A Contract is a legal written agreement between the seller and the buyer outlining all of the terms of the sale and purchase of the property. Such terms include the full names of both parties and the price along with any special conditions that have been agreed with regards to the property.
It is the responsibility of the Seller’s Solicitor to draft the Contract and two copies are produced, one for each party involved in the transaction. At the start of the conveyancing process the draft Contract is sent to the Purchaser’s Solicitor for any amendments, or insertions to be made. Once the draft Contract has been approved a copy of the agreed Contract is sent to each of the respective parties for signature. The signed Contracts are then held by each Conveyancing Solicitor until both parties are ready to proceed to Exchange of Contracts.
A Contract is a legal written agreement between the seller and the buyer outlining all of the terms of the sale and purchase of the property. Such terms include the full names of both parties and the price along with any special conditions that have been agreed with regards to the property.
It is the responsibility of the Seller’s Solicitor to draft the Contract and two copies are produced, one for each party involved in the transaction. At the start of the conveyancing process the draft Contract is sent to the Purchaser’s Solicitor for any amendments, or insertions to be made. Once the draft Contract has been approved a copy of the agreed Contract is sent to each of the respective parties for signature. The signed Contracts are then held by each Conveyancing Solicitor until both parties are ready to proceed to Exchange of Contracts.