What's a 'plenary contract'

C

ConorP

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Hi,

We're in the process of buying a house. The seller has sent out contracts.My solicitor has asked are we happy to proceed.We said yes , so he ,my solicitor, said he will send 'plenary contracts' off to the seller.

Can anyone enlighten me please ?

What's a 'plenary contract'... And how far down the road of purchase are we ? ..

Kind regards and thanks as usual to all the contributors @ AAM,

CP
 
There is no such thing.

I suspect that you have misheard what the solicitor said. Perhaps its "preliminary enquiries"?

Is there a suggested closing date in the contract? There usually is.

Have you formal loan approval, have you complied with all of the lenders conditions, has the lender confirmed that all is in order and that they are able to release funds, have you had the house surveyed? If you can say yes to all of these, you can sign contarcts and close whenever legals are complete and it is convenient for you and the vendor. If no, then start getting everything sorted and work towards a closing date ( 4-8 weeks is normal) to be agreed between the parties via the solicitors.

mf
 
Hi MF ,

Thanks for the prompt response.. Maybe he did say "preliminary" but he definitely said contracts..

The loan offer from the bank is with our solicitor.. Valuation done and ready to be sent to lender.. Life assurance in place.. House insurance in place..Engineers report done and we're happy with it.. Price agreed..

Not much more we can do ourselves other than wait to be called and sign contracts.. ( I think ? Am I right here ? )

But I guess it's all waiting on the professionals now .. It took 3 weeks from the deposit been paid to getting the contracts to our solicitor..

Any advice MF

Regards and thanks,

CP
 
Get in touch with your solicitor, ask if everything is in order and if yes, arrange to call in to sign contracts and pay the balance of the deposit. Ask if there is a closing date in the contracts and if its possible to close within the next four weeks.

I generally send out a standard letter setting out the procedures, fees and time frames involved - particularly for newbies as its all so confusing. Perhaps ask your solicitor to do that?

mf
 
but he definitely said contracts

He probably said "Pre-contract enquiries" or perhaps "Pre-contract requisitions"

Or perhaps "Preliminary pre-contract enquiries" or some other variation
 
MOB , just got a letter from the solicitor saying he's sent on "Pre-contract enquiries" to the seller .. He's on hols though for the next week.. What's involved in "Pre-contract enquiries"

Regards

CP
 
Maybe this is the survey thing that you receive as a seller asking you all sorts of things about the house your are selling:
like are there any charges outstanding against it, are all the utilities paid, does it have cable TV, is there an extension on the house and has it planning permission...type of stuff.

It's a kind of questionnaire the seller fills in and returns to their solicitor.
Once the buyer's solicitor is happy with the answers then they draw up the contract. Maybe that's what they are talking about in this case.
 
Pre-contract enquiries are questions on the title to the property that your solicitor wants clarified before he will get you to sign contracts. Copy title documents are furnished with contracts. Your solicitor would have gone through these and then raised any queries he had.
 
ConorP said:
MOB , just got a letter from the solicitor saying he's sent on "Pre-contract enquiries" to the seller .. He's on hols though for the next week.. What's involved in "Pre-contract enquiries"

Regards

CP
Click to expand...

Basic questions that a buyer might want to know before signing the contract. Nothing too controversial

does it have an aerial, dish or cable? Is it mains sewerage or septic tank? Well water or public supply? that type of thing
 
Thanks MOB and all that replied. We signed contracts last night :) So I guess in about 5 weeks time we'll be sorted....

Thanks again.
 
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