Deep dive into Real Estate by Team Laddi Dhillon
We provide educational info to help you make an educated decision in real estate in Brampton and the surrounding area. We dive deep into the world of real estate investing. Discover how to find profitable deals, finance your investments, and manage rental properties. Whether you're a beginner or a seasoned investor, you'll find valuable insights to help you maximize your returns.
Feel free to check out our website https://www.houseinbrampton.ca/ for more info.
Deep dive into Real Estate by Team Laddi Dhillon
EP62 Difference between Deposit and Down Payment Explained
A deposit is an initial sum of money provided with an offer to demonstrate serious intent to the seller, typically held in trust until closing. In contrast, a down payment represents a larger percentage of the purchase price paid at closing to secure the home and reduce the mortgage amount. While the deposit is generally added to the down payment, these terms are not interchangeable and have different timing and purposes in a property transaction. This podcast also touches on variations like builder deposits for new construction.