ARTICLE · 06 JUNE 2017

When Real Estate Deposits Get Stuck After A Failed Transaction

The Ross Firm

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The home-buying adventure is done. Buyer seals the deal with seller. Broker finalizes the paperwork. All parties sign on the dotted line and deposit monies goes into a broker trust fund.

CanadaReal Estate and Construction

The Ross Firm

On behalf of Quinn Ross of The Ross Firm Professional Corporation posted in Residential Real Estate on Friday, May 26, 2017.

The home-buying adventure is done. Buyer seals the deal with seller. Broker finalizes the paperwork. All parties sign on the dotted line and deposit monies goes into a broker trust fund.

Though this may be the most thrilling time for a home-buyer, it could still be fraught with risk. In a typical home purchase agreement, numerous conditions must be met by both the buyer and seller in order for the sale to fully actualize. Processes for financing, rezoning approval, or a home inspection could still be pending - all after your deposit funds are no longer in your bank account.

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