• Diy Selling

    By Guest on 16th Sep 2014

    The purchaser's solicitor says I need not attend completion. How can I be sure the money will be transferred on the day if I have already sent them the TR1 form already signed?

  • 1 Answers

    By Guest on 21/09/2014

    They are right, you should not need to attend. When you send them the TR1 make sure you tell them that they are to hold it to your order pending release of the sale proceeds. This means that they cannot do anything with the TR1 (i.e. pass it to their client or send it to Land Registry) until completion has taken place and they have instructed their bankers to transfer the sale proceeds to you. Get their written confirmation that if you send the TR1 they will hold it on these terms and provided they are genuine solicitors or licensed conveyancers (make sure you check them out on the Law Society Find a Solicitor website/Council for Licensed Conveyancers website) then if they breach their undertaking to you, you can sue them for your loss. Breach of undertaking is treated very seriously indeed by the Solicitors Regulatory Authority and solicitors do not do it lightly.

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