What does subject contract mean in estate agency?
If you’re in the process of buying or selling a property with an estate agent in Aylesbury, you may have come across the term “subject to contract” during negotiations. But what does it actually mean?
At WeSoldIt, in Aylesbury, “subject to contract” refers to the stage of the transaction where the parties involved have agreed in principle to the sale or purchase of a property, but have not yet signed a legally binding contract. This phrase is often used when the final details of the transaction are still being negotiated and a contract has not yet been signed.
The term “subject to contract” is used to indicate that the parties involved have not yet reached a final agreement on the sale or purchase of a property.
Until a contract has been signed, either party is free to withdraw from the transaction.
“Subject to contract” is often used when the final details of the transaction are still being negotiated, such as the price and any contingencies (e.g. a home inspection).
Once the parties have agreed on all the final details and a contract has been signed, the transaction becomes legally binding and cannot be withdrawn from by either party without facing legal consequences.
It’s important to understand the meaning of “subject to contract” when negotiating the sale or purchase of a property with an estate agent in Aylesbury, such as WeSoldIt. Be sure to seek legal advice if you have any questions or concerns about the contract process.
Our team prides itself on being customer-focused, dedicated to helping, whether you are selling or letting. We’ve got you covered. So if you’re in the Aylesbury area or surrounding villages, don’t hesitate to get in-touch. We can’t wait to work with you in 2023!
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