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Non refundable cash deposit to secure a property

We have put in an offer on a property that is currently 'under offer' - the agent has advised the vendor will accept our offer at a slightly higher price (do-able) BUT also with a 20,000 GBP non refundable deposit to be paid to the vendors solicitor. This seems very high?! With these 'non-refundable deposits' are there any clauses that can be drawn up to cover you should the vendor pull out? Any advice to help or point in the right direction would be greatly appreciated!!

Asked on Aug 5 2017, New Homes in Hampshire | Report content

Answers (1)

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  • Please do not pay this. This is not standard practice at all and both the agent and solicitor may actually be breaking the law. I would steer clear of this purchase and I´m sure something better will come your way.

    Answered on Aug 7 2017, Report content

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