The Deposit

The Deposit

When buying real estate, you will have to make a deposit. I suggest having the deposit due 5 days after the purchase agreement is fully executed.
Don’t give a check to a seller. Find a title company that can be used to run the title and help you and the seller clear the title if necessary. They will also take the deposit and hold it until the closing date. The title company will write up an agreement about how the buyer can get their money if the sale is canceled.

 

About the Author

Lynn Drake’s status is well known in the industry: She’s the commercial realtor focused on maintaining “true north” for her corporate clients. It’s a reputation built on 35 years of commercial real estate experience. Lynn became a commercial realtor in 2001 after 15 years in corporate real estate. Thus far in her career, Lynn has successfully completed over 1,500 real estate transactions ranging from small business tenant leases to the sale and purchase of industrial complexes.