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Deposits?
lee12_2
Posts: 108 Forumite
Hi this might be a silly question but we're trying to cover all our questions before we put the house on the market. We are thinking of moving, last time we moved we sold, went into rented then brought because of distance we moved. But this time it will be local. Because we had sold last time and our funds where already in our bank the deposit was no problem,but this time we are not going to have any funds to pay the deposit from. So my question is what happens if we do not have the deposit for the transaction to progress, we will be cash buyers from the sell of this house as we are down sizing,and need to keep every thing in a budget as we do not want any loans/mortgages.How do people manage in this situation?
If any of you have been there we would love to hear how you got on.
Thanks
If any of you have been there we would love to hear how you got on.
Thanks
0
Comments
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I am just guessing here. But I would imagine that you use the deposit paid to you by your buyers (who are buying your house) to pay the deposit on your next place.0
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