Earlier, investigation and deduction of title was one of the main tasks to be accomplished between exchange and completion. However, it is now a universally accepted practice that the title shall be deduced during the pre-contract stage itself. Thus, this time is now spent in completing unfinished tasks and prepare for completion. There are some important considerations which must be dealt with at the pre-completion stage. They include:
- Preparing the transfer deed;
- Redeeming the seller’s mortgage and creating the buyer’s mortgage;
- Conducting pre-completion searches for the buyer;
Checking that all financial aspects related to the transaction are in place
Photo courtesy: Dennis Jarvis
