House purchase

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manxie
Posts: 108
Joined: Tue Jan 03, 2017 2:16 pm

House purchase

Post by manxie »

When some one makes an offer to an estate agent on a property what is normally put down as a deposit percentage wise manxie
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Jimgward
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Re: House purchase

Post by Jimgward »

I’d speak through a lawyer and if I remember correctly, it was a few thousand Cypriot pounds
Yioula
Posts: 810
Joined: Wed Dec 28, 2016 11:55 am

Re: House purchase

Post by Yioula »

I think is 10% to take it off the market.......
sunspot
Posts: 253
Joined: Sun Dec 16, 2018 3:06 pm

Re: House purchase

Post by sunspot »

When our offer on a house was accepted, the agent said that, if we made a deposit, the property would be 'reserved' and the owner could not sell to anyone else 'under Cyprus law'. Not true, according to our lawyer. Owners can sell to anyone they like until a contract is signed. You can of course make a goodwill deposit (we gave €3,000), as long as the agent or a solicitor keeps it until contract signing (rather than passing it to the owner). The deposit should be fully refundable under certain (written) conditions...such as the owner deciding to raise their price.
Jim B
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Joined: Wed Dec 28, 2016 5:42 am

Re: House purchase

Post by Jim B »

Always go through a Lawyer.
A deposit is usually between a thousand and five thousand Euro.
Some agencies take the deposit to close the deal and pass on the money to the lawyer and others advise the clients to let the lawyers handle the money. My wife took clients to their Lawyers office's on several occasions to drop off their deposits.

Jim
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