Real Estate Deposits in BC - Deposits 101

What is a deposit is in real estate? Mariko covers the basics of deposits in real estate, and goes over other important information such as who holds the deposit, differences between presale vs resale deposits, how much is a deposit, when the deposit is due with example timelines, and more! If you're thinking of buying (or selling) real estate in BC, then this video will be helpful for you. At Bridgewell, we understand that the costs involved with buying and selling real estate in BC and Canada can be a bit overwhelming at times. Our team is here to break down these costs for our clients, and are with them every step of the way to make sure they have all the knowledge & tools they need in their real estate journey. If you're looking to buy or sell in the Greater Vancouver area, reach out to our team today! TIMELINE • In this video, we discuss: 0:00 • Introduction 1:05 • What is a deposit? 1:30 • What is a deposit vs downpayment? 1:45 • When are the deposit and downpayment due? 2:00 • Key differences between deposit vs downypayment 2:10 • Who holds the deposit? 2:30 • Difference between a resale vs presale deposit 3:15 • Important note for sellers in regards to deposits 4:20 • How much is a deposit in real estate? 5:45 • When is the deposit due? 6:20 • Example timeline of when a deposit is due for an offer WITH SUBJECTS 7:45 • Example timeline of when a deposit is due for an offer SUBJECT FREE 10:35 • If I collapse an offer, do I lose my deposit? 11:40 • Example of when you could lose your deposit 13:17 • Recap & Conclusion -- 🔹CONTACT INFO🔹 TEAM BRIDGEWELL REAL ESTATE GROUP 📲 Direct phone: 604-319-0200 (we love texting!) 📩 Email: hello@bridgewellgroup.ca 🖥️ Visit: https://www.bridgewellgroup.ca 🔹◽🔹◽🔹◽🔹◽ STAY IN TOUCH ON SOCIAL: Instagram:   / bridgewellgroup   Tik Tok:   / bridgewellgroup   Facebook:   / bridgewellgroup   Twitter:   / bridgewellgroup   🔹◽🔹◽🔹◽🔹◽ Want to find listings and know how much homes are selling for FASTER? Sign up for our PCS system to receive instant notifications to your email for new listings and sale activity: https://bridgewellgroup.ca/pcs-signup/ Are you ready to BUY or SELL in the Coquitlam, Greater Vancouver/Fraser Valley areas?! Contact BRIDGEWELL REAL ESTATE GROUP - we are one of the top producing teams in Coquitlam and the Greater Vancouver area and can help make the process of buying or selling as seamless as possible! SUBSCRIBE TO THE CHANNEL HERE: https://www.youtube.com/c/BridgewellR... More Coquitlam neighbourhood information here: https://bridgewellgroup.ca/coquitlam-... COQUITLAM REAL ESTATE OAKWYN REALTY LTD. VANCOUVER BC HOMES, TOWNHOUSES & CONDOS GREATER VANCOUVER BC REAL ESTATE FOR SALE #vancouver #realestate #coquitlam #presales