Selling and Buying negotiate deposit at exchange of contracts

[droghedaexile]

Hi, I'm selling to buy and looking to close at the same time; however I will only have cash deposit of 7 per cent as using equity in the house in the house

Does anyone have any experience from the last few years of negotiating the deposit below 10 % when contracts are exchanged and if this is relatively common practice?

Thanks

 

[Leo]

There's a few similar threads on here already, the way the market is right now, in busy areas some agents will not accept a bid from you if you are in a chain.

 

[Landscape]

Just as Covid was starting, I know a couple that accepted approx 2% deposit on the house they were selling. It appeared to be the sellers decision if they would accept such a low deposit. The sellers weren't in any chain. The buyers might have been in a chain. The sale went through without issues.

 

[droghedaexile]

Just as Covid was starting, I know a couple that accepted approx 2% deposit on the house they were selling. It appeared to be the sellers decision if they would accept such a low deposit. The sellers weren't in any chain. The buyers might have been in a chain. The sale went through without issues.

Thanks all