Lead Vendor
The Lead Vendor is identified by a star displayed next to their name on the Transaction Overview page and is automatically assigned as the first Vendor added to the transaction.
Please note that the Lead Vendor cannot be changed.
If you use our conveyancing module and associated services, the Lead Vendor will have the option to request conveyancing quotes or provide the details of their chosen solicitor. They will also act as the primary point of contact throughout the conveyancing process.
If you use our Material Information module, the Lead Vendor will also be assigned the task of completing the Material Information forms for the property.
If you use our client charging module for AML checks and charge vendors, you'll have the option for the lead vendor to pay for all other parties AML checks.
Vendor Buying On
The Vendor is also buying a property, and that purchase has been linked to their sale of the property you are viewing.
Prospective Vendor
This is used for potential vendors when using our conveyancing module and associated services. It allows you to obtain conveyancing quotes without the client needing to complete their AML checks. If the client decides to proceed with the purchase, you can change their status to vendor, at which point their AML checks can be requested.
Power of Attorney (POA)
A Power of Attorney (POA) is a legal document that allows one person (the attorney) to act on behalf of another person (the donor) in relation to their financial affairs, property, or other specified matters.
Where an individual is acting under a valid Power of Attorney, the attorney may complete transactions and provide instructions on the donor's behalf, subject to the authority granted by the POA.
As part of the AML process, both the donor and the attorney need to be identified and verified.
Personal Representatives
A Personal Representative is an individual who is legally responsible for administering the estate of a deceased person. This may be an executor named in a will or an administrator appointed where no valid will exists. Personal Representatives have the authority to deal with the deceased's assets and liabilities, including the sale of property.