All Topics / General Property / The old 10% deposit

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  • Profile photo of garrymartin18120590garrymartin18120590
    Member
    @garrymartin18120590
    Join Date: 2003
    Post Count: 9

    Welcome to everyone
    Something that I came across today is the old 10% deposit at auctions,[:D]
    The realestate agent told everyone before the auction that 10% is required at fall of hammer.[}:)]
    Then when talking to them I mentioned that I never had a cheque book so they said that $500 deposit is ok then the rest on Monday, what is everyone opinion.[?]

    Profile photo of yackyack
    Member
    @yack
    Join Date: 2003
    Post Count: 1,206

    Yeah. thats normal. they really want you to sign the contract. getting the deposit later is ok, as long as you have signed. If you had said i will sign on monday. they would have come down hard on you, they want the sale contract signed.

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