Estate Funds International Real
As you have likely come to realize, Real Estate is a dollars and cents transaction. Therefore the deposit on the transaction is an important part of the offer. When do you need to provide the money for the deposit? What happens to the deposit money? How much money should the deposit be?
A deposit is money paid in good faith to assure the performance of the Real Estate contract (otherwise know as an Agreement of Purchase and Sale). It works much like department store layaway. You put money into a trust account until the transaction is completed. It is applied to the balance of the purchase price at closing.
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