• Can An Exchange Deposit Be Waived By Seller

    By Guest on 03rd Mar 2020

    Hi, I was wondering if it is possible to waive an exchange deposit?

  • 2 Answers

    By NotaryExpress on 04/03/2020

    Yes but bear in mind if using the standard Law Society contract should the buyer default they would be contractually liable for 10% of the purchase price even if the deposit was waived (depending on the terms of the waiver, i.e. if it varied the contract to say in default the buyer would not have to pay, then it would not be payable on default). Check with your conveyancer.

    www.notaryexpress.co.uk

  • By Guest on 04/03/2020

    That's great. Thank you

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