Exchange of contracts

Exchange of contracts

When the buyer and seller are happy with the contents of the sale and purchase contract, they each sign a copy of it and their solicitor will take the formal steps required to exchange contracts. Once contracts are exchanged, the agreement to sell and buy is legally binding and neither party can pull out without being liable for payment of compensation. A buyer will pay the seller a deposit (usually 10 per cent of the purchase price of the property) at exchange of contracts.  This is also when the completion date, or your moving date, is fixed.

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"As your entire service was excellent, it is not possible to single out anything special to mention."

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"A big firm with a local touch!"

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"Warm friendly service with clear responses to all my questions."

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"Mr Rowland was sincere, approachable, understanding and professional throughout."

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"Personal, prompt, caring and communication by email was excellent."

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"Feeling at ease knowing that they were putting my best interests first."

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