DRAFT CONTRACT

A very important document drawn up by the seller's lawyer. Based on the information contained in the Deeds, it sets out exactly what is being sold and for how much. It also lists any special terms that have been negotiated; and it deals with what will happen if something goes wrong. The contract is drawn up in two identical parts, each of which is signed by both parties. When both sides are ready to commit themselves, the signed contracts are exchanged.