What is a deposit agreement and How can we help you?
The arras contract is a private agreement between the buyer and seller prior to the public deed. In it, you commit to buying (or selling) the property within a specific timeframe and at a set price, by handing over a sum of money as a deposit.
Our work in FA Lawyers it's to be your legal shield. We review, negotiate, and draft a tailored contract for you, avoiding abusive clauses and ensuring every detail benefits you, whether you are a buyer or a seller. We will guide you so that you perfectly understand what you are signing, whether it's a A/an earnest money contract, which allows you to withdraw from the agreement, or a Confirmatory earnest money agreement, which reinforces the sale and purchase obligation.
Benefits of having a Solicitor for the deposit on your home
Hiring a specialist isn't an expense, it's the best investment for your peace of mind.
Total protection of your money: We made sure to include key clauses, such as the one that allows you to Return of the deposit due to failure to grant a mortgage. If the bank denies your loan, you will get your deposit back without penalty.
Negotiate in your favour We defend your interests by negotiating the The time between the initial deposit agreement and the final deed of sale, the deposit amount and other conditions to suit your needs.
Avoid surprises and hidden costs: We analyse the legal situation of the property (charges, debts, etc.) before signing, ensuring you do not inherit problems from the previous owner.
Clarity and no small print We explain the implications of each type of contract simply, especially in a Private purchase agreement, where there is no estate agent in between.
Troubleshooting ¿The estate agent is not returning your deposit. Or has the seller backed out? We act immediately to defend your rights and recover what is yours.
Real case in Marbella
Recently, we helped a couple who were about to sign a preliminary contract without a mortgage denial clause. Thanks to our intervention, we included it. Weeks later, the bank denied them the loan, but they were able to recover the full €15,000 they had paid upfront. In another case, we represented a seller whose buyer pulled out without justification; we managed to ensure our client received the compensation agreed upon in the penalty clause of the preliminary contract.
