Buyer Fees
Colubrid Buyer Reservation Fee Terms
Lock in Your Property for £1,000
Colubrid charges a £1,000 reservation fee on all property purchases.
By paying this fee, your chosen property is immediately taken off the market, giving you exclusivity and peace of mind while you move forward with the purchase. The reservation fee works like a rental holding deposit, but for buying homes. It protects both you and the seller from last-minute changes or competing offers. We’ll make sure you fully understand the fee and its terms, both verbally and in writing, before payment.
Terms of Agreement
Paying the non-refundable reservation fee grants you exclusivity to proceed with your property purchase on the following terms:
1. Solicitor Details
Provide full solicitor details within 7 days of payment.
2. Instruction to Solicitors
Ensure your solicitor receives full written instructions, including all completed forms, within 14 days of the sales memorandum being issued by Colubrid.
3. Search Payments
Promptly pay for any searches your solicitor may require to avoid delays.
4. Mortgage Offers (if applicable)
If you are purchasing the property with a mortgage, your solicitor must receive a full written mortgage offer within 28 days of the sales memorandum being issued. If this deadline is not met, the seller reserves the right to place the property back on the market. Your offer will remain valid until a new buyer is found. If this happens, your reservation fee will not be refunded.
5. Chain-Related Delays
If part of a property chain and a link collapses, the seller may choose to re-market the property. Additional time may be granted, but this cannot be guaranteed.
6. Price Renegotiation
Attempts to renegotiate the agreed purchase price may be declined. If you then choose not to proceed on the original terms, your reservation fee will be forfeited.
Refund Conditions
- If the seller withdraws from the sale due to their own circumstances (not related to you or the property), or there is an issue with the property itself that affects your mortgage offer, the reservation fee will be refunded minus any applicable card processing fees.
- In all other circumstances, the reservation fee is strictly non-refundable. By making this payment, you confirm your agreement to the above terms—and take the first step toward securing your new home.
