# exchange contracts

idiom

Source: https://englishreference.com/idiom/exchange-contracts
Updated: 2026-08-10

## 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.

## 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.

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