CNK Nepal
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Conveyancing and exchanging money.
February 28th, 2009 by admin
Once the exchange of contracts has taken place between the buyer of a property and the seller of the same property, then it is now an official documentation and agreement between these two parties. Neither is able to back out at this point. If they do so, then there will be legal and definitely financial penalties imposed upon the one who backs out. Those penalties will most likely be in the form of having to pay for the other person’s legal costs. On the day of exchanging contracts, a date is agreed to transfer the money and hand over the keys. Completion is the day when the money is transferred from buyer to seller. For a competitive conveyancing fee see watermans.
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