Drawing up a sales contract (SPA) is a complex task that requires the precision and sincerity of all contracted customers. It is therefore imperative that the seller and the buyer are attentive to any information in the document. If everything is done accordingly, a SPA can offer adequate legal protection to the seller and buyer when buying real estate. Can a lawyer act for the buyer`s seller, buyer and lender? A lawyer can only act for one party in a transaction, but can assist in the execution of documents/instruments by a party. Selling and buying is a transaction and a loan is another separate transaction. Therefore, a lawyer can act for a seller or buyer, as well as for a lender or borrower. However, the lawyer in question should consider potential conflicts of interest. Lawyers are bound by the Solicitors` Remuneration Order 1991 (SRO) and there are fees for all transmission transactions and secure banking transactions carried out by a lawyer. Lawyers cannot make discounts.
If a lawyer gives a discount on fees, they could expect disciplinary action. There are fixed fee schedules for lawyers if you hire a lawyer as a seller or buyer. (hereinafter, are for fees only and do not contain payments). 8. Solicitors Remuneration Order 2006 (click here to view or download) 9. Home sales thread Documents/information that you must provide to the buyer/buyer`s lawyers, (a) documents such as SPA, deed of assignment, deed of reallocation, deed of reallocation, deed of reallocation, deed of reallocation, reallocation, new instrument and loan document. The lawyer should also obtain from the developer a commitment not to further burden the property and, for a development project with a master`s degree, a letter of disclaimer from the holder of the master`s degree that does not confirm any right or interest in the property; (h) if the buyer borrows, receives a letter of commitment from the lender. . . .