Deposits, Conditions and Dates. Oh My!



What are some things you should know before you get into writing a contract? Here's a couple. 

First, deposits. Deposits are good faith money put down by the buyers. Usually around here, we do it when conditions have been removed, and upon completion, that money will get applied to your down payment or your purchase price. 

Conditions. Conditions are written into the contract for both parties so they can do their due diligence. Buyers write in things like home inspection, making sure your financing is done. Usually, we get seven to 10 days to get our conditions done, so you've gotta make sure that you're gonna be available during that time to do paperwork and all the legwork that's involved. 

Dates. When we write a contract, we say time is of the essence, which means that if you said you'd get it done in a week, you've only got a week to get it done, so make sure that you've got the time to do these things. 

I'm Amanda Oldfield with Royal LePage 100 Mile House out at Interlakes. Have a great day!