When do I pay a deposit, how much is it normally, and what happens to my deposit?

The buyer pays the deposit within a short period of time following removal of all subjects. The buyer normally pays this money to its realtor, who holds the funds in its trust account pending completion. The buyer and seller normally should negotiate the amount of the deposit. Should the buyer not complete, the seller can claim the deposit and treat the contract as at an end. For this reason, it is in the buyer’s interest to keep the deposit amount as low as possible. We normally do not see deposits less than $5000.00.

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