What is a deposit?

Purchase
General

In real estate, a deposit is a sum of money paid by the buyer to the seller, which constitutes a partial payment of the total amount due.

When is it necessary to pay a deposit?

 

Generally, a deposit is paid at the first appointment with the notary in a forward sale. It usually represents 10% of the sale price of the property. This amount guarantees to both parties that the final sale will take place on the date stipulated in the contract.

By Charline Demange, July 28, 2022

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