Do Not Be Late Paying The Deposit!
So you have signed a contract to buy a property!
Make sure you are not late with the deposit.
Deposit payment terms are noted on page three of the contract. Our standard line is 3 days after contract date.
However we often find a lack of urgency with buyers, who leave paying the deposit due on a Contract of Sale to the last minute. To then find their withdrawal limit does not allow them to pay the amount in one hit, so it is stretched to several days. Sometimes a week.
The deposit line is an essential term of the contract. We cannot do anything to vary an essential term of the contract without express, written instructions to do so from the seller.
Non-payment of the deposit by the agreed date is a breach of contract. The seller can terminate the contract - even if unconditional.
So pay attention to the terms of the contract you are signing. Make sure you have your ducks in a row to complete the deposit on time, like increasing your limit temporarily, or going to the bank to do a bank transfer in person!
And always check the bank account number you are transferring to.