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  • Deposit

    In about a month I should be exchanging contracts (fingers crossed). I am selling my existing property of £280k and downsizing to something costing £182k. I am paying the remainder of my mortgage, £30k, using the gained equity. My question is, will I be required to pay a deposit (usually 10% I believe) when we exchange. I have this money (approx £18k), but will need a little time to free it up. Alternatively, can the solicitor use some of the deposit made by my buyer, as his deposit on my property will be a lot more ?

    Thanks

  • #2
    Re: Deposit

    Your deposit that your buyer pays will be passed onto the next one so don’t worry!
    Jonathan Rolande
    Director of House Buy Fast.
    The UK's Quick House Buying Company
    01903 331 588.

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