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Topic starter
I'd be lying if I said this was exciting. We're selling a flat, our solicitor says:
"I have had a request from the seller’s solicitors that we hold back retention of £150 after completion until the year’s final accounts have been audited in case there is a shortfall. "
Why, what does this mean, and what happens if we say no? Any help greatly appreciated. Thanks!
Posted : 06/03/2012 9:31 pm
Its just to cover if there's a shortfall in your projected service charge budget for the year.
Posted : 06/03/2012 9:33 pm
Topic starter
brillo, thanks. Though seems a bit unfair to ask the seller for it? What if we said no?
Posted : 06/03/2012 9:36 pm