Before Completion Date Two questions --Am I fined and next day courier

mailsmsi

My mortgage is approved last week of July.
My solicitor will fixed the exchange date after I will return documents signed tonight.

Q1)Sellers solicitor said I will be fined if completion date not follow properly .

I will liable for all costs and expenses incurred by the seller in that if not able to complete at the specified time. This will include any removal costs, bridging finance and interest payments incurred on a related purchase.


q2) If there any courier in London which collect late or I can drop off around 2000-2100 tonight so that my solicitor will receive documents tomorrow outside london

Joy_mate

Don't know about first Q.
But for second try TNT. They deliver same day.

davidmcn

Not sure why you're in touch with the sellers' solicitor - take advice from your own about what the contract means. But yes, once exchanged then either party would be liable for penalties if they failed to comply with the contract.

As for couriers, I would think this is fairly easy, though possibly expensive (depends how far outside London they need to go!).

minimike2

Citysprint are the biggest of the same day couriers that spring to mind, but I would think in London there are probably loads.

What does YOUR solicitor have to say about the whole thing?

mailsmsi

q3) Solicitor give three forms to sign and return

Agreement
HMRC Land Transaction Return
Land Registry TR1

Most of the place one part of my name is wrong spelling.

Also agreement form my address spelling is wrong.

I just cross wrong part and write again near.

Any other suggestion ? I will write a email to about this correction to solicitor

SavingSteve

Sign your initials next to any parts that you edit by hand. Very amateur by your solicitor, who are they? Name and shame as I'd personally want to stay well clear!

mailsmsi

Related post

Middle name spelled wrong on land registry
https://forums.moneysavingexpert.com/discussion/2836148


https://www.gov.uk/government/publications/registered-titles-whole-transfer-tr1/guidance-completing-form-tr1-for-the-transfer-of-registered-property

upoiupou

mailsmsi wrote: »

My mortgage is approved last week of July.
My solicitor will fixed the exchange date after I will return documents signed tonight.

Q1)Sellers solicitor said I will be fined if completion date not follow properly .

I will liable for all costs and expenses incurred by the seller in that if not able to complete at the specified time. This will include any removal costs, bridging finance and interest payments incurred on a related purchase.

You should ask your solicitor to explain. Always ask your solicitor, if something isn't clear (before they exchange the contracts - you still have some time if you contact your solicitor straight away).

Having said that, I think this is standard. It was in my contract. You agree to the completion date and plans are made for that date. If you don't complete on that date, it will create extra costs for the seller - so you have to pay those costs. But still check with your solicitor, not me!

Do you think you might not be able to complete on the completion date? This would be unusual.

mailsmsi

q4) After completion , change lock ?

Related fourm post
https://forums.moneysavingexpert.com/discussion/5505115

SavingSteve

Haha, yes, always (and I do all doors, not just the front door)! People are weird, dont trust anyone.

mailsmsi

q5) As a new landlord do I need to inform councill ,gas and electricity as a new owner?