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Should i have paid my deposit already

J

Jenjen9000

New Member
Help please!
I signed the paperwork for my house purchase in November. Just over 2 weeks ago i was asked to pay the deposit and did. I have chased the solicitors up today to find out if they are ready to exchange contracts, but was told the seller hasn’t signed his paperwork yet. Should i have been asked to pay my deposit?
Am i able to ask for it to be returned to me until they are absolutely ready?
 
L

Longterminvestor

Administrator
I think your deposit will currently be held in an escrow type account until the deal has been signed? If everything is done correctly I dont think you should have any worries although no harm in asking your solicitors what is going on and where you stand.
 
N

nmb

Well-Known Member
If you are using the services of a reliable solicitor then the deposit should be held in some kind of escrow account just in case the deal falls through. However, as suggested above, I would investigate why the deal seems to be stalling.
 
D

diyhelp

Active Member
I would not be overly concerned as long as you are using a reputable solicitor. They have various regulations by which they must abide. However, I agree in checking why the delay.
 
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