Conditions |
|
|---|---|
Override |
Pre |
- |
Pre-exchange must be complete. |
4.1. Exchange contracts
When you are ready to commit your client to the purchase, this process records the details of the exchange and produces the memorandum for your file. You would action this as you make the telephone call to the seller's solicitors to perform the exchange.
Conditions |
|
|---|---|
Override |
Pre |
- |
All enquiries must have been satisfied. |
4.2. Insurance on risk
When risk passes to the buyer on exchange, this process writes or records a telephone attendance note putting the buildings (and life, if necessary) insurer on notice.
Conditions |
|
|---|---|
Override |
Pre |
- |
Exchange contracts must be complete. |
4.3. Certificate of title
After exchange, this process writes to the new lender with the Certificate of Title to request funds are made available.
Conditions |
|
|---|---|
Override |
Pre |
The client is not buying with a mortgage. |
Insurance on risk must be complete and the client is buying with a mortgage. Set in Take instructions. |
4.4. Post-exchange letters
Immediately after exchange of contracts, this process writes to the following, confirming that exchange has taken place:
The solicitors for the seller
Your client(s)
The estate agent
Conditions |
|
|---|---|
Override |
Pre |
- |
Insurance on risk must be complete. |