Our Question Time campaign answers common queries raised by Howard Kennedy Trainee candidates. So here's the inside scoop!
My first property sale
Transitioning from a law student to a trainee means putting theory into practice and property transactions are no exception to this. If you have not had much property experience before (other than the LPC), then going through the process for the first time can be a very daunting process. There are so many elements which require consideration, but tackling these can be both rewarding and confidence building. My first property sale was a highlight because:
1) It taught me that nothing in the real world goes to plan! Not only was it my first property transaction, but the buyer's solicitors were not in funds which meant they could not complete on time. This took me by surprise as it did not really 'follow the book.' Fortunately, the buyers did eventually complete three days later, but not without a flurry of e-mails, threats of a Notice to Complete and one quite disgruntled seller.
2) It made me think more like a solicitor. Solicitors have to think three steps ahead or more with their caseload. Property transactions are a series of deadlines. Missing one can have a knock-on effect on something else which could then have a negative impact on your client. As a first seat trainee, I found that going through the process of the sale made me more fully appreciate this - nearly all solicitors are juggling multiple deadlines with multiple clients.
Whilst not a smooth property transaction, it was definitely a good learning experience and memorable highlight. The fact it did not go quite to plan made it all the more rewarding to finalise.
Transitioning from a law student to a trainee means putting theory into practice and property transactions are no exception to this.