When Do I Have To Make My Initial Deposit By?

As part of your purchase offer, you will specify the amount and timing of the initial deposit.  The standard terms are 3% of the purchase price, to be made within three (3) business days after your offer is accepted.  However, some sellers request different terms than these standard terms, so it is best to double-check your purchase offer.

Given that the initial deposit is due very shortly after the offer is accepted, we always recommend having those funds readily available when you submit your offer.  The initial deposit is usually wired to the escrow agent, and your agent can provide the wire instructions.  Alternatively, the escrow agent may ask for a cashier's check for the initial deposit.

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Buyers' Guide