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Today Greg Jamison from Jamison Fisher Solicitors and Accountants discusses the topic of exchanging contracts without a deposit or with a partial deposit. He explains that a contract must have some form of consideration to be valid, so exchanging without any deposit is not possible. In cases where a buyer cannot provide the full ten percent deposit, agents are advised to put down the full ten percent on the contract and make a note that a smaller amount, such as five percent, has been received. This is to ensure the contract meets legal requirements.