Like many of you we are currently processing a number of bank sales and there will be more to come down the line. The 'standard' line seems to be that all outstanding management fees will be paid from the proceeds of the sale (i.e. after completion.) The sellers solicitor has provided this assurance in writing. They typically do agree to pay the MUD act fee up front however.
Would the company still be right to refuse to complete the MUD act pre contract documentation until all fees are paid or is this generally OK?
We have had one bank pay up front by accident and one paid after as promised. But as more are coming we want to set a good precedent.
Is providing completion of these documents technically a 'service' and therefore conditional upon all service fees being paid? As the solicitor has put in writing they will pay it is that good enough?
Lastly, could they just steam ahead without a req 37 completed by us as we understand that this is only a nice thing to do and not an essential legal requirement.
Cheers all for any help/advice.
Would the company still be right to refuse to complete the MUD act pre contract documentation until all fees are paid or is this generally OK?
We have had one bank pay up front by accident and one paid after as promised. But as more are coming we want to set a good precedent.
Is providing completion of these documents technically a 'service' and therefore conditional upon all service fees being paid? As the solicitor has put in writing they will pay it is that good enough?
Lastly, could they just steam ahead without a req 37 completed by us as we understand that this is only a nice thing to do and not an essential legal requirement.
Cheers all for any help/advice.