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News & Publications Glossary Deposit
News & Publications Glossary Deposit
Deposit
The amount of money paid by way of consideration to initiate the contract. Traditionally, the deposit is set at 10% although where the property is an expensive one, the amount received may be lowered. Usually the agents allow for the deposit to be at least equal to the agent’s commission.
When I moved to Brisbane in the early 90's I needed to establish relationships with all of the usual professional service providers.
As I was purchasing a home, one of the most pressing needs was to find a Brisbane based solicitor. My primary criteria when engaging professionals, is that I am not looking for a quick fix - I am looking for a long-term relationship. A friend suggested I contact Myles Murphy.
Margy Taylor (Mortgage Broker)
Brisbane
