Many prospective buyers want to secure a property before the notary appointment is due. This is where so-called reservation agreements come into play - often offered by estate agents. But what legal significance do they really have? And when should caution be exercised?
What a reservation can do
With a reservation agreement, the estate agent undertakes not to market the property for a certain period of time. In return, the interested party pays a reservation fee - usually between 500 and 2,000 euros. The aim: planning security and avoidance of double negotiations.
No legal purchase commitment
Important to know: A reservation does not replace a purchase contract. Neither the seller nor the buyer is obliged to complete the purchase - unless the notarized contract is concluded. If no purchase is made, reclaiming the fee is often problematic.
Reservation fees legally tricky
Courts have ruled: Only if the agreement between broker and buyer is notarized or the broker is a party to the contract is it legally effective. Otherwise, there is no entitlement to payment or retention of the fee.
Transparency and advice are crucial
If you want to make a reservation, you should make sure you have a written, transparent agreement - with a clear duration, amount and refund conditions. If in doubt, it makes sense to seek advice from a lawyer or notary, especially for larger sums.
Conclusion
Reservation agreements can help - but they must be legally sound. If you are informed and careful, you can protect yourself from unnecessary costs and misunderstandings. If in doubt, it is better to go to a notary than to sign with an estate agent.
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