COVID-19 Customer Information
In these uncertain times, we wanted to reassure all our clients about what we are doing here at Evolve Law.
As responsible employers and business owners, we are committed to taking reasonable precautions within our control to help prevent the spread of Coronavirus while maintaining full business services. This includes reducing non-essential client and business meetings and having more staff working from home, at certain times. With our modern IT-focused business, we are confident that as a firm with several separate offices, there will be little or no disruption to our service.
There are special legal considerations, however, for clients who are entering into contracts for the sale and purchase of properties which you should be aware of;
Once you have exchanged contracts, you are contractually bound to complete on your sale/purchase on the agreed completion date. If you are unable to complete on time, whatever the reason, including Coronavirus, you will be in breach of contract.
The implications of this can range from payment of interest under the contract for late completion, or potentially the loss of the 10% deposit (for buyers), and other reasonable costs which might flow from the breach of contract.
We are hopeful that solicitors, banks, lenders and removal companies will be very much ‘business as usual’, and if there are problems, that parties will work together and take a pragmatic approach to ensure that transactions complete as quickly as possible. However, we must be alive to the possibility that we could reach a time where there are delays.
For example, in lenders releasing mortgage funds, other parties’ solicitors not being fully operational, or removal companies being short-staffed or having access issues. With co-operation, there are ways in which these issues can be resolved.
We encourage you to check with all of those involved in your conveyancing transaction, prior to the exchange of contracts, to consider the length of time that you need between exchange and completion, and to think about arrangements you could make should you or a member of your family need to self-isolate during the moving period.
At present, we anticipate that transactions will proceed as usual and there is no reason to be unduly concerned or change any plans. Still, we wanted to highlight this to you, and reassure you that we have considered the current situation, and do have procedures in place and will continue to monitor developments.
If you have concerns about the impact of Covid-19 on your conveyancing transaction, then we would encourage you to call your lawyer to discuss your options and how we can mitigate the risk to you.