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  1. Hi all, I made an offer on a property and had it accepted last Friday, though i now know this gazumped a previous and probably frustrated cash buyer with a 5k less offer than mine. Knowing this I asked them to please remove all the other vendor boards from the property and for the house to be placed as STC. There is no Chain as i am a buy to let customer and they have already moved out. I have an mortgage offer in principle and submitted the full application now and waiting the full offer and then to pay the product fee and survey costs before they will send a surveyor (Virgin Money). Also i engaged and paid a deposit with the solicitor and they are working on this last couple of days. "The Catch" Today when asked seller to take it off with other agents and advise the old buyer it was now of the market they said only if i paid a 2k deposit to there solicitor and they would do the same to make sure nether pulled out or the one a fault would lose this. I have never heard of this and can't understand why this would be used. Does anyone have experience of this or how it is set up if the case? Surely any such draft would have to state my side that the deposit is paid with the assumption that I get accepted for my mortgage, the survey comes back ok and accted by the building society as well as rental checks and that the legal work is all completed to me and my solicitor. If it contains all this then i do not see any benefit as when you have all this you can exchange contracts anyway with a deposit? Unless of course they do not want to include assumptions and then that leaves great risk of lose of deposit? Any thoughts, advise or help here appreciated as the deal is close to failing due to seller wanting this and me being wary of what they want in the contract for deposit and who pays the legal costs both ways. I have put my solicitor on hold for now as unsure where this is heading. In reality if i kept everything rolling we would potentially be at exchange in 3 weeks. Kind Regards Nev
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