Deposit in Purchase Agreements Utrecht

In the purchase of a property in Utrecht, such as in popular neighbourhoods like Kanaleneiland or the bustling centre around the Oudegracht, the deposit serves as a down payment to secure the purchase agreement (art. 7:28 CC). In the Utrecht housing market, this is standard 10% of the purchase price, which must be deposited with a notary within 14 days after signing, for example at renowned offices on the Mariaplaats. The purpose is financial coverage in case of dissolution due to financing problems – common with high Utrecht prices – or hidden defects in older properties along the canals. If the buyer fails to perform, the sum is forfeited to the seller, provided there is no non-performance on the buyer's side. The notarial deposit arrangement, specifically tailored to the Utrecht region, effectively protects both parties. Under suspensive conditions such as financing or building survey – essential for Utrecht monuments – the deposit is refunded. Advice for Utrecht buyers: always carefully check the suspensive conditions, have an appraisal carried out by local experts and in case of disputes consult the Council for Legal Aid in Utrecht or the district court at Hamburgerstraat.