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Exchange .. who gets deposit?

dodgy
dodgy Posts: 164 Forumite
Part of the Furniture 100 Posts Photogenic Combo Breaker
in House buying, renting & selling
Hi,

Perhaps a stupid question .. when selling a house, when you exchange, do you get the deposit immediately or is it kept by the buyers or sellers solicitors until completion?

Comments

  • princessamy86
    princessamy86 Posts: 4,889 Forumite
    No such thing as a stupid question-it is kept by solicitors until completion and then the balance is transferred over to you after fees etc have been deducted
    Scar tissue that I wish you saw, sarcastic mister know it all, close your eyes and I'll kiss you cause with the birds I'll share this lonely view.
  • dodgy
    dodgy Posts: 164 Forumite
    Part of the Furniture 100 Posts Photogenic Combo Breaker
    Super, thanks very much :-)
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    princessamy86 wrote: »
    it is kept by solicitors until completion and then the balance is transferred over to you after fees etc have been deducted

    Assuming you are using solicitors that is.
  • princessamy86
    princessamy86 Posts: 4,889 Forumite
    G_M wrote: »
    Assuming you are using solicitors that is.

    Very true!
    Scar tissue that I wish you saw, sarcastic mister know it all, close your eyes and I'll kiss you cause with the birds I'll share this lonely view.
This discussion has been closed.
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