Deposit for interstate purchase

Discussion in 'The Buying/Selling Process' started by laurieload, 6th Aug, 2013.

  1. laurieload

    laurieload Getting there slowly

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    Hi everyone,
    Have done a search and can't find anything..

    Please can someone tell me whether it is common these days to do direct bank transfer into the REA's trust account for a holding deposit/full deposit on an interstate purchase?

    Need to act quickly and no time to do muck around posting cheques off etc.

    Thanks a lot.
     
  2. D_One

    D_One Member

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    In Qld, Once you have signed the contract, it is possible to transfer the holding deposit specified on the contract directly to the REA trust account.

    Not sure about the other states...
     
  3. Kinnon Bell

    Kinnon Bell Member

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    For a QLD purchase I recently transferred my deposit to the vendors' solicitors trust account.
     
  4. Bigtone

    Bigtone Member

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    yes very common
     
  5. Propertunity

    Propertunity Real Estate Buyers Agent

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    ^ ^ what he said. The only time we use cheques these days is at auctions. All other times Direct Deposit straight to the agent's Trust Acct.
     
  6. laurieload

    laurieload Getting there slowly

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    Thank you everyone !:)
     
  7. marks

    marks Member

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    Do the deposit at your local branch and then fax them the deposit stub from the branch.
     
  8. Jamie M

    Jamie M Mortgage Broker - Oz Wide

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    Yep, it's common. I've also done it personally for an interstate purchase.

    Cheers

    Jamie