Contract Deposit

Did you know…

In a Real Estate transaction to purchase land / property, a Deposit forms part of the contract. The main purpose of a buyer paying a Deposit indicates intent to purchase the property and gives the seller the security of proceeding to settlement. Should the buyer decide not to proceed with the settlement, the seller may retain the deposit as form of compensation.

How much Deposit is Payable?

A deposit figure can be negotiated and agreed to at the time of executing the contract and held in Trust, usually by a Real Estate Agent or Settlement Agent.

If you would like to discuss the above, or require an up to date Appraisal of your property, please contact Scaffidi Real Estate at your convenience.