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Home/Property deposits: questions before payment

Verification and safety

Property deposits: questions before payment

Pressure to pay a quick deposit can cut short inspection and document checks. Before transferring money, understand the written condition and when the amount is returned or credited.

Practical steps

  1. View the property and establish the identity of the authorized party.
  2. Request a receipt and written terms covering amount, currency, purpose and refund.
  3. Consult a local professional when uncertain; do not send money to an unverified recipient.

A point to check

Do not pay against a verbal promise to reserve a home you have not been able to inspect.

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