Client Direct Edition_June 7, 2010

Sizing up purchase deposits


In most states, it's customary, or required by law, for the
buyers to include a good faith deposit when they make
an offer to purchase a home. The deposit should not be
given directly to the seller, but held by a trustworthy third
party that maintains a trust account specifically for home
purchase deposits, such as an escrow or title company,
real estate firm, or real estate broker.

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