Deposit on conditional contract

Discussion in 'General Property Investment Discussion' started by newnoob, Mar 27, 2018.

  1. newnoob

    newnoob New Member

    Hi everyone.

    Can anyone please tell me what sort of non-refundable deposit a developer should expect to pay when purchasing a property with the condition that the developer can obtain planning permission on it?

    Thank you.
     
  2. realdeals

    realdeals Active Member

    Had a quick look on Google and there is no reference to an "average" figure - I think it will depend on the seller who has ultimate control.
     
  3. Longterminvestor

    Longterminvestor Administrator

    I am not sure why a developer would only take a deposit. If they took for example a 20% deposit and planning permission on the property was denied then surely this would impact its potential value? Selling it with "possible" planning permission must be better than selling it with "no" planning permission? Hope value must account for something?
     
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