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Is the Pre-Assignment Pack a necessity to complete a transaction
Keith_WONG
Posts: 1 Newbie
I am in the course of buying a flat. My solicitor informed me that he is waiting for a Pre-Assignment Pack from the seller's solicitor. This Pre-Assignment Pack offers information of my liability on forthcoming major actions being/will be initiated by the freeholder. However, the estate agent said that it is not necessary to have the Pre-Assignment Pack and asked me to go ahead with the contract. I wish to know if the Pre-Assignment is so important, like that said by my solicitor, that I have to wait for it. I am staying in a rented flat and keeping on waiting costs me a lot of money.
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Comments
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Hmmm estate agent or solicitor ... I know which one i'd take advice off?!!
In any case the EA is not working for you ... your solicitor is.0 -
The estate agent is talking rubbish. You absolutely should not enter in to a contract to purchase the property without sight of the pre-assignment pack.0
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Let's see.
The estate agent is employed by the seller, and receives his commission when the sale complete.
So what incentive does he have to persuade you to ignore this issue and proceed? And whose best interests does he have at heart?
The solicitor is employed by you, and receives his fee either in full when the sale completes, or inpart for work-to-date if the sale falls through.
So what incentive does he have to persuade you to ignore this issue and proceed? And whose best interests does he have at heart?0 -
Tell the EA to **** off and to go back to selling burgers as they have no idea what they are talking about.
The purpose of the pre assignment pack is to confirm
-that there are no outstanding debts which you will lumbered with - yes you will be
- that the building is insured
- as you say major costs
- there are no disputes or issues which you are walking into
- that any works/alterations carried out to the flat that need consent got consent
- by the reply indicate how well the property is being managed
- and many other issues and compliance matters which the LL or agent must attend toStop! Think. Read the small print. Trust nothing and assume that it is your responsibility. That way it rarely goes wrong.
Actively hunting down the person who invented the imaginary tenure, "share freehold"; if you can show me one I will produce my daughter's unicorn0
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