At exchange of contracts a deposit is paid by the buyer to you (although this is held by us until completion).

Traditionally this deposit is a sum equivalent to 10% of the sale price of the property, although it is not unusual for buyers not to be able to find that amount and so often a reduced deposit is agreed.

We will discuss the amount of the deposit with you before exchange of contracts – this will be particularly important if you are also buying a property since it will affect the amount of deposit you can afford to give to the seller of that property.