Purchase of Investment Property

[oneworld]

I have spent 1 whole day searching on the internet, but haven't been able to
find an answer. So can some one please help me with this. That will be very
much appreciated.

I am purchasing an investment property. I have paid .25% holding deposit
from my own money. How do I record this transaction (journal entries) ?  The
questions that came to my mind are:

(i) Is the property an asset, considering that I have not got possession of
the property yet ?
(ii) I have already paid the deposit but the loan transactions are yet to
occur. So can I do a split transaction containing home loan transactions
which will be occurring on settlement (in a few weeks time) ?



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