Idiom
exchange contracts
Meaning
To formally contract to purchase, sell or otherwise be party to a disposition of an estate in land; usually requiring the payment of a deposit by one of the parties.
Meaning adapted from Wiktionary, available under CC BY-SA 4.0.
Examples
“We exchange contracts on the house next week.”
“After the bank approved our loan, our lawyer told us we were finally ready to exchange contracts.”
“Once the solicitors confirmed that all legal searches were satisfactory, both parties met to exchange contracts and finalize the property sale.”
Examples
simple
“We exchange contracts on the house next week.”
contextual
“After the bank approved our loan, our lawyer told us we were finally ready to exchange contracts.”
complex
“Once the solicitors confirmed that all legal searches were satisfactory, both parties met to exchange contracts and finalize the property sale.”
Key words
Related idioms
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