Important Notice
The information provided serves as a general guideline regarding payment commitments and contractual arrangements for reservation deposits. It is not legal advice, nor should it replace consultation with a qualified attorney experienced in real estate or contractual matters. Regulatory requirements may differ based on jurisdiction, and necessary modifications might be required to ensure adherence to local laws. The use of this material is solely at the user’s discretion, and no liability is assumed for any errors, omissions, or adverse outcomes resulting from its use without professional legal review.
Please be aware: This is a sample Non-Refundable Deposit Agreement template for illustrative purposes only. Actual terms may vary depending on specific agreements and applicable laws.
Non-Refundable Deposit Agreement Sample
Parties Involved:
Seller: XYZ Real Estate LLC
Address: 123 Main Street, Anytown, USA
Buyer: John Doe
Address: 456 Elm Street, Anytown, USA
Property Description:
The property involved in this agreement is located at 789 Pine Avenue, Anytown, USA, or other specified real estate as negotiated.
Deposit Terms:
The Buyer agrees to pay a non-refundable deposit of $10,000 within 3 business days of the signing of this agreement. This deposit shall be credited toward the purchase price at closing. The deposit is non-refundable except in cases of breach by the Seller or as otherwise stipulated herein.
Buyer’s Responsibilities:
The Buyer shall provide the deposit as specified and cooperate fully with the Seller to facilitate the transaction, including timely inspections and providing necessary documentation.
Governing Law:
This agreement shall be governed by the laws of the State of California. All disputes shall be resolved within the jurisdiction of the courts in Los Angeles County.
Additional Provisions:
- The deposit is non-refundable unless the transaction fails due to the Seller’s breach or other conditions specified herein.
- This agreement may only be amended in writing signed by both parties.
- If the Buyer defaults without valid cause, the deposit shall be forfeited to the Seller as liquidated damages.
Los Angeles, ______________________
John Doe (Seller)
Jane Smith (Buyer)