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Out of my completed SA purchases, I've done one at $5k and rest at $1k. The unsuccessful ones were various from $1k upwards - including one REA who had my offer accepted by the vendor and then was promptly told to learn how to swim when he demanded no less than $10k deposit from me.

Thanks Matthew, good to have rea input. On my last deal I utilised the cooling off period to bail from contract. I received form1 on a friday and had to bail by Tuesday, which is what made me think it was 3 days? Also, how come some agents try to get more deposit out of me? Don't they realise...

Use PRS conveyancing tell them I sent them. Some rea will allow a verbal offer, some will make you put it on an offer form. Once its agreed to, rea does up the template contract, its about 10 pages. This has your name (or name you're buying in), your address, the purchase dollar amount...