Q&As

A contract for sale of property (incorporating commercial property third edition conditions) provides that the buyer is permitted access between exchange and completion and that the buyer is responsible for any damage caused. Can the seller use the deposit if the buyer does cause damage?

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Published on LexisPSL on 29/01/2018

The following Property Q&A provides comprehensive and up to date legal information covering:

  • A contract for sale of property (incorporating commercial property third edition conditions) provides that the buyer is permitted access between exchange and completion and that the buyer is responsible for any damage caused. Can the seller use the deposit if the buyer does cause damage?

A deposit serves two purposes:

  1. security for the performance of the contract

  2. part payment of the purchase price if the sale completes

If the deposit is held as stakeholder, the stakeholder can only pay the deposit to the person rightfully e

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