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contract exchange

mary81
mary81 Posts: 61 Forumite
in House buying, renting & selling
Hi,
I'm due to exchange contracts hopefully this week on my first house, i'm just wondering what things are actually in the contract and is there anything i should be looking for that might be a bit funny? I don't really have a clue what should be in the contracts!
sorry if it seems a totally stupid question.
Thanks!
Bacrlaycard
sept 2011 [STRIKE]£4630[/STRIKE] Oct 2011 £4030

Comments

  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Are you doing your own conveyancing or using a solicitor? If the former, given your level of knowledge, don't!
    If the latter, read the contract when your solicitor sends it to you to sign and ask anything you don't understand.

    Or just trust his expertise since that's why you are paying him.
  • Doozergirl
    Doozergirl Posts: 34,082 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You won't actually see 'the contract'. The contract is a standard document that your solicitor works from. What you will see is usually one or two pages with a list of exclusions and maybe some special conditions that alter from that standard contract, which you sign.

    What you see makes very little sense. You trust your solicitor on this one ;)
    Everything that is supposed to be in heaven is already here on earth.
  • evoke
    evoke Posts: 1,286 Forumite
    Tenth Anniversary Combo Breaker
    It's the contracts you would have read, understood, signed and returned to your solicitors for the sale of your property (if applicable) and the purchase of your next property (if applicable). LOL.
    Everyone is entitled to my opinion!
  • mary81
    mary81 Posts: 61 Forumite
    god no not doing it myself:rotfl:!! I have the knowledge of a flea with regards to the conveyancing! Using a recommended solictor who i do trust but just wondered really whether it would be some huge document i should take away and read or what! I'm not selling anything just buying.
    Bacrlaycard
    sept 2011 [STRIKE]£4630[/STRIKE] Oct 2011 £4030
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    edited 16 March 2011 at 11:31PM
    Doozergirl wrote: »
    You won't actually see 'the contract'. The contract is a standard document that your solicitor works from. What you will see is usually one or two pages with a list of exclusions and maybe some special conditions that alter from that standard contract, which you sign.
    Not according to another 'resident solicitor' here, Doozergirl.

    Just shows you have to pick and choose between reliable and dodgy advice on a forum like this!

    :T :T :T
  • Doozergirl
    Doozergirl Posts: 34,082 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 16 March 2011 at 11:31PM
    G_M wrote: »
    Not according to another 'resident solicitor' here, Doozergirl.

    Just shows you have to pick and choose between reliable and dodgy advice on a forum like this!

    :T :T :T

    Why are you showing me you trying to refer people to plusnet? Are you spamming me?!!

    I'm not a solicitor. There are Standard Conditions of Sale, which the contract you see refers to. So you sign a contract but you don't see the full terms to which it refers.
    Everything that is supposed to be in heaven is already here on earth.
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Ooops - link corrected!
  • Doozergirl
    Doozergirl Posts: 34,082 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 16 March 2011 at 11:38PM
    G_M wrote: »
    Ooops - link corrected!

    From timmyt? Are you joking?

    I really would rather do my own conveyancing. :o
    Everything that is supposed to be in heaven is already here on earth.
  • Richard_Webster
    Richard_Webster Posts: 7,646 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Doozergirl is of course right. The contract itself is just legal wording that will confuse the average person.

    The thing is that the interesting bits are generally the Land Registry entries, plan, ,and any filed Conveyance, Transfer, or Lease that contains rights and restrictions of various kinds. Those are what you will need to understand and which your solicitor should guide you through them.
    RICHARD WEBSTER

    As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.
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