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  • Buy-to-Let

    Vendor is asking for money

    No x 1000

    Stick to the time honoured rules and practices - they are there for a reason

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    Jonathan Clarke. http://www.buytoletmk.com

    Right for a starters, the other side should not be communicating with you directly. Thats what solicitors are for. They take the instructions and transfer them onto the other side. I'd suggest that you have your solicitor contact his solicitor to verify what he wants and why he wants it. Then you've got 2 legally minded personel in the picture who can advise accordingly.

    The other client and their solicitor are not legally allowed to speak to you directly under any circumstances. If you tried to speak to them, they should be point blank refusing to do so. Likewise as the other way around.


    P.S deal sounds fishy.

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    Better idea:


    Tell him you didn't realise bribes were permitted and that you therefore now require £4k to proceed: Cash in envelope.


    I 'ates crooks and cheats, be they landlord, agent, tenant, MP....

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    Thos might be late.

    At the exchange of contracts date, 10% of the purchase price is normally transferred from buyer's solicitor to the vendor's.

    The rest is paid on completion

    No money prior to exhange of contracts


    How did you get on, in the end?

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    Yes, I would be keen to hear what the outcome was. Do let us know.

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    thank you.  I went with my gut feel and did release  the £24k to the vendor. We completed 10 days later and currently I have the house under intense renovation works. It’s nice to trust people and not always be suspicious.  99% of the time it works out  well.

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    Great! It's good to hear it all paid off and worked out for you Smile 

    I agree with going with your gut feeling. All the best with the renovation project!

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