As a general rule, no legally binding agreement comes into existence until such time as a formal legal Contract has been signed.

The vendor’s solicitors will furnish us with the contracts for sale and supporting documentation.  We will review these on your behalf.  If we are satisfied with them and that the other prerequisites are in place (satisfactory survey, loan approval etc) we will ask you to sign the contracts and pay the balance of the deposit (usually to bring it up to 10% of the purchase price).

Can I withdraw if I need to?

Provided contracts have not been signed you can normally withdraw.  After the contract is signed you generally cannot do so unless there is substantial default on the part of the seller or an event provided for in the contact arises e.g. some event on which the purchase was dependent does not happen.