Another fact
Deposit, security deposit and advance payment: what is the difference
A deposit is the most popular, but not the only form of securing obligations in real estate transactions. There are two other options: a pledge and an advance payment.
An advance payment is a regular prepayment designed to show saint lucia business email list that the buyer has money. The main difference from a deposit: an advance payment does not imply penalties. Either party to the transaction can refuse it and keep their own. The buyer will get their money back in any case, and the seller will not have to pay X2 for the deal breakdown.
As for the pledge, this concept is not used. In colloquial speech, this is called an advance payment, a deposit or a security payment.
The latter is the amount that is transferred to the seller of the apartment, but is not included in the purchase price. Its purpose is to cover certain costs in the event of a deal failure.
That is, if the buyer refuses it, the security deposit remains with the seller. If the deal goes through, this money will be returned to the buyer.
How to buy an apartment correctly
