: The draft is not legally binding. It only becomes enforceable once "exchange of contracts" occurs, at which point a completion date is fixed and the deposit is paid. Renting Out Property (Being a Landlord)
: This is a preliminary version of the sale agreement. It outlines terms like the sale price, deposit (typically 10%), and which fixtures are included. buying and renting property
If you are buying a property specifically to rent it out, current market data suggests that while sale prices rose by roughly 6.5% in 2025, rental prices increased by over 9%. Conveyancing Process Stages and Timeline : The draft is not legally binding