I am happy because I have just sold a property throuhg an agent.
Apparently, the purchaser have paid the 10% deposit to the trust account
The deposit made was $85K and the settlement day is in 24 days. My question is.....what happens to the interest earned for the deposit within the 24 days? Who keeps it? The agent? Me? or the buyer? I assume it will be all me? And how is the interest calculated? Based on the market interest rate?
Apparently, the purchaser have paid the 10% deposit to the trust account
The deposit made was $85K and the settlement day is in 24 days. My question is.....what happens to the interest earned for the deposit within the 24 days? Who keeps it? The agent? Me? or the buyer? I assume it will be all me? And how is the interest calculated? Based on the market interest rate?