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Booking Deposit best practice

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  • 04-06-2015 5:00pm
    #1
    Idioteque
    Registered Users Posts: 627 ✭✭✭


    Hi,

    What's the best practice with paying booking deposits? Is there a specific legal term you need to add to ensure you can get it back under any and all circumstances until contracts are signed and transferred?

    Is it better to pay directly or via solicitor (presume they'd charge for this).

    Thanks.


Comments

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    #2
    Rackstar
    Registered Users Posts: 1,347 ✭✭✭Rackstar


    Subject to contract/contract denied

    From experience it is paid to the EA


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    #3
    Bigcheeze
    Closed Accounts Posts: 2,858 ✭✭✭Bigcheeze


    Just don't pay it to the seller whatever you do. Paying to ea or solicitor is fine.


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    #4
    CaoimheSquee
    Registered Users Posts: 359 ✭✭CaoimheSquee


    And make sure you get a receipt that explains full refund if sale falls through.

    The EA will lodge your deposit into a holding account and it is refundable at any time (until contracts signed obviously!)


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    #5
    antoinolachtnai
    Registered Users Posts: 9,793 ✭✭✭antoinolachtnai


    Just remember that the seller can also walk away at any time, or can increase the price.


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