The deposit or reserve contract It is the first documentary step that the buyer must give for its acquisition. What does this firm suppose? That the buyer and the seller agree on the sale of a property. In the act, the buyer as proof or guarantee of compliance with the contract, delivers an economic amount. This is usually set between an 2% and an 5% of the value of the property, without taxes.
We tell you some aspects that should be included in this contract, its validity and what its non-compliance implies.
.-What should that deposit contract include?
- Who is involved?
- Who signs?
.-What happens if the contract is not fulfilled? It depends if it is between individuals or new work.
Image: Almagro street in Madrid @crdeprada