Team Image
Latest News
at Elliot Mather LLP

Like Us on Facebook

Follow Us on Twitter

We have specialists in many areas, make an appointment today

How long after draft contracts to exchange

One of the most common questions to a conveyancer when buying or selling a house is how long after draft contracts to exchange to tie all parties in to the transaction so that clients can book removal companies, furniture deliveries or to hand in their notices on rental properties.

Exchange of contracts is the stage where the parties become contractually obliged to complete and cannot withdraw without financial penalty.  Normally when exchange of contracts occurs, clients can breathe a sigh of relief and crack open the champagne and stop worrying about whether the matter will proceed and probably then start worrying about all the tasks they need to do to enable the big move!

A completion date (moving in day) is normally the most important date for clients and they wish to achieve as quickly as possible.

Unfortunately every case is different, some have chains (that is other parties who are buying and selling which are all linked) and some don’t. There are also a number of different factors which can influence the timing it takes to get to exchange and completion, for example, if the buyers having a mortgage, how quickly the parties take to return documents to their solicitor, how long does it take a parties solicitor to respond to enquiries or correspondence.

Generally it takes 6-8 weeks to get to the point of exchange assuming all parties are working together, however, I have personally known some solicitors to take over two weeks just to send out the initial documents to their client and it is very likely that in this situation that it’s going to be a longer journey than normal.

   


Jayde Simpson
Conveyancing Executive
Residential Property Department
Jayde.simpson@elliotmather.co.uk
01246 231288




Administrator

IT Department

Site Admin

Share:

Tags

Logo

Elliot Mather LLP maintains professional indemnity insurance in accordance with the rules of the Solicitors Regulation Authority. Details of the insurers and the territorial coverage of the policy are available for inspection at our offices.

Registered Office: St. Mary's Court, St. Mary's Gate, Chesterfield, Derbyshire, England, S41 7TD

VAT Number: 126 3019 03

Regulatory Notice: Elliot Mather LLP is a limited liability partnership. Partnership number OC321320.

Authorised and regulated by The Solicitors' Regulation Authority. To view code of conduct visit www.sra.org.uk/code-of-conduct.page

Latest Posts


Land

August 5th 2019 at 9:15am


DIY

July 31st 2019 at 9:00am