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From: Lan Diep
How does one usually make payment at Auctions?
(a) 10% deposit with a cheque?
If the deposit money is being held in a term deposit, is it possible for the bank to issue a letter saying that the purchaser has the funds up to $xx and payment can be organised in the next few days - to avoid taking the deposit out of the term deposit, when there is a chance that the property may not be brought on the day of auction!
Any other methods?
How does one usually make payment at Auctions?
(a) 10% deposit with a cheque?
If the deposit money is being held in a term deposit, is it possible for the bank to issue a letter saying that the purchaser has the funds up to $xx and payment can be organised in the next few days - to avoid taking the deposit out of the term deposit, when there is a chance that the property may not be brought on the day of auction!
Any other methods?
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