Chapter 5 of 10 · From sale agreed to keys · 10 of 12
The booking deposit: how much, who holds it, and getting it back
Checked 21 Oct 2026the Central Bank's mortgage measures, Revenue's rules and the scheme operators' published terms.
The booking deposit explained: typical amounts, who holds it, why it's refundable until contracts are signed, and how to get it back.
Written in plain English for the person buying, selling or switching. This guide covers the Republic of Ireland only.
The booking deposit is the first money you hand over when you buy a home. It is also the most misunderstood. People think it buys the home, or that they can lose it. Neither is true. This guide explains what it is, how much it usually is, who holds it, and how to get it back.
What a booking deposit is
When the seller accepts your offer, the agent asks you for a booking deposit. You pay it, the agent gives you a receipt, and the home is marked sale agreed. The deposit does two things:
- It shows the seller you are serious.
- It takes the home off the market while the legal work starts.
It does not bind you or the seller. Nothing binds either side until contracts are signed, which usually happens four to eight weeks later. Until then the deposit is yours and you can have it back on request. The sale agreed guide explains that stage.
How much it is
| Home | Typical booking deposit | Who sets it |
|---|---|---|
| Second-hand home | €5,000 to €10,000 | The agent |
| New build | €5,000 to €10,000, sometimes more | The developer |
| Auction | Not used: 10% is paid on the day and binds you | The auctioneer |
There is no figure in law. The agent (an agent needs a PSRA licence; see the estate agent page) sets the amount, and you can ask for a lower one if the figure is a stretch. The deposit always comes off the price. It is not an extra cost.
A worked example
You go sale agreed on a house at €380,000 and pay a €5,000 booking deposit. Six weeks later you sign contracts. The contract deposit is 10% of the price, which is €38,000. The €5,000 you already paid counts towards it, so you pay €33,000 at signing. At closing you pay the remaining €342,000, most of it from the mortgage. The deposit never went anywhere on its own; it was the first slice of the price.
Who holds the money
The agent holds the booking deposit in a client account. This is a bank account that holds customers' money separately from the agent's own money. The Property Services Regulatory Authority (PSRA) licenses agents and checks these accounts. You can look up any agent on the PSRA register. If a person asks you to pay a booking deposit to a private account, or to the seller directly, stop and ask your solicitor first.
Get a receipt. It should show the amount, the address, the date and the words "subject to contract". Keep it until you close.
Why it is refundable
In Irish law a sale of land is not binding until there is a signed written contract. The booking deposit is paid before that contract exists. So it cannot be a payment under the contract, and it cannot be forfeited under one. If you withdraw, the agent returns it. If the seller withdraws, the agent returns it. The agent cannot keep part of it as a fee or for costs.
The same rule works against you. Because the deposit does not bind the seller, the seller can accept a higher offer after you have paid it. That is gazumping, and it is lawful until contracts are signed. The gazumping guide explains what lowers the risk.
How to get it back
If you decide not to go ahead:
- Tell the agent in writing, by email, that you are withdrawing and want the booking deposit returned.
- Copy your solicitor (check the Law Society's register; see the conveyancing solicitor page).
- Give the agent your bank details for the refund.
- Expect the money within a week or two. Ask again in writing if it does not arrive.
- If the agent refuses or delays without reason, complain to the PSRA.
You do not have to give a reason. A bad survey, a low valuation, a change of job or a change of heart are all fine.
If the seller withdraws, the same steps apply. The agent should tell you in writing that the sale is off and return the deposit without being asked. If a week passes with no money, send the email above. The money was never the seller's, and the agent has no claim on it.
What you can lose
You cannot lose the booking deposit before contracts. You can lose the money you spent on the way: the survey (€300 to €600 plus VAT), the lender's valuation (about €185), and any work your solicitor has done so far. That is the real cost of a sale falling through, and it is why it pays to do the survey early, before you spend on anything else.
The deposit on a new build
On a new build the booking deposit goes to the developer's agent and is held the same way. It is refundable until you sign the contracts, which can be weeks or months before the home is finished. Once you sign, it becomes part of the 10% contract deposit. Help to Buy, a tax refund for first-time buyers on new builds, is paid to the builder at that point and can make up part of the 10%. The new build guide covers the deposits in order.
What happens to it at contracts
When you sign contracts you pay the contract deposit, which is 10% of the price. The booking deposit becomes part of it; the agent passes it to the seller's solicitor. From signing on, the contract deposit is at risk if you fail to complete the purchase. The signing contracts guide explains what binds you from that day.
Where this leaves you
Put your sale agreed date into the buying timeline tool to see when the contract deposit and closing typically fall. The first-time buyer journey lists what to line up in the weeks the deposit is being held, and you can get quotes for the solicitor and surveyor you need in that window.
Questions people ask
How much is a booking deposit in Ireland?
Usually €5,000 to €10,000 for a second-hand home. Some agents ask for a percentage, and new-build developers sometimes ask for more. The amount is set by the agent or the developer, not by law, and it comes off the price.
Is a booking deposit refundable?
Yes. A booking deposit is refundable in full until both sides sign contracts. If you withdraw, or the seller withdraws, the agent returns it. The agent cannot keep any of it as a fee.
Who holds the booking deposit?
The estate agent holds it in a client account, not the seller. An agent with a PSRA licence must keep client money separate from the agency's own money and give you a receipt.
Can I lose my booking deposit?
Not before contracts. Once you sign contracts and pay the 10% contract deposit, the booking deposit becomes part of that 10%, and the contract deposit can be lost if you fail to complete. Before contracts, it is always returned.
How long does it take to get a booking deposit back?
Usually within a week or two of telling the agent in writing that you are withdrawing. Ask for it in writing, keep your receipt, and if the agent delays you can complain to the PSRA.