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Summary Property Practice - Freehold, leasehold, security of tenure

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Concentrated mindmap of all stages of the property practice for freehold purchase/selling transaction with steps for buyer's and seller's solicitor. Mindmap for leasehold purchase/selling transaction with steps for buyer's and seller's solicitor. Mindmap for the security of tenure for commercial tenants.

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Uploaded on
May 14, 2024
Number of pages
1
Written in
2023/2024
Type
Summary

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1. *Once a buyer is found, the seller's estate agent
negotiates the price. Once agreed, the agent sends a
memorandum of sale - outlining the price agreed and
information for the solicitors of the buyer and the seller.




1. Pre-Market


Buyer Solicitor Seller Solicitor


Solicitor to advise buyer to carry out a Seller to obtain
physical inspection by a surveyor and the buyer themselves. Performance Certificate an




1. Searching the local land charges register for any: financial 2. Searching the local authority for any issues on: roads, public right
charges, planning charges, listed building charges. of way, planning (esp. if buyer wants to make alterations/changes)
2. Pre-Contract


2. Local search 1. Land charges search against the
owner's (seller) full name (unregistered).
3. Drainage and Buyer solicitor
Seller solicitor
Water search

1. Upon receiving the contract package, the solicitor investigates the 1. Solicitor obtains copy of the s
title and submits pre-contract searches. If any issues, raise them HMLR (reg) or title deeds (unreg
Pre-contract searches (+PIF) with the seller's solicitor. Other solutions: insurance, indemnity. with a mortgage: solicitor asks
4. Environmental search
Solicitor to advise buyer to carry out a physical inspection by a redemption figure and provides a

surveyor and the buyer themselves. Careful of non-owning occupier. the lender to keep the original
£8.04
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