Exchange of contracts

Exchange of contracts occurs when the following have been performed, confirmed and agreed:

  • Preliminary enquiries following receipt of draft contract.
  • Evidence of good title to the property.
  • Any specific issues highlighted in the lease, if applicable.
  • Local search queries.
    Fixtures and fittings to be included in the sale.
  • The buyer's mortgage offer, if applicable.

Once the contract has been signed by both parties, the deposit (usually 10% of the purchase price) will be telegraphically transferred, or paid in the form of a banker's draft, by the buyer's solicitor to your solicitor.

The completion date is then set by mutual agreement.