We have decided to buy the freehold of our two flat building. Our surveyor has negotiated a price with the freeholder that we are happy with and this has been done by agreement rather than through the statutory route. The freeholder has written to us and asked for a deposit to “initiate the process” and has stated that the deposit is non-returnable.
Is this what usually happens? It seems strange to be paying the freeholder this money when we are nowhere near actually purchasing the freehold. Presumably they could walk away at any point and we would lose that money?
Is this what usually happens? It seems strange to be paying the freeholder this money when we are nowhere near actually purchasing the freehold. Presumably they could walk away at any point and we would lose that money?
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