Glossary
Glossary of terms and acronyms related to Australian banking, finance and investments.
Holding Deposit
A holding deposit is a small fee made to indicate one's interest in buying a property. It shows the seller that you are seriously interested in the property and serves as a go-signal to take further action. The holding deposit does not guarantee a sale or lease, but rather tells other buyers that someone has already expressed interest in the home. The fee is usually refunded when the sale goes through, but some sellers choose to keep it as reimbursement for the cost of arranging the sale, such as credit checks and solicitor's fees.
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