Paying the deposit

Once all parties have signed the contract you will be asked to pay a deposit. This usually equates to 10% of the purchase price.

Once paid, this deposit is held in a Trust Account until the contract is confirmed i.e. becomes unconditional in all respects. It is then paid to the seller. If the contract does not become unconditional the deposit will be repaid to you.

Mortgage Express can assist you with this. Please visit them at: www.mortgage_express.co.nz