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Reservation Guarantee: Pricing & Key Terms
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Pricing
The reservation fee is a one-off cost, paid once, that sets up your Reservation Guarantee. It’s based on the commitment level you and the other party agree.
| Commitment Level | One-off Reservation Fee (inc. VAT) |
|---|---|
| £2,000 | £600 |
| £3,000 | £720 |
| £4,000 | £960 |
| £5,000 | £1,080 |
| £6,000 | £1,320 |
| £7,000 | £1,440 |
| £8,000 | £1,560 |
| £9,000 | £1,680 |
| £10,000 | £1,800 |
For a higher commitment level, ask your Reservation Specialist for a quote.
Key Terms Explained
Commitment
The agreed amount either party pays if they withdraw without good reason. It acts as compensation for losses caused by a failed sale.
Reservation Fee
The one-off fee that sets up a legally backed, mutual commitment between buyer and seller, without either side needing to put down a deposit.
Who Pays the Commitment?
Nothing is paid upfront. Gazeal guarantees the commitment and protects both parties, so the money is only paid out if someone withdraws unreasonably.
Who Pays the Reservation Fee?
It can be paid by the seller, the buyer, or split 50-50 between them. It can also be paid by the agent, in which case compensation is shared with the agent.
Reasonable Withdrawal
If either party pulls out for a valid reason, no compensation is due and the agreement ends fairly.
Unreasonable Withdrawal
If a party pulls out without a valid reason, they’ve defaulted on the agreement. The agreed compensation is paid to the innocent party, and Gazeal guarantees that payment is made, even if the defaulting party doesn’t pay it themselves.
Have Questions?
Speak to your Meldone Estates agent or a Reservation Specialist to find the right commitment level for your purchase or sale.