When all the terms between the buyer and seller have been agreed, the final contracts will be written up and then exchanged. At this point, both parties are legally bound with the sale and purchase of the property.
If you are buying
We will deal with requesting funds from your mortgage lender, complete any searches and request any outstanding balances required from you.
You will need to have your deposit ready. In most cases, the deposit will be 10% of the property purchase price. You will be required to give your buying solicitor the deposit three to five working days before exchanging contracts. If you are buying or selling this may not be required as we usually take the deposit on the sale of your property.
If you are selling
If you have an existing mortgage, we will obtain a redemption figure from your lender and create a financial statement. This will cover every aspect of the transaction process.