I want to purchase a second-hand property

The formal agreement for sale and purchase is usually prepared by the vendor's solicitors for the approval of the purchaser's solicitors and comes after a provisional agreement for sale and purchase in a conveyancing transaction. Like a provisional agreement, there are no standard formats for a formal agreement. The terms and conditions contained in a formal agreement are in greater detail and cover a wider range of matters than a provisional agreement, although it also incorporates the basic terms as agreed between the parties in the provisional agreement.

On or before the completion date, purchasers should make an appointment with the vendor through the estate agent for a final inspection of the property, mainly to verify the vendor's ability to deliver vacant possession of the property. After the inspection, purchasers should inform their solicitors as to whether the inspection was satisfactory.