Exchange of Contracts | Jargon Buster on Chase De Vere Mortgage Management
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Exchange of Contracts

Exchange of Contracts

In other words

The point in the purchase process when legally binding documents are exchanged. This means that the buyer commits to buying and

Definition

The point in the purchase process when legally binding documents are exchanged. This means that the buyer commits to buying and seller to selling. Buildings insurance should start from this date as cover.