# Property deposit



## nearly (Jul 28, 2015)

Hi,
Just wanted to ask if anyone can help advise if when finding a property, whether when putting a deposit down, can it be from a UK bank account or cash or did it have to be from a Spanish bank account

Thanks
Neil


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## VFR (Dec 23, 2009)

nearly said:


> Hi,
> Just wanted to ask if anyone can help advise if when finding a property, whether when putting a deposit down, can it be from a UK bank account or cash or did it have to be from a Spanish bank account
> 
> Thanks
> Neil


As long as it arrives in the sellers bank I cannot see how it matters ?


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## thrax (Nov 13, 2008)

A UK bank account is absolutely fine.


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## Gazeebo (Jan 23, 2015)

We paid cash and upon moving in yesterday, found the place is pretty disgusting regarding cleaning. Whole place needs a good clean, matresses are to puke for, filthy mattress protectors, all pillows covered in sweat stains - disgusting. And believe you me, I am not the cleanest person I have met. In fact my family and friends know me for not liking cleaning, but this is a whole staircase too far. There are also some problems with a few broken fittings and have asked the agent and landlady to come round so we can sort it out, as we do not want to lose our deposit. The villa will certainly be cleaner when we leave than when we have found it. Renter beware.


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## Lynn R (Feb 21, 2014)

nearly said:


> Hi,
> Just wanted to ask if anyone can help advise if when finding a property, whether when putting a deposit down, can it be from a UK bank account or cash or did it have to be from a Spanish bank account
> 
> Thanks
> Neil


The couple we know who bought most recently (a couple of months ago) transferred the funds for the deposit from their UK bank account to the client account of their lawyer, using Currency Fair to make the transfer as their exchange rate is much better than the high street banks. The lawyer insisted on having a paper trail of where the funds came from and Currency Fair provided an email for them to confirm this. I think procedures have been tightened up in the past few years because of money laundering regulations, as I wasn't asked for anything like that when I bought 12 years ago.


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## nearly (Jul 28, 2015)

Lynn R said:


> The couple we know who bought most recently (a couple of months ago) transferred the funds for the deposit from their UK bank account to the client account of their lawyer, using Currency Fair to make the transfer as their exchange rate is much better than the high street banks. The lawyer insisted on having a paper trail of where the funds came from and Currency Fair provided an email for them to confirm this. I think procedures have been tightened up in the past few years because of money laundering regulations, as I wasn't asked for anything like that when I bought 12 years ago.


Thanks Lynn, thats good to know. Thanks for the advice

Neil


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## nearly (Jul 28, 2015)

*Deposit Duration*

How long does an initial deposit you put down on a property, hold the property for, before you have to pay the next set of money ?


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## bob_bob (Jan 5, 2011)

Gazeebo said:


> We paid cash and upon moving in yesterday, found the place is pretty disgusting regarding cleaning. Whole place needs a good clean, matresses are to puke for, filthy mattress protectors, all pillows covered in sweat stains - disgusting. And believe you me, I am not the cleanest person I have met. In fact my family and friends know me for not liking cleaning, but this is a whole staircase too far. There are also some problems with a few broken fittings and have asked the agent and landlady to come round so we can sort it out, as we do not want to lose our deposit. The villa will certainly be cleaner when we leave than when we have found it. Renter beware.


Did you not inspect the property before parting with cash?


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## cay (Jan 8, 2015)

bob_bob said:


> Did you not inspect the property before parting with cash?


A lot of problems are not 100% visible when you do property walk throughs. We recently met with the same fate with a small villa in La Duquesa (shudder) when we walked through the house was spectacular, everything looked clean, the appliances all worked, both bathrooms were in clean order and smelled fine. The day we moved in neither bathrooms plumbing worked, the master bathroom was so putrid even with the door and windows closed and locked the stench still emanated outside and through the corridor, the microwave cover fell off when we went to use it, and the inside of the dishwasher sealer came out every time we opened the darn thing. The gas pilot light constantly went out seeping the gas throughout the shed. And don't get me started on the cockroaches.... 

And yes, we did lose that deposit.

Things are not always so transparent!


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## Gazeebo (Jan 23, 2015)

bob_bob said:


> Did you not inspect the property before parting with cash?


Unfortunately my OH viewed the property and did not ask to look at the matresses - lesson learned!


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## Gazeebo (Jan 23, 2015)

cay said:


> A lot of problems are not 100% visible when you do property walk throughs. We recently met with the same fate with a small villa in La Duquesa (shudder) when we walked through the house was spectacular, everything looked clean, the appliances all worked, both bathrooms were in clean order and smelled fine. The day we moved in neither bathrooms plumbing worked, the master bathroom was so putrid even with the door and windows closed and locked the stench still emanated outside and through the corridor, the microwave cover fell off when we went to use it, and the inside of the dishwasher sealer came out every time we opened the darn thing. The gas pilot light constantly went out seeping the gas throughout the shed. And don't get me started on the cockroaches....
> 
> And yes, we did lose that deposit.
> 
> ...


Well, that's a lot worse than us you poor things. We will check whether our insurance legal cover helps with non-return of deposit for reasons unfounded. We have taken photographs so damage cannot be blamed on us. It may be that the landlord will be reasonable and we are meeting her and the agent tomorrow. As long as we get one new(ish) matress we will put it all behind us. :fingerscrossed: Oh well - off to do some more cleaning.


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## Pazcat (Mar 24, 2010)

Never saw the point in paying anything to take the house off the market, in most cases it is kind of pointless considering the house is advertised via several agents and plus once an offer has been accepted that is all the contract you need legally speaking, they are binded to the sale as are you to purchase. Of course that is not how they tend to do it here but still even a verbal acceptance is binding.

That said I have no idea how long you can push it in regards to drawing up the deposit and terms contract even having paid to take it off the market.
Your best bet is to either make the terms clear in the deposit contract and discuss with the seller how long they can wait, you can always add a clause that if too long passes you can both back out with no loss of moneys but it would have to be a mutual agreement. 

If it was me I'd wait until things are more certain.


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