{"id":109012,"date":"2019-07-15T13:00:53","date_gmt":"2019-07-15T06:00:53","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/we-paid-our-deposit-but-the-sellers-are-not-ready-to-exchange\/"},"modified":"2019-07-15T13:09:07","modified_gmt":"2019-07-15T06:09:07","slug":"we-paid-our-deposit-but-the-sellers-are-not-ready-to-exchange","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/we-paid-our-deposit-but-the-sellers-are-not-ready-to-exchange\/","title":{"rendered":"We paid our deposit but the sellers are not ready to exchange"},"content":{"rendered":"


\nShould we be worried that our conveyancer has our money even though we can\u2019t yet proceed?Q I am writing to request your advice regarding the time difference between payment of our deposit and the exchange of contracts. We paid our conveyancer our deposit of 10% of the purchase price a week ago. But at the time, they said the sellers and their conveyancers were not yet ready to exchange contracts. Should we be worried? How long does one typically wait between payment of the deposit and exchange of contracts? Is it reasonable to ask our conveyancer to return our deposit and we pay them only when they are ready to exchange contracts?IRA I don\u2019t think you should be worried about paying your deposit to your conveyancer as the money will simply be sitting safely in the conveyancer\u2019s client account. It won\u2019t get paid to the seller\u2019s conveyancer until contracts have been exchanged. If that doesn\u2019t happen \u2013 because your seller pulls out of the sale or you pull out of the purchase \u2013 you\u2019ll get your money back with interest, if applicable. That\u2019s not the case if you were to pull out after contracts have been exchanged because your seller would be entitled to keep your deposit. Continue reading…
\n
\nSource : theguardian.com
\nRead more…We paid our deposit but the sellers are not ready to exchange<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Should we be worried that our conveyancer has our money even though we can\u2019t yet...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-109012","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-smg","jetpack-related-posts":[{"id":127538,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/will-my-home-sale-proceeds-be-protected-in-my-bank-account\/","url_meta":{"origin":109012,"position":0},"title":"Will my home sale proceeds be protected in my bank account?","date":"July 4, 2022","format":false,"excerpt":"\r Conveyancer will only deposit funds into one account and I may need time to divvy it up elsewhereQ I wonder if you can help me. I will shortly receive the proceeds from the sale of a second home and am concerned that the funds will not be protected when\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":47283,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-it-safe-to-pay-full-cash-amount-for-house-price-in-conveyancers-account\/","url_meta":{"origin":109012,"position":1},"title":"Is it safe to pay full cash amount for house price in conveyancer's account?","date":"March 9, 2017","format":false,"excerpt":"\r We are buying a home for \u00a3305,000 in cash and want to know if it would be better to pay directly to the seller\u2019s solicitorQ We are using a conveyancer to do our legal work when we buy a house for \u00a3305,000 in cash, but are concerned about the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1106,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-online-property-marketplace-says-goodbye-to-estate-agents\/","url_meta":{"origin":109012,"position":2},"title":"UK online property marketplace says goodbye to estate agents","date":"January 10, 2016","format":false,"excerpt":"\r \r Selling a house is a big deal \u2013 so would you approach it in the same way you\u2019d stick something on eBay?For most people the answer is \u201cno\u201d, with many choosing to enlist an estate agent when preparing for what is invariably the biggest monetary transaction of their\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":48154,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/absence-of-deposit-receipt-means-dubai-tenant-has-a-problem-with-new-landlord\/","url_meta":{"origin":109012,"position":3},"title":"Absence of deposit receipt means Dubai tenant has a problem with new landlord","date":"March 15, 2017","format":false,"excerpt":"\r In January 2017, I vacated my old premises in which I was a tenant and moved to another. I was a tenant in that apartment for five years. During that tenancy, the house was sold to a new landlord. When I vacated, I asked his real estate agent to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":49124,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mario-volpi-absence-of-deposit-receipt-means-dubai-tenant-has-a-problem-with-new-landlord\/","url_meta":{"origin":109012,"position":4},"title":"Mario Volpi: Absence of deposit receipt means Dubai tenant has a problem with new landlord","date":"March 15, 2017","format":false,"excerpt":"\r In January 2017, I vacated my old premises in which I was a tenant and moved to another. I was a tenant in that apartment for five years. During that tenancy, the house was sold to a new landlord. 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