What is a Deposit Structure?

Deposits and When to Pay

When buying a resale condo, most often you will have to put down a 5% deposit. On a presale condo, however,  you are often required to have at least a 20% down payment.

20% is a lot of money you might be thinking about now. Well, this deposit is broken down into multiple payments. This is what they refer to as a deposit structure.

Here is an example (this is an example only):

• $2,000 at the time of writing an offer


• Balance of 5% in 7 days


• 5% in 90 days


• 5% in 180 days


• 5% at occupancy

Developers are usually firm on the deposit at the beginning of a project, simply because they also need financing. Sometimes you will find them to be more relaxed and flexible when the project is almost sold out, or have finished building and are marketing the remaining suites.