Exchange (of contracts)

At exchange, both buyer and seller officially agree that the sale of a property will take place. Signed copies of the sale contract change hands via the solicitors, and a deposit is often paid at this point by the buyer. A completion date is agreed in advance of the exchange and becomes part of the signed agreement.

Once exchange has taken place, neither side can back out (without serious legal and financial consequences) so this is the point that all uncertainty is over regarding the move.

For this reason, also it is critical that your conveyancing solicitor complete all the important legal work before you exchange.

Anxious to get your conveyancing under way? Call In-Deed's friendly team of expert advisers on 0800 038 6886, and they will help you through the next steps. In-Deed: We make the legal side simple.

To learn more about the conveyancing process, go to:

Understanding the conveyancing process

Exchanging contracts 

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