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Harveys Real Estate Papakura
call us on 09 298 4000
Licensed Agent REAA 2008

Purchase Deposit

How much deposit do I need to buy a property?

While a good general rule for anyone planning to live in the property they buy is that they'll need a deposit of ten per cent of the purchase price, this can vary depending on a number of factors.

These include the type of home loan you are seeking, as well as the lender you choose. Anyone purchasing a property for an investment is generally required to provide a deposit worth ten per cent of the purchase price.

Your deposit may come in the form of savings - usually from at least the past three months - as well as contributions from other avenues, which can include family assistance, gifts or bonuses.

What happens to the deposit paid to the agent?

When a contract is signed, a ten per cent deposit is usually required. In some cases, an agent may ask for a smaller amount to be paid when an offer is submitted. 

When you pay your deposit to an agent, it will be paid into a trust account they operate. No interest is payable from this type of account.

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Harveys Real Estate Papakura call us 09 298 4000 or email myharveys@myharveys.co.nz 319-323 Great South Road Papakura | Auckland

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Buying a home with My Harveys Papakura
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Selling a home with My Harveys Papakura
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