PoppyOscar, Le Cochon and the MFW adventure

poppyoscar_3

Well the latest is that only 5% of the deposit has made it to her solicitor. She wants to exchange on that. I am really panicking now. What if they suddenly haven't got the money?

Radish72

Have they offered a lower price (this missing deposit money) or is it the rest of the deposit coming from someone else

If you exchange and it falls through is she in breach of contract or is that only when you officially sign the contracts (i.e. moving day)

What does your solicitor say

poppyoscar_3

I believe it's once you exchange. It all just seems a bit odd.

Brodiebobs

Very odd, I seem to remember when we were first time buyer we had to give the full deposit to the sols way before we exchanged, in our case it was about 3 weeks. I was very annoyed at the time about the amount of interest they were creaming off while it sat in their account!!

poppyoscar_3

They have now paid the deposit but they are now being difficult about a completion date when they are the ones in no chain! And I'm leaving sufficient furniture that they could move in with just a duvet! Looking like January 26th. I'm not holding my breath - the longer it is the longer I'll be mortgage free!

Radish72

Hooray for deposit paid :j

Can't believe it's them holding up the completion date, you would think they would be rushing to get in the house

Can only think maybe they need Jan's pay packets to settle some bills

Aless

Brodiebobs wrote: »

Very odd, I seem to remember when we were first time buyer we had to give the full deposit to the sols way before we exchanged, in our case it was about 3 weeks. I was very annoyed at the time about the amount of interest they were creaming off while it sat in their account!!

Solicitors do not and cannot earn interest on these amounts. The money sits in a special account called a client account and the interest is either repaid to the client or is given to charity. As the interest is normal so little itusually goes to charity. Whatever happened it did not go to your solicitor as extra profit. Your terms and conditions letter with your solicitor would have set the position out.

Brodiebobs

Thanks Aless, didnt know that. I did mention it to the Sol at the time and she didnt tell me that, she just said it was "one of those things" which led me to believe she did get the money!

poppyoscar_3

We have exchanged contracts!!!
We are moving on 23rd Jan!
Yayyyyyyy!

vandanfc

Great news !