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Why do you say that, Propertunity? I've always let the bank pay my deposits. :cool:

Yes, but that's a risk in any case. If you have an unconditional contract, the vendor really doesn't care whether your bank has delayed things. Yes and no... it's a matter of degree. Zero deposit: 1) Sue you, go to court, get judge to quantify damages, get a judgement. 2) Enforce judgement...

Yes, if you settle on time, that's exactly right. The main purpose of the deposit in this case is that if you breach, the seller has an automatic right to pursue you for a debt equivalent to the 10% deposit. If it was zero deposit and you breach, they'd have to sue you for damages and...

Remember that the deposit is primarily about having "hurt money" if you default from the contract; it doesn't necessarily have to involve transfer of money at the time you sign the contract. You could have, for example, a 10% deposit, payable on the day that settlement is due. You pay no...