"At the time of signing this document, XXXX acknowledges receipt of £5000.00, at the reservation deposit to reserve the specified property as set out above. £4000.00 out of the above is deductible from the property purchase price.The balance of £1000.00 (inc VAT) acts as the administration and handling fee payable to XXX
1. Should you opt to pay by Bank transfer or cheque, your unit will not be removed from general sale until we have received confirmation of bank transfer (by means of faxed/e-mailed printout of funds transfer) or a faxed/e-mailed copy of the intended cheque.
2. You accept that XXXX is not the vendor of the property and is acting solely as an intermediary betwen you and the Vendor to facilitate an independent contract for the purchase of the property which you will enter into with the Vendor.
3. By signing and returning this form, you have read and accept the XXXterms and conditions detailed on the XXXXwebsite XXXX and you acknowledge that XXXhas/have advised you, and you are fully aware , that your reservation deposit is non-refundable and non-transferable.
4. You agree to pay the first deposit of 50% (less the £4000.00) directly to your lawyer on exchange of contracts.
5. Execution of this agreement may take place by facsimile (or scanned email) where such agreement is agreed in counterpart hereto."