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Diy conveyancing

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saddergran
saddergran Posts: 10 Forumite
Ninth Anniversary First Post Combo Breaker
in House buying, renting & selling
Searching google for advice on Diy just gets a Glut of ads for quotes from solicitors. I have got got most of it sussed but as a seller, who can I get to hold a 10% deposit on exchange? Is it ok to suggest the buyers conveyancer and are they likely to accept this. If not any suggestions for who could hold a deposit and be accepted by the buyer.
tia

Comments

  • onyx911
    onyx911 Posts: 108 Forumite
    Third Anniversary 10 Posts Name Dropper Combo Breaker
    I assume no mortgage involved? If that’s the case then you can ask the other solicitor to hold it. 
  • macman
    macman Posts: 53,129 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Leasehold or freehold purchase?
    No free lunch, and no free laptop ;)
  • flyd
    flyd Posts: 13 Forumite
    Fourth Anniversary 10 Posts
    Have you considered an escrow company?  At a cost, though.
  • greatcrested
    greatcrested Posts: 5,925 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Many (most?) sales currently involve simultaneous Exchange & Complettion in which case the issue does not arise.
    As asked above:
    Any current mortguage?
  • MovingForwards
    MovingForwards Posts: 17,148 Forumite
    10,000 Posts Seventh Anniversary Name Dropper Photogenic
    Exchange and complete on the same day, that solves the deposit issue.

    If the buyer is having a mortgage, DIY conveyancing may not be acceptable to their lender.
    Mortgage started 2020, aiming to clear 31/12/2029.
  • saddergran
    saddergran Posts: 10 Forumite
    Ninth Anniversary First Post Combo Breaker
    No mortgage, freehold, registered. No current mortgage. Can solicitor refuse to deal with me? Law society complaint if so. Mortgage co can refuse me a mortgage on these grounds but this does not apply.
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