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Review Your SQE 1 Practice Records

Examination Timing: 00H00M48S

Emily is buying a freehold property and has reached the stage of preparing for the exchange of contracts. 

What key steps must Emily and the seller complete before the exchange?

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Before the exchange of contracts, the key steps include drafting the transfer deed, ensuring that all terms are agreed upon, and both parties are ready to commit to the transaction. This step is crucial as it sets out the legal transfer of ownership from the seller to the buyer. Key Point: The preparation and drafting of the transfer deed are critical steps in property transactions, ensuring that the legal transfer of ownership is accurately documented and agreed upon by both parties.

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