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Thomas
Thomas, Solicitor
Category: Property Law
Satisfied Customers: 7602
Experience:  UK solicitor holding an England and Wales practising Certificate.
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I have recently withdrawn an offer on a property in writing

Resolved Question:

I have recently withdrawn an offer on a property in writing via email to both the Estate Agent and our Solicitor. My solicitor has stated that she will inform the sellers solicitor and will prepare the abortive fee information.
We also had 10% deposit on their account. We have not exchanged contracts and wanted to know is there anything else we need to do in terms of withdrawing the offer? Also, will our 10% be affected because we are choosing to withdraw our offer?
Submitted: 2 years ago.
Category: Property Law
Expert:  Thomas replied 2 years ago.
Hi
Thank you for your question and patience, I’m Tom and I’ll try to help you.
If you have not exchanged contracts then you are fine as far as the seller is concerned. They will not be able to sue you or claim any monies whatsoever from you.
Your deposit is also safe, your solicitors simply hold this on your behalf. You will have to pay your solicitors for the time they have spent working on your file but this will be a proportion of the fee that they originally quoted to you when you instructed them and – for practical reasons (ie. not having to transfer the solicitors any money) you may consider asking them to deduct it from the deposit monies and then asking for them to transfer the balance of the 10% deposit to you.
My goal is to provide you with a good service. If you feel you have received anything less, please reply back as I am happy to address follow-up issues specifically relating to your question.
Kind regards,
Tom
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