Initial Instructions and Checks

Question 1

What 7 steps are taken on receipt of instructions for a sale?

Answer 1

1 - open a file to attach attendance note, checklist, fee estimate etc.
2 - check for conflicts
3 - send PIF and FACF to client to complete
4 - write to estate agent and request EPC if not already provided
5 - write to client to confirm instructions using standard client care letter and obtain ID for AML
6 - write to buyer’s solicitors to confirm the firm is acting and pre-contract pack will be sent soon
7 - write to any third party to thank them for referral (if applicable)

Question 2

what 6 financial aspects should be discussed with the client at the outset of a purchase

Answer 2

funding of the purchase, need for a deposit to be paid on exchange, details of firm’s fees and any disbursements, SDLT information, request money on account, any fixtures or fittings to be purchased for an extra sum

Question 3

What 9 things should be included in a client care letter?

Answer 3

1. confirmation of instructions
2. confirm compliance with client care obligations
3. who is dealing with the matter and their supervisor
4. request for client to acknowledge/accept terms
5. accompanying docs
6. terms/complaints procedure
7. estimate of fees
8. request for money on account
9. request for ID to comply with AML

Question 4

Give 6 reasons client’s identity should be checked?

Answer 4

1. compliance with MLR 2017
2. compliance with lender’s requirements
3. confirmation of ID requirements for Land Reg
4. SRA Code requirements
5. Protocol requirements
6. compliance with firm procedure

Question 5

What are the 5 stages of a typical sale under the Protocol?

Answer 5

1. taking instructions
2. pre-exchange / pre-contract enquiries
3. exchange
4. completion
5. post-completion

Question 6

What 10 steps are taken on receipt of instructions for a purchase?

Answer 6

1. give explanation of funding and the different types of joint ownership, and surveys and the need for them at an early stage (caveat emptor).
2. open correspondence file
   3,.check if there is an EPC and if there is an existing Green Deal plan
3. write initial correspondence to estate agent (if applicable)
4. write to client (cli care) and obtain ID
5. write to seller’s solicitor to confirm instruction
6. write to any third party introducer
7. carry out pre-contract searches as client requests
8. await draft contract and associated docs
9. conflict checks