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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Property Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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I have had an offer on my property that I am selling. I intend

Resolved Question:

I have had an offer on my property that I am selling. I intend to go into renting for 6 months. I don't want to take the property off the market and 2 months later the buyer could drop out. It is prime time for me to sell my garden flat, also I am on chemotherapy so time is important. Could I ask for a deposit of £5,000? I am selling for £495,000
Submitted: 3 years ago.
Category: Property Law
Expert:  UKSolicitorJA replied 3 years ago.
Hello,Yes, you may ask the would be buyer to pay you an upfront non refundable booking fee of £5000 which may be set off against the deposit upon exchange of contracts.The deposit at exchange will be 10% of the sale price I.e. £49,500 from which the £5000 may be set off.If the buyer does not wish to go ahead with the purchase and do not exchange contracts, they lose the £5000.May I help further?
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