Deposit on Promesa de Compra

yeptruthhurts

New member
Feb 10, 2021
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Going to meet with a lawyer this week but would like heads up on this. When signing a contract "promise to Buy", you have to put down a deposit that is usually 10% of the cost of the property. Who does that go to? The realtor is telling me directly to the seller.. which is ok for me... but just wondering.
 

johne

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Jun 28, 2003
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Going to meet with a lawyer this week but would like heads up on this. When signing a contract "promise to Buy", you have to put down a deposit that is usually 10% of the cost of the property. Who does that go to? The realtor is telling me directly to the seller.. which is ok for me... but just wondering.
Are you buy property as in land or a house?
 

Yourmaninvegas

Well-known member
Feb 16, 2016
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Going to meet with a lawyer this week but would like heads up on this. When signing a contract "promise to Buy", you have to put down a deposit that is usually 10% of the cost of the property. Who does that go to? The realtor is telling me directly to the seller.. which is ok for me... but just wondering.
When I bought raw land.
My attorney researched and made sure that the title and several other documents (cannot remember the name of them) were in order.
That was before any money changed hands.
And the deposit went directly into the sellers bank account.
Throughout the entire transaction, no money moved until my attorney gave me a (y) .
That was my experience.

Bring on the pain
I like your name‼️
 
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