The Draft Contract Pack covers information such as the contract terms that have been agreed with the buyer, details from the Title Deeds and Property Information forms. The contracts will be assessed by the buyer’s solicitors to review the information provided about your property and to raise any enquiries that they may have.
You are required to complete a TA6 and a TA10 form and for this to be included in the Draft Contract Pack. From drainage and sewerage, through to planning permission, it’s all in there. These forms, as well as the rest of the Contract Pack, will be used by the buyer’s solicitor to raise enquiries.
OUR TO DO LIST
Now that the draft contract pack has been sent to the buyer’s solicitors, your time with the New Instructions Team is now complete. It is our job to prepare your file to be handed over to your Legal Team. Once your file has been allocated to your Legal Team, they will work with the buyer’s solicitor to receive their enquiries as quickly and efficiently as possible.
On average, it takes between 14-21 working days to receive the first enquiries from the buyer’s solicitor.
YOUR TO DO LIST
At this stage you are all caught up and will be notified when your file has been allocated to your Legal Team. Keep an eye out on your emails for a member of your Legal Team to introduce themselves and answer any questions that you might have.
WHAT IS INCLUDED IN THE DRAFT CONTRACT PACK?
The draft contract pack includes:
- The TA6 Form
- The TA10 Form
- The TA7 Form (Leasehold only)
- Draft transaction contracts
You can find out more about these documents in the previous guide.
Why we send the Draft Contract Pack
Your buyer’s solicitor will use the information in the draft contract pack to order the property searches and proceed with the purchase. The buyer’s solicitor will also review the draft contract pack as a whole and may raise enquiries. These enquiries could be anything from whether the extension on a property has planning permission, through to any covenants that exist on the property.
We will explain enquiries in our “Draft Contract Enquiries Received” blog.
That’s everything you need to know about the Draft Contract Pack! Now, we will allocate your file to your Legal Team. We will explain their role and what happens next in the next guide.