What is the point of draft contracts?

SG27

I cant work out (and google isn't helping) the actual reason for signing draft contracts. I understand that the wording and information has to be agreed by both parties and both solicitors but why was we asked to sign it and get it witnessed if another final contract is to be drawn up anyway? Also there was notes in pencil on the contract telling us where to write and where not to. For example saying 'do not date' in the completion date section.

I'm wondering if this draft becomes the full contract? But then I have read lots of people here say that had to actually visit the solicitors to sign contracts prior to completion.

I'm sure some of you knowledgable people can clarify this for me! thanks.

terryw

In the majority of cases the "draft" will be the "final" contract. The solicitor/conveyancer requires it to be signed and undated so everything can go ahead quickly.

It is only in the unlikely event of the other parties/solicitors having some disagreement with the terms that a revised draft draft contract is issued.

G_M

As said above.

It is a draft. If either side has a problem with the contents, it will be amended. If no one has a a problem - it can be signed and become the final contrac

You will be told to leave it undated as the solicitor will add the date on Exchange - the solicitors on each side will speak to each other "Are you ready your side?" "Yes - You?" "Yes". "OK we'll agree Exchange now".

Each solicitor then dates the contract (which you've already signed) and makes a note of the date/time of the phone conversation in theit diaries.

Exchange done!

SG27

Thanks that all makes sense now! Glad we don't have to go back to sign them again.