Reservation Contracts and Reservation Deposits, and Cautions

A reservation deposit is used when (but not limited to) selling (purchasing) a property through a real estate agency. It is a kind of valid, interest-free principal, a deposit by which the party purchasing the property agrees to purchase it. It is a guarantee for the real estate agency, confirming that the buyer is genuinely interested in the house, apartment, cottage, or land. Both parties benefit from it: the real estate agent, who receives a “fictitious” fee for his work, and the buyer, who is assured in advance that he is genuinely interested in the property. All that remains is to draw up a sales contract and proceed to the next step. The deposit and the contract also assure the buyer that the realtor will not offer the property to any other interested party.
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What the buyer must know, however, is that it is not just a symbolic fee of a few hundred kronor. As a rule, it is 5 to 10 percent of the purchase price of the property. Thus, it is not an insignificant amount, and one should be familiar with the details contained in the reservation agreement.

The moment when the reservation fee is forfeited by the real estate agent is a terrible one for every buyer. This is because the commission in this case serves as a reasonable penalty if they intend to cancel the purchase of the property. An even worse case occurs when the sale is blocked by the seller. The reservation fee is refundable, but the problem tends to be with the mortgage. If the buyer cannot prove that the seller is at fault for not completing the sale, the bank will demand a penalty of tens of thousands of kroner for the settled mortgage.
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The reservation contract must have all the requisites, otherwise it is void

The reservation contract must be made between the seller and the buyer, i.e., between the real estate agent and the buyer, not between the seller and the buyer. In other words, unless the real estate agent, as an individual, directly obtains a power of attorney to represent one of the parties, the real estate agent exists only as an intermediary. In other words, the contract between the intermediary (real estate agent) and the buyer is void! Unfortunately, there is no law today that defines the exact definition of a reservation contract and the amount of the commission. The contract must include the due date for payment of the price, as well as the terms regarding the refund of the commission. Notary or attorney escrow must also be used to pay the booking fee. There is a fee for this service (approximately SEK 5,000), but you do not lose any money.