Q. What do you do when you exchange contracts?
A. After the contracts have been signed and all the parties are ready,
we telephone the buyers/sellers solicitors and exchange contracts. This is done using a specific Formula under
Law Society Guidelines and all solicitors exchange contracts in the same way. Once contracts have been
exchanged the transaction is legally
Q. Do I need to attend the office when I exchange contracts?
A. No. Although we obviously have to seek your consent before exchanging, we do
not need you to attend the office for exchange of contracts or on completion day.
is the affect of exchanging contracts?
A. Exchanging contracts means that the
transaction is legally binding for both
parties. This means that if you back out of the
contract at this stage you could
be sued by the other party.