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

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