Conveyancing: Deposit

[FredPuli43]

Contracts exchanged. I am the seller. Deposit of 10 per cent now in my solicitor's client account. I ask my solicitor to pay it to me now, not retain it. She replies that she cannot release it to me until completion in three weeks "because it is a contractual condition that the deposit must be held by the seller's solicitor in their client account until completion "

What contractual condition is that? Is it in standard conditions of sale? Certainly I am not aware of signing for any such term. It benefits the solicitor, not the client. If I had acted without a solicitor, the deposit would be paid to me directly

[brandyrose]

The interest is as good to you as it is to them Fred...they are vampires.

Some solicitors can be amusing.. I had one once - his name was Frank ..his favourite phrase was "to be frank" ...I used to say to him - you are Frank!