE SIX PRELIMINARY STEPS FOR THE SELLER’S SOLICITOR?

Answer 12

1. Open a file, attaching the initial instructions and noting the costs information given.
2. Write initial letters or emails
3. Write to the client, confirming the instructions in writing
4. Write to the buyer’s solicitor informing them that they are instructed and that they will send them a draft contract and associated documentation in due course.
5. Write to any third party who introduced the client to the firm.
6. Obtain the title documentation and draft the sale contract.