Booking deposit: How Much?

S

sullivk

Guest
I'm buying a second-hand house for €190k and we're just about to go sale agreed. The estate agent is asking for a booking deposit of €10k...
Although I am aware that it is fully refundable up until signing of contracts, I just think it's a little steep! Just looking for other people's opinions, well?
 
€2k / €3k is enough. Tell EA to get real. No one ever handed out > 5% of the sale price as a booking deposit and certainly not in these straitened times.
 
Yeah 10,000 seems very high. The agent is only meant to take their fee from that deposit and pass on what's left (if anything). I suspect the agent might be having cashflow problems, hence asking for a larger deposit.
 
When my mam was selling her house 3/4 years ago, it was 10k that the people buying had to pay as a booking deposit. She was told that if they decided not to go ahead with the sale for what ever reason, then they would lose the 10k?!
 
Thanks for the replies. I thought that round the 3-5k mark would be sufficient alright. I just don't feel comfortable handing over such a large amount, and the fact that he was trying to put me under pressure was a bit off putting...
When I told him it would take me a few days to transfer the money through accounts and get a bank draft he was tutting and sighing, unfortunately for him I don't keep 10k under my mattress!
 
Our offer has been accepted on a house this week and the EA is looking for 5% which is over 15K!!! This is crazy.

What is the best method to transfer a deposit to an EA, is it draft, cheques, bank transfer?

What should we get in return that guarantees that if we pull out of the sale that we get our money back? Is there a standard contract regards a deposit?
 
Our offer has been accepted on a house this week and the EA is looking for 5% which is over 15K!!! This is crazy. ...
Offer 3k and if that's not enough look for another house. This is a no-contract refundable booking deposit and is merely an earnest of good faith that you will proceed.
 
He told us €12k when we were buying, we said €4k and he had no problem taking that. Get him to drop what he's asking for.
 
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