Should a vendor accept a Deposit of less than 10% on a Property Sale?
Ordinarily a purchaser of a property is required to pay a 10% deposit when a contract is exchanged and then the balance of the purchase price is payable on settlement. It is becoming more common that purchasers are requesting to pay a 5% deposit on exchange rather than a 10% deposit. These requests are being made for a variety of reasons. For example, a purchaser [...]