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How much deposit should I ask for?

It is up to you how much deposit you want to ask for but by law it should not be higher than 10% of the purchase price. A deposit does not have to be paid under the contract, however it is in your interest to have it paid as it is your security under the contract. If the buyer signed the contract, paid the deposit, but is otherwise unable or unwilling to complete afterwards, you may be able to claim the deposit paid.
You should discuss with your real estate agent on what is the appropriate amount to ask for on a case by case basis. Remember that whilst the deposit is a consideration, it is not the only consideration on whether your proposed buyer is genuine about their offer to you.

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Lead Legal Services Pty Ltd (ABN 86 640 514 558)
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Our Recent Reviews

Judith Williams Avatar
Judith Williams
23 Nov 2023
Great company to deal with during my purchase, Erica Gruen (who was my paralegal) especially. Erica made the process easy to understand and answered all my questions (of which, there were many!).
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Fate Avatar
Fate
15 Nov 2023
Happy with the service, although it wasn't always straight forward. Everything ok in the end - and that's what's important.
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Chiran Attanayaka Avatar
Chiran Attanayaka
15 Nov 2023
Very professional service, every time my solicitor went on leave the other one emailed me and took over the file, kept sending important reminders, continuously followed up with the sellers solicitor, bank etc. Great friendly service.
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