A contract incorporating the Standard Conditions of Sale is a formal document designed to create legal rights and legal obligations.
Many contracts for the sale of property will be made either with reference to our:
The Standard Conditions of Sale (SCS) are intended primarily for use in residential conveyancing transactions, although they may be suitable for the sale of small business premises.
The Standard Commercial Property Conditions (SCPC) are intended primarily for use in commercial transactions.
The fifth edition of the SCS took effect on 1 April 2011 and superseded the fourth edition of the SCS issued in October 2003.
The aim of the SCS is to achieve a balance between the interests of the buyer and seller.
According to the Conveyancing Handbook (27th edition), the statutory requirements normally begin with the preparation of a formal contract by the seller’s solicitor.
The contract comes into effect when contracts are exchanged.
Not all the Standard Conditions will be appropriate for use in every transaction.
Solicitors should give careful thought to the application of the conditions, and amend those that are not appropriate to the circumstances of a transaction.
As in all cases, amendments should be restricted to those that are essential to meet the circumstances of an individual case.
The Standard Conditions of Sale form can be purchased from:
