Once you’ve made the final and necessary arrangements with your solicitor or conveyancer, your lender, and then your offer has been accepted for private treaty, or if you have the winning bid at auction, the next stage is to exchange contracts.
There will be two copies of the sale contract, one for you and one for the vendor.
You each sign a copy before they’re exchanged either by the solicitor or conveyancer or agent.
Before the exchange is complete, you will need to pay the specified deposit.
Exchanging contracts legally completes the sale of a property.
Once the deposit has been paid and the exchange complete, you’re officially a waiting home owner.
Looking to sell, buy or lease? Click here to contact John
This information is of a general nature only and does not take into account your objectives, financial situation or needs. We are not financial, legal or tax advisers. You should seek appropriate professional advice specific to you before acting on this information.
