After offer has been accepted

[JustaDreamer]

Hello,

My offer has been accepted to buy a property to live in but the settlement is not until the 1st of November but the real estate agent is asking for the deposit now.

Do I give him the money or make him wait I thought the deposit is for the bank seeing the loan was 90 - 10.

Thanks Matt.

 

[sanj]

You need to pay whatever you agreed to on the contract, by the date on the contract.

What did you fill in as the deposit in the contract?

 

[VaSSagO]

You normally have to pay some deposit once the contract has been signed, the O&A will stipulate how much to be paid, when it is to be paid by and where it is to be held.