🔍 A common question I get is: where will my deposit go upon acceptance of an offer, and will it be cashed?
✔️ Yes, it will be cashed. Typically, the money is deposited into the listing brokerage’s real estate trust account until the agreement is completed. However, the deposit holder can also be any trustee agreed upon by the buyer and seller, such as your lawyer.
For more real estate insights and tips, follow me on social media or contact me directly at 905-730-2747.
📞 Frank Lombardo, Realtor at REMAX Escarpment
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