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Afew questions..

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  • Afew questions..

    Hi People..

    Just a question I need help on...

    Our house has JUST gone on the market, we have seen a house we wish to purchase. The house has been on the market for 4 months and only had 2 viewers (the owner has admitted that she if very disappointed with the EA marketing of her property). We wish to make an offer, basically is the anyway we can pay a "refundable deposit" on the property to prove to the seller that we are serious about buying there property even tho ours has just gone onto the market? and what would a sensible deposit be.

    Cheers Ant

  • #2
    Re: Afew questions..

    You would be best to discuss this with the EA, and if you are thinking of doing this make sure you involve your solicitor / conveyancer to draw up an agreement to cover things such as "Under what circumstances would the deposit be refundable?", "How long is the property reserved for you?", "What is the agreed purchase price?" etc... before the deposit funds are transferred.

    You also need to discuss what you want to achieve by leaving the deposit. Do you want the property to be removed from the market for a period of time? If so, where is the advantage to the seller to agree when you may take months to sell your own property and they could be missing out on finding a better buyer, in a better position, and with a higher offer in the meantime.

    Ask yourself this: If somebody came to buy your house and offered this as an option, would you agree??
    Property for sale in Torquay