compare cheap conveyancing quotes for oakwood property
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Conveyancing Quotation - For the sale of your property
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What happens during the ‘Exchange of Contracts’ ?
Exchange of contracts (EoC) is the point of the legal process where a binding obligation on both parties is created - for the Seller to sell and the Buyer to buy the property.
At any time up until the EoC point, either party could withdraw from the process without any penalty other than monies they have spent on surveys, mortgage application fees and similar costs....
At EoC stage a completion date is normally mutually agreed when the transfer can and will be finalised.
On the day of completion the monies are transferred between the parties and, the keys to the purchased property are handed over to the buyer.
What is Conveyancing?
Conveyancing is the term applied to the 'act of transfer of title to property from one person to another'. It is the legal process of buying and selling property.