Is the amount of deposit for the house sale stated correctly?
• Check to whom and under what conditions the deposit is to be paid. You should insist that whosoever receives the deposit does so as stakeholder, because a stakeholder cannot part with the money unless they have been satisfied that completion has taken place. • There should be a clause stating the capacity in which the house seller sells, called ‘Title Guarantee Full/Limited’. If such a clause doesn’t appear in the draft house sale contract, ask for one to be inserted. • Check that the address and/or description of the property to be sold is correct. If the property being sold is part of an existing registered title, then you should also be provided with a plan, for more detailed inspection. • If you were told that you are buying a freehold, check that it says so in the description. • If the house seller agreed to include items such as carpets in the house sale price, they should be in the house sale contract, but if the house sale price you are paying is just over the level at which
