FT.com / Property & Mortgages - Property pre-contracts in pipeline
Home buyers and sellers could soon have the opportunity to sign a legally binding pre-contract when making an offer on a property as part of an industry-led move to speed up the sales process.
A group of estate agents, solicitors and conveyancers agreed last week at a private round-table event to push forward with plans to introduce contracts at the point of offer, to secure financial commitment from buyers and sellers ahead of the normal exchange of contracts.
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