Part payment when buying a house

T

tafad

Registered User
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I buying a house and closing is supposed to be in a weeks time, My portion of 10% that i have to pay is not yet enough, getting the rest in three weeks time. is it possible to pay what i have and the rest in three weeks time. Just wanted to know if this if possible before i speak to my solicitor.
 
If you are suggesting that the vendor will allow you to complete the purchase of the house, and not pay all the money before getting the keys, I would be very surprised if a vendor or their solicitor would allow this.
you would have no incentive to pay the rest.
I would not allow this, if a buyer suggested it.
 
Are you saying that it's meant to be closing in a week, but you haven't paid the contract deposit yet?
 
I have paid the initial deposit and i was suggesting that my solicitor releases 90 % of the money plus an additional amount i already have,leaving balance of about 10 000 that i will get end of the month. I do not necessarilly need the keys i can get these when i hand in final payment.
 
Either delay closing or try to obtain a bridging loan for the balance which shouldnt cost you too much in interest if you are sure you will have it by the end of the month. If you have a good relationship with your bank a bridging loan can be set up within one day.
 
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