Once the contracts are exchanged, the buyer and the seller’s conveyancing solicitors will have to make arrangements for the completion of contract. Traditionally, this period was set as a time for investigation of title. But today, since investigation is completed much before at the pre-contract stage itself, this time is used to undertake small unfinished tasks.
The contract now contains a clause that prevents the buyer from raising further doubts after exchange of contract. But if there is sufficient reason for a clarification, the buyer can request the same. Ideally, he is allowed six working days (as per Standard Conditions 6.2.2) from the time that the matter comes to his attention. The seller is required to provide clarification of the buyer’s doubts within four working days (as per Standard Conditions 6.3.1) after receiving them from the buyer’s solicitor.
Photo courtesy: Elliott Brown