Just as with many financial transactions, buying a house comes with its own process, terminology and regulations that can feel daunting to those making the purchase. This is just one area where a qualified real estate agent can be a huge help, as they will offer guidance and advice on what to expect, as well as what you’ll need in order to complete the transaction. Before you even start to seriously look for your next home, take the time to find the right Oakville realtor that will understand your needs and make the buying process easier for you.
So, if you’ve found the home you want to buy, it’s time to get down to the financial details. Let’s take a closer look at what a deposit and a down payment entails, as it relates to purchasing a home.
When Do You Need a Deposit?
A deposit required for a real estate purchase is an amount of money included with a purchase contract as a sign of good faith. In legal terms, it is the consideration...