Terms made simple
Deposit
A sum of money (usually 10% of the purchase price, but can be less) paid by the buyer on exchange of contracts as security for the transaction. This is forfeited if the buyer withdraws after exchange without a valid reason.


A sum of money (usually 10% of the purchase price, but can be less) paid by the buyer on exchange of contracts as security for the transaction. This is forfeited if the buyer withdraws after exchange without a valid reason.

