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Clare, Solicitor
Category: Law
Satisfied Customers: 34885
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

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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.?
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?
Customer: replied 3 years ago.

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

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

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

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 and other Law Specialists are ready to help you