: Your solicitor will review the draft to ensure the title is free from defects and raise "pre-contract enquiries" about boundaries or planning permissions.
Buying and renting property involves several key legal and financial stages, ranging from the initial offer to the formal exchange of contracts. Buying Property: The "Draft" Phase buying and renting property
If you are buying a property specifically to rent it out, current market data suggests that while sale prices rose by roughly 6.5% in 2025, rental prices increased by over 9%. Conveyancing Process Stages and Timeline : Your solicitor will review the draft to
: The draft is not legally binding. It only becomes enforceable once "exchange of contracts" occurs, at which point a completion date is fixed and the deposit is paid. Renting Out Property (Being a Landlord) Conveyancing Process Stages and Timeline : The draft
When you buy a home, the process officially kickstarts with the , prepared by the seller's solicitor and sent to yours.
: This is a preliminary version of the sale agreement. It outlines terms like the sale price, deposit (typically 10%), and which fixtures are included.