Don't lose your dream house - Pay reservation deposit today - Flipbook - Page 6
3 Lock your price
In the days before a reservation deposit was used, your offer would be
accepted and then another buyer would submit an offer that was higher
than yours. To make sure you got your dream house, you’d have to put in a
higher bid, sort out a new mortgage, calculate your new (higher) deposit as
well as all the inconvenience this brings. The reservation deposit shows
commitment from you and the seller and avoids all that hassle
4. Saves you time (and money)
Paying the reservation deposit means the property is reserved for you so
you’ll be able to organise surveys, instruct solicitors and know that you’re
not wasting time and money on a survey for a property that you might lose if
a higher offer was submitted
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