We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
We are buying a property and also selling ours and we are nearing the signing of contracts. Am i correct in thinking that we would sign both contracts i.e one for the purchase and one for the sale, at the same time ? and contracts also will be exchanged at the same time ? - with my theory being that our purchase obviously cannot happen without the sale of our house. Any advice greatly appreciated
It is the norm for exchange of contracts on your sale and purchase to happen simultaniously. You wouldn't necessarily sign them both on the same day but nothing is legally binding until the moment you exchange contracts. A quick call to your solicitor should put your mind at rest.
Yes both sale and purchase Contracts can be signed at the same time. Your Solicitor/Conveyancer will hold the Contracts on file until he/she is ready to exchange, i.e. everyone in the chain has agreed a definite completion date and only at that stage will he/she be able to exchange, thus making the transaction binding upon all parties.