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How long does it take to exchange and complete a house purchase? LocalSolicitors.com

How long does it take to exchange and complete a house purchase?

Good Morning. My name is Pam Rowan and I am based at Curwens in Royston. I will be happy to make an appointment to meet with you (a meeting taking about 30 minutes) in order to advise you about this. You will need to bring the Transfer Deed with you and a copy of the Title together with two forms of ID (a driving licence and Passport). After our meeting I will then prepare the letter for you to take away the same day.

I anticipate one hour's work which will be £195 plus vat which will be payable by debit or credit card at the time of the meeting.

If this is helpful and agreeable, I look forward to hearing from you. If you would prefer to email, then my email address is pamela.rowan@curwens.co.uk

Kind regards,

Pam

I need a letter on solicitors headed paper to say I have had advice about the transfer of deeds of my property. How much will it cost?

When buying a property, there are two stages that are especially important in the process but can be easily mistaken for their meaning. The sale and purchase of land must always be completed in writing and so it is important to understand the terms used in conveyancing. The following is a basic description of the difference between the terms ‘exchange’ and ‘completion’.

 * The term ‘exchange’ refers to the exchange of contracts between the seller and buyer. This is when the agreed terms of the contract become legally binding between both parties. From this point, neither party can guarantee to pull out of the contract without loss.
 * Completion refers to the date at which the terms must be fulfilled by both parties. This includes the seller ensuring that they have vacated the property, and the buyer must transfer the full money for the purchase.

There is a three-stage process for conveyancing [https://www.localsolicitors.com/conveyancing-and-property] in England and Wales, which includes pre-exchange, post-exchange and post-completion. These stages offer protection and structure for the selling and purchasing process. In the pre-exchange stage, either party is able to pull out of the sale at any time. It is not until the exchange that the buyer and seller are legally obliged to honour the terms.

What is the difference between exchange and completion?

How long does it take to exchange and complete a house purchase?

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