This transaction involved the sale of a house with land and equestrian facilities. The Land Registry title contained some anomalies, and the boundaries were unclear in places, but otherwise the sale was relatively straightforward as regards legal issues. The main difficulty was that Michael’s client, the seller, and the buyer both had different agendas as regards the timescale for exchange and completion.
Having resolved the Land Registry and other issues, Michael was able, with judicious handling, to exchange contracts at a time of his client’s choosing, satisfying his need to tie in various other matters, and without unduly antagonizing the buyer.
This case involved the purchase by Michael’s client of a large country house with several acres of land at a price in excess of £2,000,000. The seller required exchange of contracts within ten working days of receipt of papers, part of the land was the subject of overage provisions, there were some issues as regards building control, Michael’s client lived at a considerable distance, and the searches in the Home Information Pack were hopelessly out of date.
A visit to this sort of property is essential in order to establish any boundary discrepancies and other matters, and to get a “feel” for the property, and Michael carried this out at a very early stage. Having done this, it made for a much easier understanding of the paperwork, and therefore a much quicker transaction. Virtually all the correspondence between Michael and the seller’s lawyer, and with Michael’s client, was dealt with by email or fax, and all searches were carried out online. The building control issue was dealt with by means of an indemnity insurance policy paid for by the seller.
As a result, Michael was able to resolve all the problems and report to his client to enable exchange of contracts to take place within the timescale stipulated by the seller, with a completion date convenient to Michael’s client also being achieved.
Michael was instructed by a developer client in connection with the purchase of a site with planning for mixed residential and office use. Exchange of contracts was required within ten days by the seller. Title to the land consisted of seven separate Land Registry titles, each with its related documentation, and the transaction was further complicated by the fact that options affected several parts of the land. Other issues which arose related to covenants and access to the site.
By keeping in constant contact with his client, and adopting a practical and constructive approach to the complexities of the transaction, Michael was able to achieve exchange by the deadline laid down by the seller. After completion of the purchase, Michael arranged for all the titles to be amalgamated into one, making the subsequent sale of the office and houses built by his client much easier and smoother.