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What does 'Conditional Exchange' mean?

Conditional Exchange

Where both the buyer and seller want to be more firmly tied into the deal a conditional exchange can be arranged. This is Exchange of Contracts subject to certain terms or events. At this time the buyer will need to give his solicitor funds for the deposit and should he then pull out of the purchase (unless the conditions of the exchange are not met) he will loose these funds to the seller. The conditions laid down can vary and be small items such as confirmation of planning permission for a change on the property or substantial such as the terms of a lease.

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Author of How to Really Buy a Property

I'm Tim Hill, Author of How to Really Buy a Property. I'm a property buyer, seller, landlord, tenant and I've been an agent in hundreds of transactions. I own a property portfolio across Europe but that doesn't mean I think you should to!

This book is my collective knowledge and experience that I have gained working within the property market of England and Wales for over a decade. I've written it so that you can benefit from what I have learnt whether you are a first time buyer or a budding buy-to-let investor.

There are no gimmicks here and no get rich quick schemes - just practical no nonsense advice so you can buy the property you want at the best price with the least stress.

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