After Reservation

Having now reserved your new Gerald Wood home, you will have paid a preliminary deposit.

Please note this deposit will not be refundable in the event of you not proceeding to an unconditional Exchange of Contracts for any reason.

When you reserved your new home, you will have been given an exchange of contracts
deadline. In order to meet this date, you will need to do the following:

• Instruct your solicitors and, if you are selling a property, tell them where your deeds are, giving them details of any loans secured against it. Your solicitor may require you to pay some costs immediately such as search fees so please be sure to ask.
• Survey fee should be paid

We can provide you with details of solicitors who have previously acted on a Gerald Wood development, who will be familiar with the documentation which may help the process run more smoothly.

We will ask you to provide details of the following to enable us to progress with your purchase:

• Your solicitor’s details, if you have one.
• Details of the estate agents who are selling your present home.

As we will be liaising with all the above, it is important you notify them of the exchange of contracts deadline so everyone is aware of the timescales involved. Your Sales Advisor will of course be on hand at all times to provide any assistance.

Although your solicitor will receive this information formally by way of an Information Sheet, we would like to confirm the following before Exchange of Contracts:

• Search - our solicitor will apply for the local authority search and forward it to your solicitor.
• The Transfer Document contains important information which your solicitors must make you aware of.
• On Exchange of Contracts, we will require a deposit, this is usually 10% of the purchase price.
• Unless your new home is already built and finished, we will not be able to give a fixed completion date on exchange of contracts.
• We will instruct our solicitor to serve the legal notice when your new home is ready.