Key Takeaways
- • Verify the payee is the true title owner before any deposit
- • Always pay by bank transfer to the owner's account and keep proof
- • Use a sale agreement that clearly states deposit-refund terms
A deposit is the first money you pay to reserve a purchase — and a favorite point for scammers, since buyers rush for fear of losing the property. Paying safely keeps you from losing money before you even get the home.
Verify before paying
Before any deposit, confirm the payee is the true owner — check the original deed against their ID. For resale via an agent, verify with the owner directly; never pay a "representative" without a power of attorney.
Pay with proof
| Do | Why |
|---|---|
| Transfer to owner's account | Clear, traceable proof |
| Avoid cash | No payment trail |
| Keep slips and contract | Evidence in disputes |
The contract protects you
Every deposit should come with a written sale agreement stating price, transfer date and refund terms — e.g., refund if the loan is rejected. It legally binds both sides.
References
- Civil and Commercial Code — deposits and sale agreements
- Office of the Consumer Protection Board (OCPB)
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