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Is there a deposit required on pre-construction purchases?

April 26, 2017deposit pre-construction purchases

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Is there a deposit required on pre-construction purchases?

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a. There is a reservation deposit required which is placed in Escrow with Commonwealth Title of Central America. The terms of the escrow account will be in the sales and purchase agreement. After the reservation deposit, you will be required to make 2 additional payments, the 1st when signing the sales and purchase agreement and the second within a specified time period.