What deposits are required to purchase a property in Tropical felgate?
An initial earnest money deposit of US $5,000 is required on the date the buyers select the property and the Purchase & Sale Agreement is executed. According to the terms of the agreement, the balance of the initial deposit equal to 20% of the purchase price is due in US dollars within 5 days of the date of the contract. Additional deposits are due: 20% at notice of commencement of construction and the final 20% deposit at completion of the building roof. In some cases, the building may already be under construction and the additional deposit amounts are due within 5 days of the contract. This deposit schedule applies to the purchase of condominiums, town homes, or villas. The purchase of a home-site requires a US $10,000 initial earnest money deposit and an additional 20% deposit due within 15 days after the date of the contract. Deposit requirements are subject to change without notice.
