Alright - so a little while ago we went sale agreed on a home here in Cork.
We just got an update by post from our solicitor after their solicitor sent a letter to him saying they we're preparing the title and subsequently the contracts.
However in the letter to us from our solicitor he says "also at this point you should bear in mind that the vendors usually look for a 10% deposit to be sent to them upon signing of the contract".
How do I go about arranging that in terms of when I start my mortgage repayments. I would have thought the day I get the keys is when the money for the house is exchanged and thus when interest begins accruing.
Lastly, I know I could just ask the solicitor but since its the weekend I wanted a chance to clear this up now.
~Thanks~
We just got an update by post from our solicitor after their solicitor sent a letter to him saying they we're preparing the title and subsequently the contracts.
However in the letter to us from our solicitor he says "also at this point you should bear in mind that the vendors usually look for a 10% deposit to be sent to them upon signing of the contract".
How do I go about arranging that in terms of when I start my mortgage repayments. I would have thought the day I get the keys is when the money for the house is exchanged and thus when interest begins accruing.
Lastly, I know I could just ask the solicitor but since its the weekend I wanted a chance to clear this up now.
~Thanks~