Glossary · Buying & selling
What is Deposit?
A deposit is money a buyer puts down with an offer to show good faith, applied toward the purchase at closing.
Definition
Also known as: Earnest money
The deposit accompanies your offer and demonstrates you're serious. It's typically held in trust and credited toward your down payment and purchase price when the deal closes.
If you back out without a valid condition, you may forfeit the deposit, so it's important to understand the terms before submitting it.
When deposit matters
- Strengthening an offer
- Showing good faith to a seller
- Understanding what's at stake if you withdraw
With Homeprint
How Homeprint helps with deposit
Homeprint keeps your transaction paperwork organized, including deposit receipts and trust statements.
- Keep every related document in one secure place
- Track your home's value and finances over time
- Stay connected with trusted neighbourhood experts
Deposit — FAQ
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