Why the reservation is the line that matters
A reservation fee looks small next to the purchase price, so buyers treat it as a formality. It is not. It is the moment the relationship inverts.
Before you pay, you are the person being convinced, and every question you ask gets a prompt answer. After you pay, you are the person trying to recover a deposit, and the same questions take three days to come back. Nothing dishonest has to happen for that shift to occur. It is simply how leverage works.
So ask everything now. A seller with nothing to hide will not mind, and the ones who do mind have just told you something useful.
About the property itself
- What type of title does this property hold, and can I have a copy of the current deed?
- Who is the registered owner today, and is that the same party I would be contracting with?
- Is there any mortgage, charge or other encumbrance on the land or the unit?
- Has the property ever been the subject of a dispute or claim?
- What is the exact internal area, and does the advertised figure include terraces or balconies?
- What exactly is included in the price: kitchen, wardrobes, air conditioning, white goods, furniture?
- Who owns the land immediately in front, and what may be built on it?
The seventh question is the one people forget and later regret, particularly on anything sold with a view.
Before the deposit you are a buyer being persuaded. After it you are a buyer trying to get money back. Ask everything on the first side of that line.
About money
- What is the total cost to me, including transfer fees, taxes, stamp duty, legal fees and connections?
- Can I have that as a written breakdown rather than a single figure?
- What is the payment schedule, and what triggers each instalment?
- Which account do payments go to, and is it in the name of the contracting company?
- What are the annual running costs: service charge, local taxes, utilities standing charges, insurance?
- Has the service charge risen in the last three years, and by how much?
- Are any charges outstanding on this property from the current owner?
On the first question, insist on total rather than headline. The gap between the advertised price and the amount that actually leaves your account is the single most common unpleasant surprise in this market, and it is entirely avoidable by asking.
About the reservation itself
- What exactly does this reservation secure, and for how long?
- Under what circumstances is it refundable, and under what circumstances is it not?
- Is the price frozen during the reservation period?
- Who holds the money until contract, and where?
- What happens if my lawyer finds a problem with the title?
That last question deserves your full attention. The only acceptable answer is that your money comes back. A reservation you forfeit because a legal search revealed a genuine defect is not a reservation, it is a fee for being allowed to discover a problem. Get the answer in writing before you pay, not in conversation.
If it is off plan
- What is the contractual handover date, and what grace period applies?
- What compensation applies if that date and grace period both pass?
- Which completed projects have you delivered, and may I visit one that is at least three years old?
- Will the contract be registered at the Land Registry, and when?
Our guide to buying off plan goes through the contract in more detail, but those four questions on their own will tell you most of what you need to know about who you are dealing with.
What a good answer sounds like
| You asked | Reassuring | Concerning |
|---|---|---|
| Can I see the deed | It arrives by email, unprompted, the same day | You will see it at the notary, do not worry about it now |
| What is the total cost | A written breakdown, line by line, with the variable items flagged | A single number, plus the usual fees |
| Can I use my own lawyer | Of course, here are three, we work with none of them | We always use this one, it is much faster |
| Is the deposit refundable | Yes, in these written circumstances, here is the clause | Nobody has ever needed it back |
| When is handover | A date in the contract, with a grace period and a penalty | Around next summer, roughly |
Four answers that should stop you
The price expires today. Real prices survive the weekend. Manufactured urgency is the oldest tool in the box, and it exists specifically to stop you doing what this article describes.
You must use our lawyer. There is no legitimate reason for this. Independent legal advice is the single most protective thing you will buy in this transaction, and any resistance to it is disqualifying.
Pay into this personal account, or this account abroad. Funds go to the contracting company, against an invoice, in its own name. No exceptions and no explanations worth hearing.
We cannot put that in writing. Anything that cannot be written down does not exist. If a promise about handover, refunds, inclusions or costs will only ever be spoken, plan on it not happening.
Then take a week
When you have the answers, go home and sit with them. A property that is right for you on Sunday afternoon will still be right the following Sunday. The pressure to decide immediately almost never comes from the market; it comes from whoever is selling.
This is also, frankly, the reason we exist in the form we do. We check every property before it goes on this website precisely so that these questions have answers before a buyer has to ask them, and we would rather lose a sale than push somebody into a reservation they have not thought through.
If you are close to reserving something, whether it is ours or not, send us the property details and the reservation terms. We will tell you what looks normal for this market, what we would query, and what we would want in writing first. There is no charge for that and no obligation attached to it.
