When does the sale of the house become legally binding?
Your solicitor will arrange for you to sign a binding purchase contract. At this time your agreed deposit will need to be paid. J A Ball New Homes will also sign their copy of the contract and send it to their solicitors.
Once these contracts are exchanged the transaction becomes legally binding.
If you are selling your present home, the timing of the exchange of contracts is finely worked out. It is up to your solicitor to ensure that both sets of contracts - the sale of your existing home and the purchase of your new one - are exchanged simultaneously and a suitable moving day arranged so at no time are you 'homeless'.
Sometimes it is not possible to co-ordinate the sale of your existing property and the completion on your J A Ball New Home for the same day. If this is the case you may have to consider staying with friends or family or living in rented accommodation until your J A Ball New Home is ready.