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Paying deposit for off the plan

Discussion in 'General Property Chat' started by Matche, 11th Jul, 2016.

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  1. Matche

    Matche New Member

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    Recently bought an off the plan property, I paid the deposit (bank cheque). I request a receipt from the agent for my record, the agent just email me and put in writing that she acknowledge the recepient of the deposit. The email was sent from a gmail account, no ABN. Only my property detail and also the amount. Just a bit worry as it looks doggy and not professional. What can I do to protect myself? I just want to make sure everything goes well. Thanks for any advice.
     
  2. thatbum

    thatbum Well-Known Member

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    Protect yourself from what? They already have your deposit money it seems.
     
  3. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    What state is the purchase in? Do you have a solicitor acting for you for the purchase?
     
  4. Matche

    Matche New Member

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    NSW, my solicitor told me it's not his business, I need to contact agent directly to get the receipt... Actually I gave the bank cheque my solicitor and they pass to vendor solicitor. Both solicitors confirmed they receive the bankcheque, but I don't know whether the money is kept in a trust account or anywhere else...
     
  5. euro73

    euro73 Well-Known Member Business Member

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    That's pretty weak from your solicitor. Just contact the vendors solicitor and ask them to confirm receipt
     
  6. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Agree with Euro - get your solicitor to do some leg work on your behalf. An email from a gmail account wouldn't provide me with much comfort either - and it certainly won't be accepted from a bank when you apply for a loan and need to demonstrate that you've paid a deposit.

    Cheers

    Jamie
     
  7. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Contact the agent and ask for a proper receipt on letterhead.
     
  8. kamchatsky

    kamchatsky Well-Known Member

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    Don't they supposed to put the deposit money into a Trust account? I thought that is pretty standard. Otherwise the agent just does a runner.
     
  9. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    ashish1137 likes this.
  10. The Y-man

    The Y-man Moderator Staff Member

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    @Matche

    Who was the cheque made out to? When we started (our first IP was a OTP), in our naivety, we listened to the "agent" and made it out to his company. We even got a receipt with the ABN etc.

    Lo and behold as @kamchatsky alluded to, the "agent" did a runner and ran off with our money....

    The Y-man
     
    Terry_w likes this.
  11. Matche

    Matche New Member

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    Vendor solicitor only confirmed they received the cheque, they didn't confirm vendor received the money
     
  12. euro73

    euro73 Well-Known Member Business Member

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    what I meant was they should have contacted the other side and asked for confirmation of receipt.
     
  13. dabbler

    dabbler Well-Known Member

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    A proper receipt would be something you should not even have to ask for or chase.