Assuming you have gone through the process and had an appropriately worded SALE AND PURCHASE AGREEMENT drafted, presented the OFFER to the Vendor and had a signed agreement returned, you will now be at the CONDITIONAL CONTRACT stage.
This means you have a fully binding agreement in respect of the purchase of the property, but that the agreement still has CONDITIONS to be met before it is UNCONDITIONAL.
For you as the Purchaser under a CONDITIONAL CONTRACT our legal team will provide you with the following services:
- Liaising with the Vendor’s Solicitor regarding the contract.
- Preparing a contact letter to you outlining the important dates and what you need to do once the agreement is unconditional.
- Assisting you in reviewing and confirming the conditions with the Vendor’s Solicitor on their due date or earlier should you request this.
As you will appreciate, often you will get the contract to this CONDITIONAL CONTRACT stage but subsequently, cancel the agreement due to not being able to satisfy a condition. If this is the case with a SALE AND PURCHASE AGREEMENT we handle for you, we will only charge you the time we have incurred and disbursements for the services we will have provided to you up to that point (excluding any separate LIM Review charge that may already have been accepted by you).