can the dposit for a cash sale purchase be paid to the seller
I have a property that I am selling, I have a cash sale buyer and require a deposit to secure the sale.
can the deposit be paid to me and the balance upon transfer of the property.
There is nothing stopping you from inserting such terms in the sale agreement. It is however high-risk in the sense that there is no collateral fot you to hold on to should he reneged, that is, refuses to pay the balance after the vehicle must have been registered to his name. He can even withhold payment and cite latent defects. Importantly, have it in mind that being a private sale, the Natonal Credit Act will not apply. Ensure the agreement is reducedreduced in writing Thank you.