• Deposit Money

    By Guest on 28th Aug 2014

    can a solicitor release deposit money before completion i.e.; as agent or stake holder ??

  • 1 Answers

    By Guest on 30/08/2014

    The contract will say whether the deposit is held as stakeholder (in which case it can't be released) or agent (it which case it can). A seller will usually only agree to to it being held as agent where the property is a new build and the deposit is insured by NHBC or a similar warranty provider. This is to stop the seller keeping the deposit then refusing to complete.

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