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Exchange Deposit
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When we sold/bought, I thought the whole deposit thing when you're in the middle of the chain was one of those things that is just understood and dealt with, until the solicitor raised it as an issue like it was something she had never come across before...
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A question on this to those who have passed the deposit up the chain, on the offer form that the EA are asking for it asks the deposit amount - what would you put here? Do you put 10% and then negotiate through your solicitor later? we are mid chain and our buyer hasn't yet mentioned deposit, but I had assumed, maybe wrongly, that they will also be passing the deposit up from the sale of their house so their deposit would probably be less that 10% of our property value.0
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Coopsy85 said:A question on this to those who have passed the deposit up the chain, on the offer form that the EA are asking for it asks the deposit amount - what would you put here? Do you put 10% and then negotiate through your solicitor later? we are mid chain and our buyer hasn't yet mentioned deposit, but I had assumed, maybe wrongly, that they will also be passing the deposit up from the sale of their house so their deposit would probably be less that 10% of our property value.
The exchange deposit is not the same thing and the EA does not really need to know about that, it's a matter for your solicitor.2024 wins: *must start comping again!*2 -
On my solicitors paperwork I just put 120k which is the equity tied up in the house, so not available at exchange. Solicitor said it would he fine and would be mentioned early in the process.Debt free Feb 2021 🎉0
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