Post Completion
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Exchange Is Binding. Completion Still Needs Managing.
The exchange of contracts in property transactions is a critical milestone, marking a legal obligation but not necessarily the completion of the purchase. Conveyancers must manage risks, client communication, and funding arrangements continuously until completion. Clear responsibilities and monitoring processes are essential to address potential delays and ensure all contractual commitments are met effectively.
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Lease Extension Not Registered: A £48,957 Short Lease Warning
A client believed her lease extension had been completed. Nearly two years later, a remortgage revealed that the Land Registry application had been cancelled, leading to a £48,957.98 remedy.