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Yanchep
Oct 20, 2022, 15:03 PM -
Youngs Siding
Oct 20, 2022, 15:03 PM -
Wyalkatchem
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Wundowie
Oct 20, 2022, 15:02 PM -
Wyndham
Oct 20, 2022, 15:02 PM -
Woodbridge
Oct 20, 2022, 15:02 PM -
Wonnerup
Oct 20, 2022, 15:02 PM -
Woodvale
Oct 20, 2022, 15:02 PM -
Wilson
Oct 20, 2022, 15:02 PM -
Willetton
Oct 20, 2022, 15:02 PM -
Wickham
Oct 20, 2022, 15:02 PM -
Witchcliffe
Oct 20, 2022, 15:02 PM -
West Perth
Oct 20, 2022, 15:02 PM -
Wembley Downs
Oct 20, 2022, 15:02 PM -
West Leederville
Oct 20, 2022, 15:02 PM -
Warwick
Oct 20, 2022, 15:02 PM -
Waterford
Oct 20, 2022, 15:02 PM -
Wembley
Oct 20, 2022, 15:02 PM -
Walpole
Oct 20, 2022, 15:02 PM -
Warnbro
Oct 20, 2022, 15:02 PM
What is a deposit?
Oct 10, 2022, 16:52 PM
Title :
What is a deposit?
In order to secure the sale of a property, a common condition of the Contract for the Sale of Land/ Strata Title is that the seller will receive a deposit from the buyer.
This deposit is generally 10 per cent of the selling price, but this can vary case by case.
When a deposit is required, the seller nominates who holds the deposit (usually the seller's agent) in trust until settlement.
The seller's agent may comply with a request that the deposit be placed in a separate interest earning account if they are satisfied the deposit exceeds $20,000 or that the transaction is not to be settled within 60 days.
The seller's agent cannot release a deposit without the agreement of all parties.
If a deposit is required but not received by the nominated date then the seller can terminate the contract and proceed with any other offers.
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