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What is a reservation deposit and how much is it?

It is an initial payment that takes the unit off the market while the contract is prepared. There is no amount set by law: in pre-construction projects it is usually a fixed amount, often between USD 2,000 and USD 10,000, and in resales it may be a percentage of the price. Before paying, get the reservation period and refund conditions in writing.

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These answers are for guidance only and do not replace advice from a lawyer, accountant or immigration adviser. Laws, rates and amounts can change: confirm each case before signing or paying.

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