Which description best represents the position before exchange for 5 Star Road?

• A. Offer received but not accepted
• B. Offer not accepted and not validated
• C. All due diligence completed; Title clear; identity checks; funds; insurance arranged
• D. Not necessary to check

Answer: (C)

Before exchanging contracts, the conveyancer should have everything lined up to show you’re ready to complete. The best description is that all due diligence is completed; the title is clear; identity checks have been carried out; funds are in place; and insurance is arranged. This combination means you’ve verified the title and any potential issues, confirmed there are no remaining enquiries or objections, complied with anti-money laundering rules, secured the funds needed to complete, and arranged insurance so the property is protected from the moment you exchange and onwards.

The other options describe earlier or incomplete stages: an offer that’s merely been received or not yet validated, or asserting that checks aren’t necessary, do not reflect the thorough readiness required before exchange.