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Debra, Lawyer
Category: Canada Law
Satisfied Customers: 99975
Experience:  Lawyer
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Tina, In the case of a cash deal on a condo in Alberta that

Customer Question

Hi Tina, In the case of a cash deal on a condo in Alberta that doesn't involve a realtor, is the deposit held by the lawyer or can it be given to the Vendor? There are no conditions on the deal.
JA: Where is the property located?
Customer: Condo in St. Albert
JA: Has any paperwork been filed?
Customer: no not yet. the deposit is pending
JA: Anything else you want the lawyer to know before I connect you?
Customer: the purchaser wishes to do renovations prior to closing day. The property is vacant. The renovations are all improvements, paint, carpet etc
Submitted: 8 months ago.
Category: Canada Law
Expert:  Debra replied 8 months ago.

Hello! My name is***** you for your question. I'm reviewing it now, and will post back again shortly.

Expert:  Debra replied 8 months ago.

If the buyer and seller agree they can do what they want with the deposit.

Generally it is held in trust by the realtor or else a lawyer but there is no law that requires this.

Does that fully answer your question?

Please feel free to post back with any follow-up questions you may have. If you don't have any then I hope I have earned a 5 star rating but if you don't feel that I have please don't hesitate to reply back and let me know what more I can do to assist you. Finally, please know that even after you rate me I will be here for you and you can ask follow-up questions if you think of them later on at no further charge of course.

Expert:  Debra replied 8 months ago.

Is there anything more I can help you with at this point in time?

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