Home & Garden

selling a house

Home & Garden

Posted by: Lynstar007

11th Nov 2011 07:58am

Just sold my house after 14 months. The suprising part for me when I signed the contract you dont get any deposit The deposit is held with the agent or solicitor and is not released to you. Thankfully we have a good friend which is going to lend us some money to go and look at our next house Otherwise, we would not be able to do a thing. I think that solicitors and agents hold on to your money in case something goes wrong and they have to give the deposit back.

Comments 2

Tylerrr23
  • 21st May 2013 04:53pm

Too true, my sally

Anonymous
  • 17th Jan 2012 10:01am

The agent holds onto your deposit until settlement,, they then take their expences form your deposit (including their agent fees, advertising etc. Once they have taken out all of their expenses, they then pass on the remaining amount onto your solicitor, who then puts it towards your next property or hands it back to you.. To be honest it works really well as you don't, have to worry about fees etc.. I can see where you think the maybe should release it straight back, but then they will have the worry if something does go wron and they need to chase a cancellation fee or agent fees

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