The Course, “Just Deposits”, basically covers all you ever wanted to know about deposits.
When it comes to deposits, ask yourself the following questions:
- Is a deposit necessary?
- What happens if it is late?
- May the Seller cancel the contract?
- Is it necessary to sign a Mutual Release before re-listing?
- Is the Release necessary before the second sale?
- How much should the deposit be?
- When is it too small?
- When is it too large?
- Should it bear interest?
- What does a Stakeholder require to release it?
- When is it due?
- What if it is late by a minute?
- What is required for delivery of a deposit?
- Must it be certified?
- What happens if the cheque doesn’t clear?
- Who gets the deposit if the Seller defaults?
- Who gets the deposit if the Buyer defaults?
- What happens if the Seller sells for more money to the second Buyer?
- What should you do to protect your Buyer if you are going to be late?
- And, what if……the deposit……????
That’s somewhat of an Outline of various questions addressed in this Course.
Brian Madigan LL.B., Broker