Before exchange, which task is a typical part of the buyer's solicitor's work?

Before exchange, which task is a typical part of the buyer's solicitor's work?

• A. Pay stamp duty
• B. Perform post-completion tax planning
• C. Prepare draft contract pack
• D. Market the property

Answer: (C)

Preparing the draft contract pack is a typical pre-exchange task because it gives the buyer’s solicitor the crucial information about the property, title, and seller’s obligations so they can spot potential issues, raise enquiries, and negotiate any needed changes before the contract is exchanged. This pack typically includes the draft contract, title deeds, leases or ancillary papers, property information forms, notices, and any restrictions or covenants that affect the property. Paying stamp duty is handled around completion via a Stamp Duty Land Tax return to HMRC, not something the buyer’s solicitor usually completes as part of pre-exchange work. Post-completion tax planning happens after the purchase, and marketing the property is the seller’s or their agent’s job, not the buyer’s solicitor.

Preparing the draft contract pack is a typical pre-exchange task because it gives the buyer’s solicitor the crucial information about the property, title, and seller’s obligations so they can spot potential issues, raise enquiries, and negotiate any needed changes before the contract is exchanged. This pack typically includes the draft contract, title deeds, leases or ancillary papers, property information forms, notices, and any restrictions or covenants that affect the property.

Paying stamp duty is handled around completion via a Stamp Duty Land Tax return to HMRC, not something the buyer’s solicitor usually completes as part of pre-exchange work. Post-completion tax planning happens after the purchase, and marketing the property is the seller’s or their agent’s job, not the buyer’s solicitor.