Note:  The REAA 2008 requires the deposit to be held for ten working days, a change from the 1976 Act which referred only to ten days.  If getting the deposit released early it is critical to get the authorisation of both parties.

This can be by the parties or their solicitors.   i recommend always to put the letters PP before the names then if there is more than one signatory but only one is available you are able to have them sign for the other party/ies.

 

If using this release, it must be kept with the sale and purchase agreement and available for your auditor.

 

 

The Manager
(Agency name and address)

 

 


Re: Sale & Purchase of (address of property)
(Vendor name / Purchaser name)


We, the undersigned being both parties to the above sale and purchase hereby authorise you to forthwith disburse the deposit on the above property, as provided for under section 123(2) of the Real Estate Agents Act 2008:

 

 

 

 

_____________________________________________________     _____/______________/________
pp (Vendor name)
 

 

 

_____________________________________________________     _____/______________/________


pp (Purchaser name)