You have found a property you want to buy. A Gazeal Deposit Agreement gives you a way to demonstrate your commitment and reserve it while you work towards exchange. You place a holding deposit, and the Seller agrees to take the property off the market.
What is a Deposit Agreement?
A Deposit Agreement is a written commitment between the Buyer and Seller. The Buyer places an agreed holding deposit and the Seller reserves the property for them. The agreement sets out the commitment, the reservation period and the conditions for releasing or returning the money.
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The holding deposit option
A holding deposit secures the property for you by taking it off the market. You agree on a deposit amount with the Seller, which is held safely through Gazeal’s payment partner, Shieldpay. If you pull out without a valid reason, the Seller keeps your deposit. If the Seller pulls out for any reason, you get your deposit refunded in full.
Show your Commitment and stand out as the best Buyer in the market.
Deposit held securely through Gazeal’s payment partner, Shieldpay.
If the Seller pulls out for any reason, you get your full deposit back.
This is just like lettings, but for sales: a holding deposit shows commitment and reserves the property. Your sale or purchase has its own agreed terms; residential letting rules do not govern this agreement.
Held securely, released on agreed terms
Your deposit is held through Shieldpay, rather than paid straight to the Seller. Shieldpay Ltd is authorised by the Financial Conduct Authority to provide payment services and safeguards customer funds separately from its own money.
The 3-Step Process to Secure Your Purchase
Step 1: Commitment
By asking the Agent about Gazeal’s Buyer commitment options, you can stand out from the crowd and give the Seller confidence in choosing you. You can put down a deposit to secure your dream home and take it off the market. This works just like lettings but for your purchase.
Step 2: Lock In Your Commitment with Terms and Exclusivity
Once the parties have agreed on the commitment path:
You secure an exclusivity period (up to 6 months), where the Seller agrees not to market the property to other Buyers.
Both parties agree on a clear timeline and terms for exchanging contracts.
Your Commitment is secured with the agreed Holding Deposit, held securely through Gazeal’s payment partner, Shieldpay.
Step 3: Gazeal Protects Your Purchase to Exchange
With the Deposit Agreement in place:
Both parties work towards exchange on the terms agreed.
If the Buyer pulls out without a valid reason under the agreement, the deposit is paid to the Seller.
If the Seller pulls out for any reason, the Buyer gets their deposit refunded in full.
At exchange, the deposit is returned to the Buyer as agreed.
All services are subject to their respective terms and conditions.
Fair terms, agreed before you sign
The Buyer and Seller agree the deposit amount, exclusivity period and exchange timetable together. Before signing, either party can propose changes. The final wording is the terms you have both reviewed and agreed to.
The agreement recognises valid reasons for withdrawing. Where there is a disagreement, Gazeal’s dispute-resolution process considers it under those terms before the deposit is released. A deposit is not forfeited merely because somebody makes an allegation.
Questions buyers often ask
Who chooses the deposit amount?
The Buyer and Seller agree it together before signing.
What happens to the deposit at exchange?
It is returned to the Buyer as agreed. It is not an extra payment retained by the Seller when the sale proceeds normally.
What if the Buyer has a valid reason to withdraw?
The agreement sets out the valid reasons. If the Buyer’s reason is confirmed under those terms, their deposit is returned.
Does the Seller pay matching compensation?
This is a holding-deposit arrangement, not the matching financial commitment used by the Reservation Guarantee. If the Seller withdraws, the Buyer’s deposit is returned in full.
Are there fees as well as the deposit?
A reservation fee applies to setting up and managing the arrangement. Your agent can explain who will pay it and the amount before you agree to proceed. The deposit and the reservation fee are separate.
Choose the commitment that suits your purchase
If you prefer a guaranteed financial commitment instead of placing a holding deposit, read our Reservation Agreement guide for buyers.
To discuss a holding deposit for your purchase, talk to Gazeal. You can also read the Deposit Agreement guide from the other party’s perspective.
This guide is a general introduction. Your signed agreement sets out the terms for your transaction.
