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Category: Property Law
Satisfied Customers: 23
Experience:  Expert
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Which conveyancing formula should be used in exchange of

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Hello,Which conveyancing formula should be used in exchange of contracts where one party is self presented and the other party has a conveyancing solicitor?

Dear Client, my name is***** am a solicitor. Please be advised, that formulae involve undertakings by solicitor, that is why they are not suitable for use if one party is unrepresented. Hope this helps.

Customer: replied 8 days ago.
Does it mean that in such case it has to remain blank or should I underline 'personal exchange'? thanks

You may do the personal exchange, please ask the other party's conveyancers if they would agree. If yes, you will go to the sellers' conveyancers' office to do the exchange in person. Alternatively you could send them your copy of the contract and cheque for the deposit, and ask them to hold these to your order until you agree an exchange with them over the phone.

Customer: replied 8 days ago.
We've already exchanged contracts over the phone. They said that formula B needs to be used even though I am self presented on behalf of my limited company that sold the property to their client. What should I choose in the Contract (please see the attached screenshot in my previous message)

If they agreed to have no undertaking from you to send them the signed contract after the phone exchange, that is fine. Formula B is used when each party hold its copy of the contract. If you held your copy and the buyer held its copy, then it is formula B.

Sometimes one party's solicitors hold both parties' contracts, this is formula A. Formula C when there is a chain of transactions.

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Customer: replied 8 days ago.
Ok so in this case it's fine to use formal B, thanks!