Hi there, we are planning to put almost 40% deposit on the purchase price on a property. This is for a PPOR which we do not intend to convert to an IP as it is semi rural and I personally don’t think it will have a very good rental yield. Being rather new to the buying process, we are wondering what the risks would be. I would assume the deposit is only payable when the contract goes unconditional. However is there anything that could happen between the contract going unconditional and settlement that could cause us to lose our deposit. Is there a better way to do this to minimise our risks? Is it a good thing to put down such a big deposit anyway?
We would appreciate any thoughts or feedback. Thanks in advance
We would appreciate any thoughts or feedback. Thanks in advance