I’m buying a house – what Is a Contract Pack?

When you’re buying a house, a significant part of the conveyancing process is the contract pack – but what exactly is it?

A contract pack is a set of important legal documents that enables the buyer’s solicitor to carry out the necessary checks and progress with the purchase of a property.

What’s In a Contract Pack?

These key legal documents are put together by the seller’s solicitor and sent to the buyer’s solicitor to check and approve, after an offer has been accepted on the property.

When the contract pack is issued, the conveyancing process officially begins.

Containing core details about the property and the terms of the sale, the contract pack is crucial. The buyer’s solicitor is responsible for reviewing the documents, raising enquiries, and clarifying or amending any terms where necessary.

As a guide, a contract pack will contain the following documents:

• Title documents
  The official title register and title plan confirm who legally owns the property and outlines the land that is included.
• Draft contract
  This details key information – names of buyer and seller, purchase price, property address and title number. The buyer’s solicitor must check the contract carefully to ensure the terms are fair to their client. While it may be signed early in the process, it only becomes legally binding once contracts are exchanged.
• TA6
  This Property Information Form is completed by the seller and includes details such as boundary information, building works, planning permissions, rights of way and insurance.
• TA10
  This Fixtures, Fittings and Contents Form lists all the items that are due to remain at the property after the completion date. It’s important for the buyer to check the list to make sure any items they want to be included as part of the sale are on there.
• TA7
  For leasehold properties, this Leasehold Information Form contains details on the lease terms and what’s expected of the new buyer in terms of responsibilities and restrictions, as well as service charges and building management information.
• Warranties and guarantees
  These are documents to do with the history and condition of the property, such as boiler, windows, energy efficiency improvements, etc.

Is Memorandum of Sale Included?

No, a Memorandum of Sale is not usually included in a contract pack. Rather, it is what is sent out in advance of a contract pack by the estate agent, to confirm that a property sale has been agreed between a buyer and a seller and what the transaction will entail.

Sent out before a contract pack, a Memorandum of Sale contains information including name and address of buyer and seller, purchase price, property address, and conveyancers’ details. This is sent to both solicitors and marks the start of the conveyancing process as it is the go-ahead for the contract pack.

Who Sends Out The Contract Pack?

The seller’s solicitor sends the contract pack with the buyer’s solicitor after gathering all the information from the seller and the title documents from HM Land Registry as well as any other relevant documentation to do with the property.

On average, it takes around one to two weeks to put together, depending on how quickly the seller completes all forms and the documentation is obtained.

What Happens After The Contract Pack Is Sent?

Once the contract pack is sent, the buyer’s solicitor will review the documents and check for any unusual clauses or unfair terms, as well as any missing information. The solicitor will carry out searches and if there is a mortgage lender they will conduct a valuation survey.

Once the contract pack has been agreed, the seller and buyer agree a completion date. The final version is signed and contracts exchanged, which is when the contract becomes legally binding.

The buyer’s solicitor then prepares for completion ensuring funds are in place, transferring the purchase money on the completion date, and registering ownership with HM Land Registry.

Helping You with Your Contract Pack

Our residential property specialists combine experience with a professional, approachable service to guide you through all your conveyancing needs, making the process as smooth, efficient and stress-free as possible while achieving the best possible outcome for you.

To speak to us about your contract pack as a seller or buyer of a property, you can contact us at our Chorlton office on 0161 860 7123 or email chorlton@hlfberry.com or at our Failsworth office on 0161 681 4005 or email failsworth@hlfberry.com and we will be happy to help.