Q & A

Q Can I make an offer on more than one property? I have seen two that I'm very interested in.
W Searle, Darlington

A There is nothing to stop you doing this until you have an offer accepted, although to be fair to everyone you should only make an offer on a property that you would definitely want to buy. Once you have an offer accepted you will have to give the estate agent (or vendor, if buying privately) your solicitor's details and instruct a surveyor or lender's valuer as soon as possible to ensure that the sale progresses speedily. This would not be possible to do for more than one property. As soon as you are sure you want to proceed with the purchase, you must withdraw any other offers immediately. This does not apply in Scotland where once an offer is accepted you are legally bound to proceed with the sale or be held liable for the losses of the other party.

Q Will putting a deposit on a property secure its sale?
Ms Painton, London

A No. There is nothing legally binding about a deposit and many estate agents will not accept one. However, some vendors may insist on a deposit to show good faith. In this case, you would be wise to make sure that your agent is a member of a recognised professional body such as the National Association of Estate Agents (NAEA). The NAEA advises that a deposit should be held in a client account and a receipt issued indicating that the agent is holding it as a stakeholder. Deposits are usually required by developers when reserving a new property. If you withdraw before exchange, only a percentage of this may be returned. In Scotland it is rare for a deposit to be required.

No advice given here is legally binding