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  • FIRST POST
    • adriangs
    • By adriangs 11th Oct 17, 8:36 PM
    • 1Posts
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    adriangs
    Holding deposit
    • #1
    • 11th Oct 17, 8:36 PM
    Holding deposit 11th Oct 17 at 8:36 PM
    Have had my offer accepted on a new-build flat that's actually complete and ready to move in.

    Seller wants to complete in 20 days and hence EA has recommended, to speed things along, a specific solicitor that has apparently acted for the buyers of other flats in the same building.

    Have instructed this solicitor and already paid over search fees to get things moving quickly.

    EA emails, congratulating on offer etc. and simultaneously asks for a holding deposit of £1,500 to be transferred by BACS to a sort code and account number. This request comes with no offer of a supporting contract or agreement stipulating where that money is going, where it will be held, whether it's refundable etc.

    I realise the seller wants to know I'm serious - which I am - but something seems odd about this. Quite apart from my instructing the solicitor being a clear sign that I intend to proceed (and the agent acknowledges that instruction), I'm not under obligation to pay any deposits pre-contract, especially without knowing to whom and under what circumstances, and without having search/survey results etc. back.
    Any thoughts?
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