Real estate purchases are often the most expensive item any individual will purchase. This transaction often involves a deposit, a small portion of a proposed offer on the piece of property set aside to ensure the seller the buyer is serious about the offer. The buyer generally places the deposit into escrow.
In an earlier post, we noted the encouraging trend of new development in South Florida. Since then, there have been more signs that the national residential real estate market is improving, and it appears Florida is poised to lead the rebound.