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Exchange of contract deposit
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Richard_Webster wrote: »The standard contract terms provide that if a "notice to complete" is served the balance of the 10% is then due and payable. A lot of solicitors vary that to say that even without such a notice the balance of the10% is payable on the completion day if you don't complete. So not only would you have to agree the 5% but also would have to get the small print of the contract altered as well. I just can't see a seller's solicitor agreeing to that.
that is interesting, I have never had that in my career, though I have thought to attempt it - but only when I felt my cleint might need to breach the contract....so being on the otherside, I would never let a buyer agree to it without strong advice to my cleints.My posts are just my opinions and are not offered as legal advice - though I consider them darn fine opinions none the less.:cool2:
My bad spelling...well I rush type these opinions on my own time, so sorry, but they are free.:o0
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