10% is standard, but it's pretty common to negotiate a lower amount. This is held in trust by the sellers solicitor.When it comes to the conveyancing, on signing of contracts would we need 10% hard cash for the deposit?
It's possible, but can add stress, and reduces your buying power.Is it viable to purchase a house in our area via a chain and closing the same day?
We would understand the stress involved and that we wouldn’t be as attractive as a FTB, but there is no other option and willing to do it. Nowhere to rent in our area either.10% is standard, but it's pretty common to negotiate a lower amount. This is held in trust by the sellers solicitor.
It's possible, but can add stress, and reduces your buying power.
If I was a seller and had 2 offers on the table which were close in value, one in a chain and the other not, I'd be telling my estate agent to accept the offer that wasn't a chain.
There are stories of a lot of sales in your price bracket falling through in last couple of months, so research the market, keep an eye on properties coming up for sale etc. A lot could change in the next year before you sell.
You just negotiate the amount before signing. It's pretty common.We have built up good equity over the years but till now didn’t dawn on us that over €60k of hard cash would be required at contract signing when trading up.
Thanks, appreciate your help on this. Do you know what a reasonable percentage would be?You just negotiate the amount before signing. It's pretty common.
Personally, I've seen as low as 5%. But it's up to the seller to accept whatever you propose (or more what their solicitor advises them). It really just needs to be enough to make sure you don't mess them around later and fail to complete the contract.Do you know what a reasonable percentage would be?
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