Skip to Content

Understanding conveyancing | The Contracts

The seller must arrange for the contract to be drawn up, normally via a property solicitor, The Draft Contract will contain information gathered from the seller and other sources and will include details of the agreed price, the boundaries, any fixtures and fittings, planning restrictions, Energy Performance Certificate and so on. The contract will also state a completion date which is normally agreed in advance by the seller and buyer.

Whilst most people hate the paperwork side of things it is important to go through the contract with your conveyancing solicitor if possible but we would recommend thorough consideration as this may help you negotiate the terms of the transaction and ensure you do not receive any surprises at a later date. Around this time your conveyancer will also conduct a number of searches and checks on the property.

Exchange of contracts.

When you and the other party are satisfied that the terms of sale are correct you will both be asked to sign and exchange contract. The sale is now binding, If you are a buyer you will normally pay the solicitor a deposit which will be agreed between all parties, the buyer is now also responsible for the buildings insurance on the property.




Image Description
related news
recent articles
Flying Freehold

What is a Flying Freehold and should it matter?..

link

Neighbour Disputes | Nuisance Neighbours

Unfortunately, not everyone is respectful in life, most of the time we just move on and keep our opinion to ourselves, but when that comes to where we live you..

The legal rights of unmarried couples.

The legal rights of unmarried couples, regarding property. - In the event of the breakup of a relationship where the couple are not married what happens to the..

Your rights as a Tenant

Tenant Rights. As a tenant, one of the most important steps to protecting your tenure is to take advice before you sign any agreement, any Landlord and tenant s..

Government to introduce New Homes Ombudsman

The government announces a New Homes Ombudsman to protect consume..

link

Planning Law Solicitors

Planning Law Solicitors. Planning Law solicitors will undertake all aspects of Planning law...

Energy Performance Certificates

Energy Performance Certificates. Domestic and Commercial properties that are available to buy or rent must have an Energy Performance Certificate (EPC). What a..

Tenant safety – A landlords responsibility.

It is a legal requirement that your landlord ensures your property is safe...

Tenancy terms reviewed.

Minimum rental terms of three years could be introduced under new..

link

Appointing a Solicitor

Guide to some of the factors people use when appointing a Solicitor...

Will property conveyancing change.

The Government push to improve conveyancing...

Choosing the right mortgage rate.

Fixed Rates and Discounted Rates on a Mortgage - One of the decisions you will make concerning your property, is what type of Mortgage you should choose, short..

Image Description
Is there anything wrong with this page? - any amendments will receive accreditation - email us

Solicitors.com are not a firm of solicitors, and any content on the site should not be used in substitute for obtaining Legal advice from a solicitor regulated in the UK, Solicitors.com recommends that you contact a firm of solicitors to discuss your individual legal requirement. Whilst we strive to bring you accurate up to date content, all content on this site is not legal advice and is not guaranteed to be correct. Use of this site does not create a client relationship.

Information by area of law
Back to top