Buying a flat

cherry76

Do you only sign at exchange? How many times during the process of buying you need to sign any documents! My brother signed a sale contract nearly 1 yr ago and it fell through.Am surprised he was not asked to sign a new one. He did request for his files to be left open.Thanks 

UnsureAboutthis

we have only signed twice the last two times eg, exchange of contracting, which is binding (either party can't back out and if anyone does there will be costs) , and completion.

3 times I guess if you have a mortgage  - we live in england

some years ago we bought a flat where the freehold was shared by the leaseholder, can't recall if we signed sperately for the lease.

eddddy

cherry76 said:

Do you only sign at exchange? How many times during the process of buying you need to sign any documents! My brother signed a sale contract nearly 1 yr ago and it fell through.Am surprised he was not asked to sign a new one. He did request for his files to be left open.Thanks 

I'm not sure if this is what you're asking, but...

• When you are nearing the point of exchanging contracts, the buyer and seller will each be asked by their solicitors to sign a contract. Your own solicitor will then look after your signed copy.

• When everything is ready, your solicitor will ask whether you are happy to exchange contracts. If you say 'yes' the solicitor will exchange your signed copy. (You are then committed to the transaction.)

So I guess your brother signed a contract a year ago (and his solicitor was looking after that contract), but then the transaction fell through - so contracts were never exchanged.


Is your brother now buying a different property? If so, your brother's solicitor will ask him to sign another contract when he's nearing the point of exchanging contracts for this property.