Specialist Wiltshire Conveyancing Law Firm
Your Conveyancing Solicitors will have provided you with a pre-contract report, which includes the contract. It is therefore crucial that you are fully aware of the process leading up to this.
Signing the Contract
- Once you exchange contracts with the vendor, you are legally obliged to complete the purchase. Equally, the vendor is legally obliged to complete the sale
- Signing the contract alone does not legally commit you, however you cannot be legally committed to buy unless you have signed the contract
- Your Conveyancing Solicitor will normally require a deposit from you and they will provide you with a report detailing how to pay this
- If you are selling and buying you may be able to use your buyer’s deposit to fund the deposit on your purchase
- You must tell your conveyancing lawyers the date that you would like to complete
- This must be a week day only but not a Bank Holiday
- The date must be agreed with your vendor and all other parties in the chain
- If you are selling, your buyer and any chain below them must also be consulted
- Your Solicitor will contact your vendor’s Solicitor to check agreement about proposed completion dates
- Your conveyancing lawyer requires 5-8 working days between exchange and completion to obtain mortgage funds from the lender, if appropriate. Your Solicitor must send a Certificate of Title to the lender to request the funds
- Sometimes your Solicitor can obtain the funds more quickly but this is not guaranteed
- The Conveyancing Solicitors agree to send each other the contract signed by their respective clients and you are committed from that point.
- There is no legal commitment until you exchange contracts, which is also important to consider should you need to give notice on rented accommodation, for example.
There are prescribed procedures and professional undertakings involved in the exchanging of contracts when you buy and/or sell a property.
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Our specialist conveyancing lawyers represent clients throughout Wiltshire from our offices in Salisbury and Amesbury.
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For a FREE no obligation fee quote from local Wiltshire solicitors, get in touch with us today.
- Call our property team on Salisbury (01722) 422300 and Amesbury (01980) 622922 OR
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Bonallack and Bishop, Bonallack and Bishop
Rougemont House, Queensberry House,
Rougemont Close, 5 Salisbury Street,
SP1 1LY SP4 7AW
Our Salisbury Office