Step 6 of Selling a House
| Contract Document Sent For Signature

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IN THIS BLOG

Your final contract will be sent to you, via 1st class post and both you and the buyer will sign identical contracts. It is important to note that signing these alone does not make the sale legally binding, the sale does however, become legally binding once contracts are exchanged. It is important that you sign your contracts in black, wet ink and that all parties sign the contract.

OUR TO DO LIST

  • Answer any questions that you have about the Contract and assist you in any way that we can.
  • Await receipt of the signed Contract from you.

YOUR TO DO LIST

  • Sign the final Contract in black, wet ink and return this to us via the post or drop the Contract into one of our offices. Please note, you and all owners of the property will need to sign and read the Contract.

When is the sale legally binding?

All parties are legally bound to the transaction once Contracts have been exchanged.

What is exchange?

Exchange is the point at which the sale becomes legally binding. We will contact your buyer’s solicitor and confirm that both copies of the Contracts are identical. Both solicitors will confirm that they are ready to exchange Contracts and exchange will take place.

We cannot exchange Contracts without all parties of the sale signing them first. The Contract will need to be signed and returned for exchange to take place.

What is completion?

Completion is the point at which ownership of the property is transferred.

How long does exchange and completion take?

Exchange and Completion times will vary from case to case. Some transactions will exchange and complete on the same day, whereas others will have a window of 1-2 weeks between exchange and completion. On average, this stage takes between 3-4 weeks.