An agreement to buy or sell property is not enforceable until written contracts have been signed and exchanged.We were bidding on a property recently. Another party had put a higher offer in on a Friday afternoon and the agent reverted to us. I told them we would think about it over the weekend and when I got back to them with a higher offer on the following Monday, he told me that the vendors had paniced and accepted the lower offer due to the current covid-19 pandemic.
The "market will go down by 20%" thesis seems to make sense in that it seems reasonable that demand will dry up in many sectors. But the unknown thing is supply - unless someone is in a forced sale situation, is there not a chance that supply dries up as well. Which makes it difficult to know if the thesis holds up.
If I was selling now, if there wasn't time pressure, I think I'd be taking it off market.
We are closing the sale of our house next week
We are closing the sale of our house next week
I presume if womble is expecting to close next week that contracts have already been signed by both parties?
Ok, thanks.A contract doesn't have to be witnessed by a solicitor, a neighbour could witness it over the fence, then return to solicitor by registered post.
Yes, I did it this way as I’m abroad.Ok, thanks.
Realistically, would a house sale ever be completed to the buyers solicitors satisfaction in this manner ?
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