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Should i have paid my deposit already?

5 replies

Jenjen9000 · 02/01/2018 19:23

Help please!
I signed the paperwork for my house purchase in November. Just over 2 weeks ago i was asked to pay the deposit and did. I have chased the solicitors up today to find out if they are ready to exchange contracts, but was told the seller hasn’t signed his paperwork yet. Should i have been asked to pay my deposit?
Am i able to ask for it to be returned to me until they are absolutely ready?

OP posts:
HandbagFan · 03/01/2018 08:52

It’s quite normal for your solicitors to hold your deposit - they need to be sure you have the money for them to be able to confirm you’re ready to exchange.

Why do you want it back?

another20 · 03/01/2018 09:01

Perfectly appropriate that deposit is with solicitor well ahead in good time - but worried that you have signed everything for exchange but the seller hasn't done so yet unless you are all in a chain and the upward chain isnt ready yet?

Jenjen9000 · 03/01/2018 15:10

There’s not a chain. I have been asking solicitor to contact the others to see when it is likely for them to sign and I haven’t had any response at all.
I would ask for the deposit back because they are accumulating interest on it and it wasnt ready to go ahead yet.

OP posts:
BreakfastAtSquiffanys · 03/01/2018 17:29

Any interest accrued whilst deposit is with solicitor is yours, not the solicitor's

another20 · 03/01/2018 21:39

I don't understand how you were in a position to sign in Nov and they, as the sellers, are not yet if there is no chain. When you signed did yo agree a completion date?

Sounds like they might be looking to buy something or dragging their feet for some other reason?

Interest is pence - would cost you more in a single bank transfer fee - so find what they are up to first. If there is no response you need to put in a deadline.

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