When Completion Doesn’t Go to Plan - A Guide for Conveyancers

Introduction

Completion is the pinnacle of any conveyancing matter and although the exchange of contracts is an essential step, you cannot relax when arriving at the completion date itself.

It is not merely a formality and holds many traps for the unwary.

In a busy conveyancing practice there are times when everything does not go according to plan. Conveyancing life is not like that and from time to time the seller or buyer (or even the lender) will simply not complete - for reasons which to them might appear quite reasonable but which give you, the conveyancer, headaches.

What You Will Learn

This live and interactive session will cover the following:

• Conveyancing and COVID-19 - varying the completion date
• Advising clients on CGT potential liability on completion of sale of home where part has been used for Home Working
• Completing on more than one property purchase and Multiple Dwellings Relief - time limits - Secure Service v HMRC [2020]
• Post completion Warranty Claim - statute barred? Grifiths v Liberty Syndicate [2020]
• Your potential liability when completion doesn’t take place. Hinkel v Simmons & Simmons LLP [2021] EWHC 55 (Ch) and penalty for failing to advise as to a risky development venture which failed to pay off - SRA v DS [January 2021}
• The Law Society Code for Completion by Post 2019
• Unwittingly completing a matter for a fraudster or buying from one - what is your liability?
• Undertakings given at completion and discharge of mortgages. Release of net sale proceeds after completion - Little v Bloomsbury Law Solicitors [2019]
• Withdrawal of a mortgage offer prior to completion and other mortgage problems
• Special contract clauses in the case of completing Help to Buy Home Equity Loans
• SDLT considerations - ‘Granny Annexe’ - are you completing on one or multiple linked transactions?
• The Standard Conditions of Sale 5th Edition on Completion and can a seller be compelled to complete a sale to a party other than the Buyer? Pittack v Naviede
• The New Homes Quality Board and Code - Following on from The Consumer Code for Homebuilders and completion dates for new build properties
• Land Registry Requisitions which may follow errors at completion
• NHBC assistance if a builder fails to complete a new home
• TBAC Investments v Valmar Works [2015] EWHC 1213 (Ch) - effect of multiple errors in the drafting of a Notice to Complete
• Hakimzay v Swailes [2015] EWHC B14(Ch) - the effect of a notice making “time of the essence” and problems it might cause.
• What can go wrong if you complete too quickly (as opposed to not completing on time), exchange and complete together and the funds are wrong. Bank of Scotland v King
• British Overseas v Analytical [2015] EWCA Civ 43 - examining the difference between “actual” and “contractual” completion dates.
• Cohen v Teseo Properties [2014] EWHC 2442 Ch - a “long stop” completion date causing problems
• Agreeing to extend the completion date and its effect and enforceability - Eyestorm Ltd v Hoptonacres Homes Ltd (2007) EWCA Civ 1366 and Northstar v Maitland Brooks (2006)
• The last day of a notice to complete and acting for the buyer you send the wrong balance purchase money - Chinnock v Hocaoglu [2008]
• Kandola v Mirza Solicitors LLP [2015] - where the Seller went bankrupt so there was nobody on whom to serve a completion notice at all.

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.