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‘Booking’ Deposit on a house.

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  • 12-10-2019 10:34am
    #1
    from_atozinc
    Banned (with Prison Access) Posts: 2,943 ✭✭✭


    Hi.

    Looking at a development later and they are looking for a 5000 Euro ‘booking’ deposit.

    Anyone know offhand if this is refundable if you change your mind?


Comments

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    #2
    Salary Negotiator
    Closed Accounts Posts: 1,148 ✭✭✭Salary Negotiator


    Yes. Completely refundable up until contracts are signed.


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    #3
    whiskeyman
    Registered Users Posts: 12,564 ✭✭✭✭whiskeyman


    Ask / read the small print to be sure, but I'd expect so.


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    #4
    Hannibal_Smith
    Moderators, Society & Culture Moderators Posts: 6,961 Mod ✭✭✭✭Hannibal_Smith


    Yes, booking deposit is fully refundable without deduction from it, up until Contracts are signed and exchanged.


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    #5
    doh1988
    Registered Users Posts: 69 ✭✭doh1988


    Of course!


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    #6
    Dolbhad
    Registered Users Posts: 782 ✭✭✭Dolbhad


    It’s is refundable but ideally you would want to pay it to an auctioneer who has to hold it in client account rather than builder directly. Not that it’s a problem in current climate of builder going bust! But we paid a deposit directly to builder and then didn’t go ahead. Just took around three weeks for the money to be refunded back from builder and required a follow up reminder. I’d assumed it would be quicker with auctioneer


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    #7
    lb1992
    Registered Users Posts: 6 ✭lb1992


    Can anyone tell me how quick you usually have to pay a booking deposit if your offer is accepted?


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    #8
    CarMc
    Registered Users Posts: 74 ✭✭CarMc


    lb1992 wrote: »
    Can anyone tell me how quick you usually have to pay a booking deposit if your offer is accepted?

    It's usually paid within a few days of going sale agreed. The quicker the better.


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    #9
    PhoenixParker
    Registered Users Posts: 2,671 ✭✭✭PhoenixParker


    On a new build? Usually ASAP, basically that day or the next working day + however long the cash takes to clear to their account. Well that's how it was, maybe with covid there's less urgency.


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    #10
    punisher5112
    Registered Users Posts: 24,647 ✭✭✭✭punisher5112


    Booking deposit is what you put down to hold....

    What's been happening in new build is people queue and pick a house no. Off the plans and go from there.... Basically they will want to see mortgage in principle and they will want the deposit that day to hold.


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