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Deposit.

#Post
1

How do you pay a house deposit nowdays.

kenw1 - 2021-05-22 15:39:00
2

With Bitcoin
https://www.oneroof.co.nz/news/got-a-spare-1895m-in-bitcoin-
waiheke-home-could-make-real-estate-history-39291

johnn - 2021-05-22 15:56:00
3

own multiple properties and you dont have to... the banks take imaginary equity deposits

Edited by thornton1961 at 4:01 pm, Sat 22 May

thornton1961 - 2021-05-22 16:00:00
4
kenw1 wrote:

How do you pay a house deposit nowdays.

To the nominated stakeholder. That hasn't changed.

johnston - 2021-05-22 16:25:00
5
thornton1961 wrote:

own multiple properties and you dont have to... the banks take imaginary equity deposits

Did this just before Xmas.
Bought at auction with no deposit.
The bank covered the entire amount.

smallwoods - 2021-05-22 17:39:00
6

No I meant can u still use a cheque, you remember those funny paper things, or is it all electronic transfers.

kenw1 - 2021-05-22 18:24:00
7

Electronic transfers. Many banks are phasing out checks.

sarahp24 - 2021-05-22 19:13:00
8
kenw1 wrote:

No I meant can u still use a cheque, you remember those funny paper things, or is it all electronic transfers.

If you are making an offer via (say) tender, then attaching a bank cheque is a sign of good faith. But if you are actually in the process of buying on an existing agreement EFT would be normal.

sparkychap - 2021-05-22 19:14:00
9
sarahp24 wrote:

Electronic transfers. Many banks are phasing out checks.

What's a check?

carstauranga001 - 2021-05-22 19:15:00
10
sparkychap wrote:

If you are making an offer via (say) tender, then attaching a bank cheque is a sign of good faith. But if you are actually in the process of buying on an existing agreement EFT would be normal.

That's not common practice anymore thanks to the AML laws and Tender docs are currently being rewritten to reflect this. Deposits are only paid when a contract is confirmed. Cheques are all but out.

superdave0_13 - 2021-05-22 20:18:00
11
carstauranga001 wrote:

What's a check?

mate

kenw1 - 2021-05-22 21:28:00
12
superdave0_13 wrote:

That's not common practice anymore thanks to the AML laws and Tender docs are currently being rewritten to reflect this. Deposits are only paid when a contract is confirmed. Cheques are all but out.

More nonsense. Deposits can be paid upon signing. Indeed, it used to standard.

johnston - 2021-05-22 21:54:00
13
johnston wrote:

More nonsense. Deposits can be paid upon signing. Indeed, it used to standard.

Which is the same thing in this market.

superdave0_13 - 2021-05-22 22:05:00
14
carstauranga001 wrote:

What's a check?

Where you look over something!

smallwoods - 2021-05-22 22:08:00
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