Terms of business
Where is this enclosed? this practice´s terms and conditions of business which contain further important information about the way in which we shall carry out the work we do for you. If you have any queries or want to discuss any term further, please do not hesitate to contact me.
Your continuing instructions in this matter will be taken as acceptance of our fees and disbursements as detailed above and this firm’s terms of business. However, we shall be grateful if you will sign and return one copy of the letter of engagement to us (email or hard copy) as soon as possible by way of formal instructions.
If you instruct us to act not only on your behalf but also on behalf of another person or persons in relation to the same matter, for instance, husband and wife, family members or business partners, we are thereby authorised to act upon instructions received from anyone on the assumption that they have authority to give instructions on behalf of all of them. However, prior to accepting initial instructions the identity of each client must be confirmed.
In the case of companies, the instructions may come from an individual director of the company unless otherwise instructed in writing.
Unless agreed otherwise anyone or more of those instructing jointly is jointly and severally liable for costs and disbursements.
If we are acting for you on a disposal where there will be proceeds of sale, those net proceeds will be paid to you. Joint owners will be paid equally unless you tell us otherwise. Unless so notified we shall take it that only you are interested in those proceeds and there are no trusts or similar in favour of third parties.
We will not normally act for two or more clients in the same matter where an actual or potential conflict of interest exists between those clients. We may act for two or more clients in the same matter if a substantially common interest exists and we have explained the relevant issues and risks to each client, who have subsequently given informed consent to us acting for all of them and we are satisfied that it is reasonable for us to do so, it is in the best interests of all clients and we are satisfied that the benefit outweighs the risks.
In any such case no individual within the firm will act for or be responsible for the supervision of work done for more than one of the clients. Appropriate safeguards will be in place to ensure each client’s confidential information is protected. If, for any reason, we subsequently cease acting for one of the clients they will be required to pay the costs and disbursements incurred on their behalf up to that point.
Anti-Money laundering requirements
The law requires solicitors, banks, building societies and others to obtain satisfactory evidence of the identity of their client and, at times, people related to the client or their matter. This is because solicitors deal with money and property on behalf of their client which can be used by criminals wanting to launder money.
In order to comply with the requirements on money laundering, we need to obtain evidence of your identity as soon as practicable, and in any event, before we can proceed with your matter. If you intend to use private funds to fund the purchase, we will also require sufficient information and documents to support the source and wealth of funds. To collect these we use an Electronic Verification Platform which is ICO approved to keep your data secure. You will receive a separate email from us directing you to the site. Once you have completed this we reserve the right to request further information.
We are professionally and legally obliged to keep your affairs confidential. However, solicitors are required by statute to make a disclosure to the National Crime Agency where they know or suspect that a transaction may involve money laundering or terrorist financing. If we make a disclosure in relation to your matter, we may not be able to tell you that a disclosure has been made. We may have to stop working on your matter for a period of time and may not be able to tell you why.
It is a condition of your retainer with the firm, both in relation to your current instructions and any future instructions, that you assist us as far as you are able to comply with our duties under the legislation and that you agree to meet all the costs and disbursements incurred thereby. We also reserve the right to refuse to act for you, or to cease acting for you, if our Money Laundering Reporting Officer determines that we have not been provided with sufficient information to be satisfied about the integrity of a person or transaction.
If we feel that it is appropriate to report the matter to the authorities, we may have to stop work on the matter immediately. You agree to waive any losses.
You should not send any funds to us until you have provided us with evidence of your identity, nor pass our bank account details to any third party without our prior written approval. If you do, we may have to cease work.
Survey and Inspections
When purchasing a property, the burden is on the buyer to satisfy himself as to the physical condition of the property – this is the rule known as “caveat emptor” or “buyer beware”. The Seller is under no obligation to disclose certain matters that you are able to discover from reasonable inspection.
If you are obtaining a mortgage, your mortgage lender will have carried out its own valuation survey, but this will be of a basic nature and cannot be relied upon by you to reveal all defects that might exist at the property. We recommend that you commission your own survey as soon as possible in order that you should be fully aware of the condition of the property before contracts are exchanged. If you proceed to purchase this property without the benefit of a survey, then you will have no recourse against the seller should there turn out to be defects at the property.
Types of survey
Should you wish us to recommend a surveyor to you please let us know. These are independent of this company, and you would have to instruct them directly. We have no financial arrangement with these surveyors, and we recommend them due to the quality of service they provide.
Please note that if you would wish us to raise any enquires out of the survey results then you should send us a list of questions that we may pass on to the seller. Any further inspections should be arranged through the estate agents. We will deal with any legal issues arising out of the survey, but any post-survey negotiations should be brokered through the estate agents. Please note any changes to the purchase price will need to be reported to your mortgage Lender.