0402 203 303 rob@rwfs.com.au

Frequently Asked Questions

Feel free to browse the FAQs.
What if I don't have a deposit to exchange contacts?

When you’ve found the right property and need a deposit to secure the purchase, I can organise a deposit bond for you.

A Deposit Power Guarantee is an ideal substitute for the cash deposit required when purchasing a residential property and can be issued for all or part of the deposit amount required, up to 10% of the purchase price.

This means that when you are purchasing a residential property, you don’t have to pay the deposit in cash when the contracts are signed; you simply pay the full purchase price to the vendor at settlement.

A guarantee from Deposit Power is the perfect solution for first home buyers or home owners with funds tied up in their current property. As long as you have the funds available at settlement, with Deposit Power you are in the position to buy your perfect property as soon as you see it, and you don’t need to wait to arrange the deposit in cash.

And Deposit Power has guarantees to suit both short and long term settlements, allowing you to purchase existing homes, buy off-the-plan homes or build your own home on a vacant block.

I can assist you with issuing a bond for you to exchange contracts.

What costs are associated with property purchase?

When purchasing a property, a minimum of 5% deposit is required. Most banks like to see this saved over a period of at least three months, however, I do have access to lenders who will consider your application if the deposit has been held for a shorter period or if it has been gifted to you.

As well as your deposit, you may be required to pay stamp duty. This is based on the purchase price of the property, however, there may be exemptions or concessions if you are a first home buyer or if you are building. For more information on NSW stamp duty costs, click on the link below to visit the NSW Office of State Revenue website or you can call me on 0402 203 303 and I’ll go through it with you.


When you buy or sell a home, it is necessary to sign a contract and unless you have experience in the area, we suggest you contact a solicitor or conveyancer to handle this for you as they have access to everything needed to make the exchange and settlement as stress free as possible. Conveyancing costs can differ so shop around.

If you are buying an established property, it is advisable to have pre-purchase pest and building inspections carried out by a licensed professional. These need to be done prior to exchange so if the inspection finds any problems, you can make a decision whether to go ahead with the purchase or re-negotiate the price.

Lender application and valuation fees vary greatly but are often waived depending on the loan amount and which lender you choose.

In some circumstances, it may be possible to borrow the money to cover the associated costs but at minimum, you will need 5% deposit.

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