Selling - can i request proof of deposit

kingstreet

JASS8269 wrote: »

They told us they wanted to complete on 2nd Dec

That has zero influence on what will actually happen.

My favourite solicitor won't entertain a discussion about completion dates until she has all the paperwork in place, signed and deposit in hand.

Once that is the case, the solicitors ask their clients for their preferred completion dates and each is discussed with other parties in the chain until agreement is reached on a date with which all agree.

Only then can contracts be exchanged and at that point this becomes legally binding on all parties.

If you like, the earlier you hear a date in a property transaction, the less credible it should be viewed.

JASS8269

kingstreet wrote: »

That has zero influence on what will actually happen.

My favourite solicitor won't entertain a discussion about completion dates until she has all the paperwork in place, signed and deposit in hand.

Once that is the case, the solicitors ask their clients for their preferred completion dates and each is discussed with other parties in the chain until agreement is reached on a date with which all agree.

Only then can contracts be exchanged and at that point this becomes legally binding on all parties.

If you like, the earlier you hear a date in a property transaction, the less credible it should be viewed.

Thank you - As I understand paper work has been ready for a number of weeks now, but i understand your point. Watch this space I guess

kingstreet

FWIW the EA can point to the EA Act and qualify all buyers, ensuring they have the wherewithal to "proceed to unconditional exchange of contracts."

This can include evidence of income, mortgageability and deposit.