deposit question

Hi, I was hoping someone could answer my question - we are selling our house and accepted an offer a week ago - the buyers said they would be back to view again one last time & put down deposit this week, however they havent been back yet & no deposit - when does the buyer normally have to put down the deposit & should we be demanding they give us deposit to secure or are they entitled to wait a while longer - I am new to theselling process so any advice appreciated. Thanks.

The buyer usually puts down a booking deposit to show that they are keen to complete the sale. At this point, the property becomes 'sale agreed'. It is totally refundable. The sale is not secured until contracts have been signed.

I don't see how you could force the buyer to pay this booking deposit. They're entitled to wait. However, you're also entitled to continue to show the property to other prospective buyers.

i presume the buyers meant the 5k deposit to go sale agreed. if they haven't put anything down. keep ur place on the market and keep showing it. you can tell them you won't vbe going sale agreed until the put down the initial deposit.

budapest is right in that the initial deposit is refundable so they can pull out up until the pay the 10% deposit and contracts signed.

get ur estate agent to ring them and ask what the story is.