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Who is responsible for the up keep and security of a property once the contracts have exchanged?

April 26, 2017contracts exchanged Property responsible security

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Who is responsible for the up keep and security of a property once the contracts have exchanged?

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The seller still owns the property until the sale completes and therefore has responsibility and full enjoyment of it, however the buyer must insure it upon exchange of contracts, as they are now committed to purchase the property.