Identify a step that must be taken, in order to carry out completion by post on the purchase of The Willows.

Identify a step that must be taken, in order to carry out completion by post on the purchase of The Willows.

• A. Send balance of purchase price by bank transfer to Carlton Law LLP
• B. Exchange of contracts by post
• C. Notify the seller's solicitor of completion
• D. Prepare the transfer deed

Answer: (A)

The key action in completion by post is making sure the funds are in place for the final transfer. On completion day, the buyer must send the balance of the purchase price to the seller’s solicitor so that the funds arrive in time to complete the sale. A bank transfer to the seller’s solicitor’s client account is the secure, traceable way to do this and ensures the seller can release the keys and transfer the title. Prerequisites or related steps happen earlier or later but aren’t the action that actually completes the transaction at that moment: exchanging contracts by post is a prerequisite for completion, the transfer deed is typically prepared ahead of time, and notifying the seller’s solicitor of completion happens after the funds have been received and completion occurs.

The key action in completion by post is making sure the funds are in place for the final transfer. On completion day, the buyer must send the balance of the purchase price to the seller’s solicitor so that the funds arrive in time to complete the sale. A bank transfer to the seller’s solicitor’s client account is the secure, traceable way to do this and ensures the seller can release the keys and transfer the title.

Prerequisites or related steps happen earlier or later but aren’t the action that actually completes the transaction at that moment: exchanging contracts by post is a prerequisite for completion, the transfer deed is typically prepared ahead of time, and notifying the seller’s solicitor of completion happens after the funds have been received and completion occurs.