Moving House Glossary
Common words or phrases you will come across when moving house ..
- Chain - A number of linked property sales where exchange of contracts must take place simultaneously.
- Closing Date - The date set for submission of offers when more than one party show interest in the property.
- Completion Date - Completion of the legal transaction with all monies and documents having been distributed. This is also when the seller's solicitor will instruct the estate agent to release the keys.
- Contents Insurance - Insurance against accidental damage or theft of all moveable contents, including furniture, appliances and soft furnishings.
- Contract - A formal agreement between the buyer and the seller, usually prepared by a solicitor or licensed conveyancer, detailing the terms and conditions of the sale.
- Conveyancer - Person other than a solicitor who may conduct the conveyancing.
- Conveyancing - The legal work involved in buying and selling properties.
- Council Tax - Levied by local councils to cover the cost of local amenities and services.
- Covenant - A condition, contained within the Title Deeds or lease, that the buyer must comply with, which is usually applied to all future owners of the property. A restrictive covenant is one that prohibits the owner from doing something.