What happens to my deposit while I wait for bond registration?
This is agreed between you and the seller in the offer to purchase. Usually the money is deposited into a trust account of either the transferring attorney or estate agent, or you can elect to deposit the funds in an account that Buyer’s Trust will set up for you. All of these options are interest-bearing accounts.
Learn more about the benefits of using Buyer’s Trust.
Related questions
- Where can I get an Offer to Purchase form?
- Paying the conveyancing attorney. What are conveyancer fees?
- What does an Offer to Purchase cancellation letter need to contain?
- Is making an offer on a house binding?
- What does ‘under offer’ mean?
- Can you withdraw an offer to purchase a house in South Africa?