Exchange and Completion of Contracts
The legalities of buying your home is an important step.
Exchange of Contracts
Okay, so you’re paying for a solicitor/lawyer to work on your behalf. But you should still know a little about the two most significant stages in the buying process. Exchange of contracts.
This is the point where your agreement to buy your new home becomes legally binding, and you pay the deposit. You need to be aware of how important it is.
Legal Completion
Although you’ve made a firm agreement to buy your new home, it’s not yours till you’ve paid for it. But not necessarily with your own money. You are free to secure a home mortgage.
Legal completion is the point where your solicitor/lawyer transfers money from you or your mortgage provider to DCANS Properties' account, and in turn receives the title deeds for your home. The deeds are usually held by the mortgage provider (if you're paying via a home mortgage).