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Got a question?
What is the "Exchange of
Contracts"?
What are searches for?
What about fixtures and fittings?
How long does it all take?
When are the keys passed
on?
Or e-mail
us
What
is the "Exchange of Contracts"?
The "Exchange of Contracts"
is the point of no return, when the signed contracts are officially exchanged
between the two solicitors, subject to the following:
What
are searches for?
Searches are made to find
out any important information affecting the property. For example the Local
Authority Search may reveal which roads are maintained by the local Council,
or whether any planning permission is available on the land.
What
about fixtures and fittings?
The seller of a property
has to complete a list detailing which fixtures and fittings are included
or excluded in the sale price.
How
long does it all take?
This depends on the date
the contracts are exchanged. It is difficult to say how long a sale or
purchase will take and each case is individual - it can take a matter of
days if the property is vacant and the transaction is for cash, but chains
may take longer to resolve.
When
are the keys passed on?
On completion day, the keys
(passed from seller to the estate agents) are handed over in exchange for
the purchase money. However, special arrangements can be made to suit you
- it is important to get these details agreed.