The term 'Sale Agreed' simply means that the buyer has made a financial offer and the seller has accepted that offer.
This is usually the first step in purchasing a property. You say, "I offer your £200,000 for the property" and the buyer says, "OK, I accept."
However there is nothing contractually binding on either party to complete the sale until contracts have been exchanged.
As such the property becomes Sold Subject to Contract.
During this period both parties can walk away with no penalties and both parties can renegotiate the price (up or down).
Because it is a very insecure time for both buyer and seller it is always advisable to make sure the time between Sale Agreed and Exchange of Contracts is as short as possible and much of the book is about how you can achieve this.
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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