Referral Types and Definitions

Vendor Compliance

Definition

If the client is an Asset Manager, Part Exchange Sale, Solicitor e.g. Probate sale, Lender selling a repossession or similar.

When

As soon as the vendor is asked to sign your Terms of Business.

Before the property is listed For Sale.

Preparation

Tell the client that we will be calling to carry out compliance checks.

Add a note with any special instructions that will help us build rapport with the client quickly

AML

Yes

Quote

No

Purchaser Compliance

Definition

A purchaser who has already instructed a solicitor on a related sale and has paid a fee and signed terms of business.

When

As soon as the vendor is asked to sign your Terms of Business

Before the property is listed For Sale

Preparation

Tell the client that we will be calling to carry out compliance checks.

Add a note with any special instructions that will help us build rapport with the client quickly.

AML

Yes

Quote

No

Vendor New On Market

Definition

All new vendors where there is an opportunity to provide conveyancing.

When

As soon as the vendor is asked to sign your Terms of Business

Before the property is listed For Sale

Preparation

Tell the client that we will be calling to carry out compliance checks.

Warm up the client and explain that being legally prepared can help the client move 3 weeks sooner and that using Lifetime Legal and a panel solicitor will make their move smoother with less risk of problems.

Provide a note to us with the referral, tell us what the client is doing, why they are moving – anything that will help us build rapport quickly.

AML

Yes

Quote

Yes

Vendor Sold

Definition

Any vendor who has received/accepted an offer but that was not referred when first instructing

When

As soon as an offer is submitted to the vendor

Preparation

Tell the client that we will be calling to explain our services and that using Lifetime Legal and a panel solicitor will make their move smoother with less risk of problems.

Provide a note to us with the referral, tell us what the client is doing, why they are moving – anything that will help us build rapport quickly.

AML

No

Quote

Yes

Applicant

Definition

A potential purchaser that has not yet made an offer on a property

When

Only when actively viewing property

Preparation

Tell the client that it makes sense to be prepared and understand the costs of purchasing.

Explain the benefits of Mover Protection

AML

No

Quote

Yes

Purchaser Offer Made

Definition

A potential purchaser that has made an offer that has not yet been accepted

When

As soon as the offer has been made, before it has been submitted to the vendor

Preparation

Tell the offeror that we will be calling to carry out compliance checks.

Explain that Lifetime Legal offer Mover Protection which may cover up to £1850 of fees if purchase fails.

Lifetime Legal manage a panel of expert solicitors that can help their move go more quickly

If the vendor has instructed Lifetime Legal, explain how both panel solicitors will work together to move the client more quickly.

Provide a note to us with the referral, tell us what the client is doing, why they are moving – anything that will help us build rapport quickly.

AML

Yes

Quote

Yes

Purchaser Offer Accepted

Definition

A purchaser that has made an offer that has been accepted by the vendor

When

As soon as the offer has been accepted, the sooner the referral is passed the better our conversion will be.

Preparation

Tell the offeror that we will be calling to carry out compliance checks.

Explain that Lifetime Legal offer Mover Protection which may cover up to £1850 of fees if purchase fails.

Lifetime Legal manage a panel of expert solicitors that can help their move go more quickly

If the vendor has instructed Lifetime Legal, explain how both panel solicitors will work together to move the client more quickly.

Provide a note to us with the referral, tell us what the client is doing, why they are moving – anything that will help us build rapport quickly.

AML

Yes

Quote

Yes