(Closed) 100% deposit normal?

posted 7 years ago in Money
Post # 3
Member
41 posts
Newbee
  • Wedding: August 2010

It sounds a bit fishy to me. I’ve never heard of any venue that required 100% deposit up front. 

Post # 3
Member
41 posts
Newbee
  • Wedding: August 2010

oops double post

Post # 4
Member
1057 posts
Bumble bee
  • Wedding: December 2010

Oh my gosh that’s crazy. There is usually a 25-50% deposit but I have never heard of a venue wanting 100% up front. That almost sounds a bit fishy. I also looked at a venue that requested 100% down and they shut down just last month. Good thing I didn’t give them any of my money!

Post # 5
Member
548 posts
Busy bee
  • Wedding: June 2017

Well my all inclusive venue (ceremony and reception) is costing us approximately 7,000.  The day we booked the date we had to put down a $500 deposit and then a second $500 deposit in February.  The balance is then due the night of the event.  I think it’s ridiculous that they want it ALL up front and I would be suspicious of it.  What happens if they go bankrupt and you loose it all?  I wouldn’t do it.

Post # 6
Member
753 posts
Busy bee
  • Wedding: October 2011

Yes that definitely does not sound right to me.  We have put down deposits on our venue, cake, and the vendor making our out of town baskets and place cards and not one of them has had us put down 100%.

We put down the desposit on our cake yesterday and it was less than 20%.  As for the venue, it was about 33% with a second deposit due in April (full amount due the week before our October wedding).

 

Post # 7
Member
5388 posts
Bee Keeper
  • Wedding: December 2010

I’ve never heard of such a thing. I would not book with them.

Post # 8
Member
689 posts
Busy bee
  • Wedding: August 2011

I’ve never heard of that. Most require at most 50%. I would ask around before booking this venue. Or maybe just find another one. 

Post # 10
Member
2410 posts
Buzzing bee
  • Wedding: July 2011

Although I have yet to come across that, ou should check what is typical for your area and also look the venue up on the Better Business Bureau. If they don’t have any complaints or negative issues and other peole who use them say this is typical then I think you can go ahead. It all depends on what the contract says. They may well just be in extremely high demand.

Post # 11
Member
10288 posts
Sugar Beekeeper
  • Wedding: October 2011

Thats a little sketchy. I too have an “all inclusive venue” (thanks for that karatechick! I’ve been trying to think of an easier way of describing my venue since it includes our ceremony, reception and all catering) which is costing us a little more than $5,000 and they required 1/3 upfront to secure the date which I thought was a bit much. Having to pay for the entire thing upfront is strange. I’ve never heard of such a thing and I would definitely be weary if I were you. 

Post # 12
Member
824 posts
Busy bee
  • Wedding: April 2011 - The Tribute Golf Club

That sounds a little odd.  We paid a deposit, and then a payment 6 months later (we booked about 20 months before our wedding) and the final amount is due a week before the wedding.

Post # 13
Member
10288 posts
Sugar Beekeeper
  • Wedding: October 2011

@KaitlinHudson: I didnt even think about them shutting down! 

Generally if a venue goes out of business, anyone who has paid deposits normally loose that money. Could you imagine how horrible it would be to be out that much?! Also, if something unexpected were to happen and you had to move your date, you would probably get screwed too.

Post # 14
Member
75 posts
Worker bee
  • Wedding: April 2018

I agree 100% is not a deposit that’s full payment and I find sketchy.  A deposit is considered partial payment.  Where is this place?  Have you visited the place yet?  Negotiating in person would probably be best.  Or is this a destination venue?  If it’s a destination venue, even more reason not too book at full payment, despite how much you love it.  If you do decide, to opt to do the full payment I would definitely invest in insurance.

Post # 15
Member
861 posts
Busy bee
  • Wedding: September 2011

Yeah, that’s not the norm.  A deposit is expected but that usually ends up being a percentage-not the whole cost!  Have you looked over the contract details at all? 

Be careful!

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