{"id":4471,"date":"2015-03-11T17:17:04","date_gmt":"2015-03-11T17:17:04","guid":{"rendered":"http:\/\/www.hibernianassociates.co.uk\/?p=4471"},"modified":"2016-06-30T11:02:46","modified_gmt":"2016-06-30T10:02:46","slug":"conveyancing","status":"publish","type":"post","link":"https:\/\/joyous-indigo-lizard.92-205-185-16.cpanel.site\/ha-law-new\/conveyancing\/","title":{"rendered":"Conveyancing: Frequently Asked Questions"},"content":{"rendered":"

1. How long does it take to buy or sell a property?<\/strong>
\nThis can always vary. The average time for a transaction to be completed is 6-8 weeks but in some cases, this can happen much more quickly while in others the process takes longer.<\/p>\n

2. Will a deposit have to be paid?<\/strong>
\nWhere you are purchasing a property with no related sale transaction, the contract will provide for a 10% deposit to be paid on exchange of contracts.<\/p>\n

3. What is exchange of contracts?<\/strong>
\nWhen both the buyer and the seller are ready and happy to commit themselves to the transaction, contracts are exchanged and the agreement becomes binding on the parties.<\/p>\n

4. When do you exchange contracts?<\/strong>
\nThe seller and buyers would have agreed on when to exchange the contracts. This is usually done by the solicitors on behalf of the parties once they are satisfied that all queries have been answered and all the conditions have been met.<\/p>\n

5. Can I pull out of my sale\/ the purchase?<\/strong>
\nAny party may withdraw from the transaction prior to the exchange of contracts. However, once contracts are exchanged, remedies for breach of contract would be available to the suffering party. The buyer would be able to insist on a return of their deposit or the seller would be able to keep the buyer\u2019s deposit depending on who was at fault.<\/p>\n

6. What are the most common causes of delays?<\/strong>
\nSolicitors will always endeavour to drive the transaction forward, but sometimes delays do unfortunately occur:<\/p>\n