This article discusses the contents of the pre-contract package to be provided by the seller’s solicitor.
General principles
The seller’s solicitor should at least provide the following documents for inspection:
a) Draft contract
b) Copy of the lease
c) Evidence of title
d) An license or permission that allows assignment to the current and previous tenant
e) The insurance policy that relates to the property along with the receipt for the last premium due
f) The receipt for last rent paid and the service charge on the property.
g) If it is a management company that manages all services, the details of that company.
When the Protocol is used, the seller’s solicitor uses the terms in the same way as it would be in the case of sale of freehold. This includes providing the buyer with a PIF and an F&C as a part of the pre-contract package.
Energy Performance Certificates
With effect from 1st of October 2008, EPC’s or Energy Performance Certificates are required whenever a building is constructed, sold, or rented. However, this is not applicable to temporary buildings that are not intended to be used for less than 2 years. Sale of almost all other residential and commercial buildings requires EPC. It is also required for an assignment. The general rule here is that an EPC can be valid only for 10 years unless a new EPC is issued to replace it.
Photo courtesy: ed ouimette
