It’s a question we get a lot:
"Are the deposit noted in the sale and purchase agreement and your overall deposit the same thing? Are they different? Do you need to come up with more money?"
The short answer is no—they all fit into the same deposit.
Understanding How Your Deposit Works
When we help you set your budget, we talk about your overall deposit—whether that’s 10%, 20%, or more. That full amount is still your deposit, but how it’s paid is split into two parts:
Deposit on Unconditional Day
This is the amount written into your Sale and Purchase Agreement—usually 10% of the purchase price—and it’s paid when you go unconditional (after your due diligence checks are complete).Remaining Funds for Settlement
The rest of your deposit is paid to your solicitor ahead of settlement day, when the property officially becomes yours.
So you can think of it like two 10% lots if your total deposit is 20%:
✅ 10% paid when you go unconditional
✅ 10% paid to your solicitor for settlement
What Can Make Up Your Deposit?
Your deposit can be a combination of:
KiwiSaver
Savings
Gifts or inheritance
We’ll work with you to figure out what’s best for your situation and how to structure it so everything lines up when needed.
So overall, the Sale and Purchase Agreement deposit isn’t extra—it’s just the first part of your overall deposit, paid earlier in the process. It’s all coming from the same pot!
Still have questions? We're here to make it clear and simple - contact us today.