Checklist before exchanging
Before exchanging a property, you should be aware of the following.
You will take on the new property in the condition you find it, including:
You will be responsible for any non-standard items, such as:
- vinyl or laminate flooring
- newel posts, banisters
- wooden panelling
- extra tiling to walls
You will become responsible for any alterations, disrepair or damage caused by the previous tenant.
Therefore, it is a good idea to visit the property a few times at different times of the day and night.
The right to withdraw from the exchange
Either tenant can withdraw from the exchange up to the point of signing for each other’s properties.