Selling Privately... who holds the deposit?
Reply: 1.1.2.1.1.1.2
From: Ross Sondergeld
Hi Owen,
Selling/Buying Privately... who holds the deposit?
Owen said, "When I asked my conveyancers about this they said that usually
when you are buying your deposit goes into the sellers
conveyancer/solicitors trust account if they have one or the real estate
agent trust account."
(In QLD) When i buy for people and we do an "off market" deal... i always
let the buyer's solicitor hold the deposit money.
(* Note - I'm a licensed r/e agent & i don't operate a trust account.)
Simple. Most of the time... the buyer and seller don't really care.
Personally i always prefer to let my representative (i.e. solicitor) be the
stakeholder/deposit holder.
Ross Sondergeld ~ Buyer Agent
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