What is the amount of the guarantee? In real estate, the amount of the guarantee is a sum of money that the potential buyer offers to the seller (the owner) as a confirmation of the intention to purchase the real estate.
In order to avoid any doubt or confusion with the amount of guarantee, a written agreement must be made in writing.
What should a contract of “arvuna” include?
A contract of “arvuna” must contain the following essential elements:
- Title
- Identification data of the seller (name, surname, IDNP)
- Property for sale data (address, cadastral number)
- The amount given as a deposit/arvuna
- The final sale amount of the property
- The date of the sale-purchase transaction
- Date of drafting the act
- Signature of both parties
The contract of “arvuna”shall be drawn in two copies, one for each of the parties.
What happens if the sale-purchase transaction does not take place?
- If the buyer changes his mind to buy the real estate, then the amount that has been offered as a deposit will remain with the seller.
- If the seller does not want to sell the property, then he / she must, according to the law, return the double sum that he / she received as a deposit.
The amount of the guarantee, besides the two basic functions it performs to confirm the conclusion of the sale-purchase contract and to guarantee the performance of the contract, also performs the partial payment function. The amount given as an arvuna is to be taken into account when paying the property on the day of the transaction.
An informed customer is a protected customer!
