Everything You Need To Know About Real Estate Deposits

Everything You Need To Know About Real Estate Deposits

When buying a home, we tend to focus a lot on the down payment that’s due at the time of closing, but did you know that you also have to submit a deposit to the seller within 24 to 48 hours of your offer being accepted in order to solidify the contract? If you don’t have the funds readily available to pay that deposit, you could lose out on that property.

So when should you have that money? Does it count towards your down payment? And what do you do if your deposit is wrapped up in the equity of your current house?

Here’s everything you need to know about deposits…

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to Top