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Haven’t sold in years is this a new thing?
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sill
Posts: 145 Forumite

in N. Ireland
Hope someone can help
Haven’t sold a property for years.I have found a cash buyer who wants to,purchase my property my solicitor is asking me for £400 upfront for”As we must now purchase updated searches and property certificates to give to your purchaser please forward a cheque for £400 to set against this outlay.Thesesearches will only remain valid for a period of 3 months and must be replaced in full at that time if the transaction has not completed but it’s noted that you intend to try and conclude sale within this time”
I’ve never came across this before,is it a new thing?This is a cash sale and I’m not buying as am moving into my dads to help look after my mother and I have the deeds to my property which I gave to solicitor .
TIA Sill
I’ve never came across this before,is it a new thing?This is a cash sale and I’m not buying as am moving into my dads to help look after my mother and I have the deeds to my property which I gave to solicitor .
TIA Sill
0
Comments
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I sold a property recently and had to pay a "deposit" too. It wasnt as much as 400 though, I think 250. I think it just depends on the solicitor. You should shop around but even you dont pay some money upfront you still need a solicitors service so try a few and get the best deal you can. Paying a bit upfront doesnt really matter its what you pay overallI started out with nothing......And still have most of it left:p0
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This is probably to do with the fact that it is taking much longer to complete at the moment so they are covering themselves in case the searches expire. Also in case your sale falls through. Though the fact you have the deeds and it's a cash buyer the risk seems minimal. Legal searches for my last sale were £106 and the property certificates (which I believe last six months) £120, so £400 is definitely over the top. Who is it?0
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https://forums.moneysavingexpert.com/discussion/6215544/solicitor-asking-400-upfront#latest
Duplicate thread.Mortgage started 2020, aiming to clear 31/12/2029.0
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