People who are in the market for real estate may not realize that the deposit amount can be negotiated with the seller. The law does not provide any minimum for deposits and there is also no standard by which deposits are set. Deposits are usually made in order to demonstrate a buyer's commitment to purchase the property.
Negotiating deposit amounts for real estate in Ontario
Ontario government initiates new real estate rules
In an effort to stop unethical practices by sales agents in Ontario's hot housing market, the provincial government has announced new rules governing their recordkeeping. The market, with its record-low interest rates, has rebounded with ferocity, instituting bidding wars for buyers in places such as Toronto.
