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What to check on draft contract?

movilogo
Posts: 3,235 Forumite


My solicitor had sent me a draft contract for the house I'm buying.
It's a mid terraced 3-bed house.
I started reading it - but was put off by terse legal words.
Can anyone advise what are the main sections I need to be looking at (I shall read the entire contract anyway, but just like to know what are the most common things to be looked at).
Thanx :cool:
It's a mid terraced 3-bed house.
I started reading it - but was put off by terse legal words.

Can anyone advise what are the main sections I need to be looking at (I shall read the entire contract anyway, but just like to know what are the most common things to be looked at).
Thanx :cool:
Happiness is buying an item and then not checking its price after a month to discover it was reduced further.
0
Comments
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Are these draft contracts or the actual exhange contracts ?
anyway i've got the actual exchange contracts, the legal aspect should have been approved by your solicitor anyway check he follwing:
- Complation date if specified is suitable
- Deposit required
- Contract rate - this is the rate of intreast you will may if you fail to complete
- It will specify that you will pay the vendor compensation (Removal costs + interest on purchase price) for the days you fail to complete. Make sure this condition is vice versa i.e they have to pay you for the days they fail to complete.
- Also look at the title deeds to ensure theres no surprices (i.e Preservations orders etc)
- Make sure you agress to F&F documents etc0
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