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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34497
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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I have sold my house and living with friends;altho paid a

Resolved Question:

I have sold my house and living with friends;altho paid a deposite of over£13000 we still cannot complete.It has been 3 months now.If I pull out will I lose my deposite for my next purchase? The seller has been held up on her purchase and is now considering pullling out as there is no sustantial reason for the hold up;the vendor simply wont release the property altho he plans to live in Spain.Where do I stand as cannot wait longer.?
Submitted: 3 years ago.
Category: Law
Expert:  Clare replied 3 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
have you actually exchanged contracts on your purchase?
Clare
Customer: replied 3 years ago.

No because we can't get a completion date,just paid the 10% deposite.

Expert:  Clare replied 3 years ago.
Hi
What makes you believe that the Deposit it non refundable?
Clare
Customer: replied 3 years ago.

I don'know-thats why I'm asking you??

Expert:  Clare replied 3 years ago.
Hi
Although you have paid the deposit to your solicitor since contacts have not yet been exchanged the money is still yours and if you chose not to go ahead with the current property then there is no financial cost involved (except your OWN wasted conveyancing costs)
However once Contracts have been exchanged then the situation changes totally
I hope that this is of assistance - please ask if you need further details
Clare
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