Both the Seller and the Buyer sign identical contracts. Exchange of contracts takes place when the contract signed by the Buyer. This is dealt with by the Conveyancers/Solicitors acting for the parties.

When contracts are exchanged, the sale/purchase is legally binding on both the Seller and the Buyer.
The agreed completion date is written in to the contract and we inform you.

Often clients arrange the purchase/sale date before instructing us and are disappointed if we are unable to keep it. The circumstances change with each case and must be assessed individually.

• Are you the purchaser also selling and what is the full situation down the chain of transactions?
• Similarly is the owner selling to you also buying and what is the position up the same chain?
• Is the property to be purchased empty and unoccupied?
• Is yours a cash purchase?

There are a number of legal factors that can cause delay in reaching the exchange of contracts stage that in turn will delay the purchase date.

EXAMPLES

• The general legal procedure for agreeing the contract and/or lease terms.
• The mortgage application and mortgage conditions that may have to be cleared.
• Obtaining clear local and, perhaps, other searches.