Browse Forums Real Estate 1 Jan 18, 2010 1:43 pm We have sold our house and purchaser has paid a $20K deposit. If the purchaser pulls out for some reason, who gets the deposit. Would we receive all of it or do the agents take their fee? (even though the house hasn't sold?). Thanks Re: Deposit question 2Jan 18, 2010 8:38 pm Depends on which state you live in - you get .25% of the purchase price if the vendor pulls out during the cooling off period. Unless they do this there is little to no chance you will recieve anything as if they pull out it will be using the finance declined line or failed building/pest report. The fact they gave a 20k deposit means they probably wont be using the finance line and they wont use the cooling off period either unless it is in their best interests. Seems you have a good buyer. If worst happens the RE get nothing. In NSW the maximum deposit for building work is 5% until the builder provides HBCF insurance 1 4813 thank you! do we need to get this or our builder before we commence new build on the block? 2 10261 You can really use anything you want the main consideration would be how it looks once painted/finished - or the look you want. Cabinetmakers use MDF because its cheap… 2 9943 |