A properly executed deposit contract is the guarantor of your peace of mind

Real estate transactions are not common in everyday life for people whose professional activities are not related to its purchase or sale. Drawing up a deposit agreement, a person very often encounters a lot of questions, answers to which help to find this article.

The definition and functions of the deposit agreement

Drawing up a deposit agreement, the buyer and seller pursue three goals, which are provided by the following functions:

1. Financial, i.e. The amount of the deposit is included in the total amount of the transaction;
2. Confirmatory, i.e. The deposit serves both the seller and the buyer to confirm the intention to complete the transaction;
3. Provision of obligations undertaken.

Let us dwell in more detail on the third function. The deposit ensures fulfillment of the obligations undertaken by both the seller and the buyer. At that, only the obligations specified in the contract and not performed by any party under the contract are subject to security. The deposit is paid by the buyer, but it requires the seller to fulfill all the preliminary agreements. It is wrong to think that the deposit is beneficial only to the seller. The benefit of the seller when drafting the contract is that if the buyer does not comply with the terms of the contract, the deposit remains in his possession in full. The buyer's benefit is that if the seller has violated the preliminary agreements, the money is given to the buyer in a double amount. It is for these reasons that the deposit contract is beneficial to both parties to the transaction.

The legislation provides for a written form of the deposit agreement with mandatory registration with a notary. In practice, the deposit contract is made in cases of exceeding the amount of the contract 100 000 rubles, as a rule, it is the purchase of cars or real estate. Although the deposit can serve as collateral for any sale transaction. The size of the deposit is from 5 to 10% of the value of the contract, a unified opinion on this issue is developed through negotiations between the two parties.

Is it possible to return a deposit?

The return of the deposit is possible only if there is a contract concluded in writing and registered with a notary. If you make a refund for a flat deposit, the contract must include the amount of the deposit, the cost of the apartment and the timing of the transaction.

The deposit for the apartment is always subject to return, if the deadline for the performance of contractual obligations has not come or the performance of the contract is impossible for a number of objective reasons, usually suitable under the definition of force majeure (death, natural disasters, etc.).

In all other cases, the deposit remains either with the seller or is given to the buyer in a double amount. If a peaceful solution to the issue is not possible, then it is necessary to apply with a statement of claim to the judiciary. The preparation of the statement of claim must be preceded by the preparation of a claim against the party, who declines to fulfill the deposit agreement.

This stage is very important for enforcement proceedings. The claim should be warned by the declining party about your intention to go to court and offer to return the money within the agreed period.

If the second party to the contract does not respond to your requirements - file a statement of claim with the court. To the statement of claim, you must attach all the documents proving your legal position. It should be remembered that the statement of claim is filed at the place of permanent registration of the second party in the case.

Transactions with real estate always involve a risk, so when it is concluded it is desirable to enlist the support of a lawyer who will be engaged in legal support. The services of a lawyer will be superfluous if you have to solve the problem through litigation.