Once the contract is signed by both parties you have a deal in law and cannot back out without the vendors consent.

At this stage you will already have secured mortgage protection insurance and buildings insurance on the house itself.

Getting your Keys
On the agreed closing date your solicitor will hand over the cheque, collect the deeds and present you with the keys. It sounds easy but there’s a lot that can go wrong. Pitfalls to avoid include

• Make sure that funds are available on the day
  
• Arrange with the seller in advance to transfer Gas, Electricity, telephone into your name, don’t allow them to have them cut off, it’s not necessary, and will cause you delays in settling in.

• Tell the agent you want to inspect the house on the morning of the closing; this will avoid any unpleasant surprises.