Found 1 blog entry tagged as Home purchase process.

Embarking on the journey of buying a house can be as exhilarating as it is bewildering. Amidst the whirlwind of real estate jargon, two terms often pop up: "Deposit" and "Down Payment." Are they one and the same? Well, let's put on our detective hats and delve into this intriguing case of home buying in order to demystify the difference between a deposit and a down payment.

Part 1: The Deposit

The Deposit - a term that exudes intrigue. Let's start by unraveling its mysteries.

A deposit represents the funds you offer to a home seller when making an initial offer on their property, serving as a demonstration of your dedication to the purchase. It instills the seller with assurance regarding both your eagerness and financial capability to…

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