Contract Deposit
Usually approx £2,000 and is your official confirmation that you intend to proceed with the purchase of that property. (see reservation contract)

How can deposits be paid?
While may companies insist that you produce a bank draft deposits can if fact be pain by normal bank cheque or cash.

Is the deposit refundable?
In most cases once you have signed a contract and paid your initial deposit should you for any reason cancel the transaction you will lose the deposit. This helps to safeguard the seller who must stop offering the property for sale as soon as the contract is signed. However if the seller stops the sale under Spanish law they must repay twice any deposit received.

What if I buy off plan?
When you buy a new property off plan most builders will ask for stage payments during the construction. Typically before the property has been completed you will be asked to pay two payments of 25%.