We're hoping to trade up in the next while, and are aiming to complete the sale and purchase on the same day if we can. In order to do this, am I right in thinking that we should hold 10% of the price of the new house in cash, as we'll need to deposit this before we will have the sale proceeds from our current house?
We do have enough cash to cover it, but I dislike having that much cash sitting around when it could be put to better use elsewhere.
Thanks in advance.
We do have enough cash to cover it, but I dislike having that much cash sitting around when it could be put to better use elsewhere.
Thanks in advance.