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Posted

i would suggest you use a lawyer, all to many times i have seen people devise there own contracts ect and it has caused no end of trouble for the seller / buyer

a lawyer can create a deposit agreement for you for peanuts

cheers

Posted

Do not draw up a separate contract for the down payment. Whether it is a condo or house purchase, or a house construction one had better use one contract (actually agreement) only. This agreement shall clearly specify the payment terms, i.e. how much and how to pay for each installment and what the seller should have accomplished before you release your milestone payments.

For each payment you make reference should be noted to the agreement on the receipt.

Please also note that the golden rule of any agreement is not to pay for anything without getting anything in return.

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