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Holding deposits

(4 Posts)
MadeForThis Thu 13-Oct-16 12:48:55

Hi

We have just had an offer accepted on a house. First time buyers. It's not a new build. The estate agent has just told us we need to pay them a £2500 holding deposit. House will be taken off the market. They have advised this is refundable.

Is this common place?

Purchase price is only £115000

I have no issue with paying a deposit if it guaranteed no further offers could be made on the house.

I am unsure though in case we have to walk away for any reason, survey etc?

How can I be sure that it would actually be refunded?

SquawkFish Thu 13-Oct-16 12:49:44

Get it in writing and check it out with a solicitor?

YelloDraw Thu 13-Oct-16 12:55:05

I don't really like holding deposits - I was put off offering for a flat where the EA wanted one.

Get all the details about it - e.g. will the money be held in a separate client account, how long it will take to be returned to you and when, in what cases would you loose the deposit etc.

MadeForThis Thu 13-Oct-16 13:16:48

It does seem to be standard here - Northern Ireland - another estate agent mentioned it when we were viewing a property.

I will speak to them to say we need paperwork to confirm that it is 100% refundable. Hadn't thought to ask how long they hold it. Good idea!!

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