• Deposit 3

    By Guest on 29th Aug 2014

    do I as a seller have to pay the buyer 10% of the purches price

  • 1 Answers

    By Guest on 30/08/2014

    No. The buyer pays you the deposit (though it will be held by your solicitor until completion). This is your protection against the buyer failing to complete after exchange. If he does fail to complete you can keep the deposit. If you fail to complete, the buyer can sue you for any losses he suffers and can ask the court to force you to complete.

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