Stage Two: Contracts are exchanged

Once we are satisfied that everything is in order, the contracts can be exchanged. You’ll sign a copy of the contract which is passed to the seller, and the seller signs a copy of the same contract which you receive.

At this point you hand over a non-refundable deposit as security to the seller in case the contract is not carried out. This will be normally 5-10 % per cent of the purchase price, but it is usually negotiable.