We have excepted an offer on our apartment and have been told by our estate agent that the deposit will be released to our Lawyer.
Our buyer is buying a number of properties in our area and we know a couple of the other sellers that they are buying from. All of which have received their deposits.
There has been some delay as they are setting up a Spanish Company to buy the properties through. We have been advised by our Lawyers not to except the deposit, as once you do this you have to sell to the buyer, even if it takes them months or years to complete, and you will have to go through the courts to cancel the agreement.
Does any one know if this is true? We are feeling very insecure at the moment as we have incurred legal fees, and was hoping to off set these against the deposit should anything go wrong. We have not heard anything for 2 weeks now and every time we try to contact the estate agent they are not in. Should we press our Lawyer to accept the deposit? Or will this really tie us in?
Any advise would be appreciated.