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so an update on the rapidly worsening situation, basically solicitor said we have to propose a retention where monies are set aside in an escrow account until the final bill for the undisclosed section 20 works is received and the seller gets what is left over. though i guess there is a back and forth with offers for amounts of part payment.
No idea what happens next apart from a pissed off seller though it should be directed at the solicitor as it must be their mistake on not passing this information on and i wouldn’t want to pay them for their incompetence.Oh and we have to complete by next Thursday....
Mr_Smyth-
solicitor said we have to propose a retention where monies are set aside in an escrow account until the final bill for the undisclosed section 20 works is received and the seller gets what is left over
I would have a think before agreeing to this. You may find it easier to agree a price chip and both move on with your lives rather than pay solicitors £££s in extra fees to set up and monitor retentions.
NickCJ
Surely if they didn't reveal this during the process, up to and including exchange, then they're liable for the costs??
What does your solicitor say?