Let's Talk About Deposit Cheques!

This is one that many sellers ask questions about... where does it go? When will I get the money?

And the answer... well, you will get the money after possession. You don't get the money when the offer is made. That money sits in a non-interest-bearing trust account at the listing broker's office. From there it sits and waits.

The lawyers and offices talk and lawyers will request the funds when necessary. Often the money stays at the brokerage to pay commissions rather than sending it back and forth.