Letter of engagement – sets out the terms of agreement between the client and their legal representative including client instruction, fees, timescales and other relevant information. Exchange of contracts – when contracts are exchanged between buyers and sellers. Legally binding and commits the parties to the property sale/purchase. If there are delays to your money being paid to the seller you may not get access to your new home when expected. These delays may incur additional charges from your removal company – check their policy in advance.
A long-stop date can be written into your contract, which permits you to withdraw from the purchase in the event of long delays to the property being finished. If it is a short period of time you may wish to find out why – for example, there may be an issue with noisy neighbours. Drawbacks – properties on busy roads, backing on to … Read MoreRead More →