Putting down a deposit on a house - would you???

[Miltonglade]

My husband and I have found our dream house - trouble is we are yet to sell our house. We know if we don't sell our house pretty quickly this house will be snapped up. Is it possible to put down a decent deposit say 5K and ask the vendor to take it off the market for a few months? Has anyone ever done this or know of someone who has done this please?

When you say put down a deposit. Do you mean non-refundable deposit if the sale doesn't go through in the agreed timescale?

I'm not sure that's how it works. You just go in and make an offer, and they'll ask your position - which is that you still need to sell. They might not take it off the market but they might! Don't know unless you try. You don't give them a deposit until you exchange, or more likely complete!

It would be non-refundable yes - we know there is a risk there but would set a time limit. 5K may not be enough for the vendor to take it off of the market - though he does not need to sell to move he has a property lined up already.

Vendor knows we have not sold our house yet.

We know it is unconventional to do this but really really want this house!

Why on earth would the vendor take it off the market for a few months when it could be sold much quicker? That's a huge ask and not something most people would consider. Vendor doesn't need your £5k deposit when they can get full asking price from someone else now.

It's worth asking! My parents accepted a 20% deposit paid up front by their buyers when their sale fell through and agreed to give them 6 months to relist and sell their place. The buyers were very confident that their place would sell quickly, and they were right!

Just get your property on the market and let them know you are selling in order to buy theirs. We did this 2 years ago and are now sitting in our dream house 😃

Please make sure it's drawn up in a formal contract. I'm sure you will but just in case...

What % is 5k?
How much is the house?

Someone I know did exactly this recently,£5k deposit to take it off the market, however they didn’t have a house to sell, they had to wait for their vendors to buy. Done via estate agents, not something solicitors may agree with, but definitely possible. Just be careful with the timeframe set to be sure you can sell yours.