What Happens to the Deposit When Buying a House?

Know that all deposits are negotiable. Many will say that the required deposit is 5% and this is not true. If you are putting 3% down or 0% for a VA loan, then most likely a buyer wouldn’t have 5% to put in deposits. Another example is a home buyer who is selling their house and utilizing the equity in their current home for the next purchase. They may not have the large lump sum available.

Seller’s like to see 5% of the purchase price in deposits, but again this is not a requirement. This is negotiable.

Other questions Jeff & Jason sit down to discuss are:
- How/When Do the Deposits Work?
- Can I Get My Deposit Back?
- Can I Give Cash as A Deposit?

And check out our other YouTube video on the Seasoning of Funds (REALLY important when using cash as a down payment)!

https://www.boston2.com/blog/what-happens-to-the-deposit-when-buying-a-house/

Jeffrey Chubb | Chubb Homes Team | 617-480-2600 | Jeff@Boston2.com | www.Boston2.com | Brokered by eXp Realty