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Tip 45 – Development financing – The power of bigger deposits

There is no longer a 10% limit on deposits for off the plan strata sales.  You can take up to a 20% deposit without the sale becoming an instalment contract.  Taking a 15 – 20% deposit, and buyers agreeing to pay it, will provide more confidence and security to your prospective financier. By asking for the deposit progressively, and sharing the interest fairly, you can also minimise the impact on buyers.