eXp Canada Provincial Agent Centre
Deposit cheques MUST be certified and submitted within 24 hours upon receiving it. Deposits take a few days to hit the account. 1-3 business days for Bill Payments and Wires (International Wires can take several weeks). Ensure that your client obtains proof of money transfer!
If the cheque is received from someone other than your clients (IE parents), you will need to FINTRAC the person that provided the cheque plus ask if they were 3rd parties to the deal and add them as a 3rd party on FINTRAC if they are.
For support regarding deposits, contact the Deposit Team at [email protected] or call 1-833-497-4422
Click below to complete the short form and receive the all-in-one deposit instructions.
**A list of available lending institutions for bill payments will be listed once the form is submitted.**
The Deposit Delivery Instruction document that will be sent upon filling out the form above will include instructions for all deposit methods:
Also, once the form is submitted the listing agent will receive a copy of the form showing the details of the deposit, the deposit team will be able to use this form as a tracker to know what deposits are expected.
PLEASE follow the instructions below the MINUTE the deposit is late! You could lose your Real Estate license if not done ASAP! Make sure you document and keep a copy of everything!!!
Email your client, CC a managing broker and CC skyslope file email the following:
Dear Seller, I would like to inform you that the deposit for the purchase of ____________________ due on _____________ by the other party was (not received) or (not received until________). I am advising you to seek legal advice.
Step 1 – Email the Buyer and CC a managing broker CC skyslope file email
Dear Buyer:
The deposit for the purchase of ____________________ was due on ________. We have not received the deposit. I am advising you to seek legal advice. If you wish to cancel the sale, please fill out the attached collapsed deal form and email back to me.
STEP 2. Email the Sellers agent and CC a managing broker CC skyslope file email
Dear agent:
This is to notify you that the deposit for the purchase of ___________ due on ______________ has not been received. Please forward this email to your managing broker and CC me and my manager who is also CC’d in this email.
Seller has 2 options:
1. Cancel the sale contract – sign collapsed deal form. Seller should relist the property to mitigate damages and if Seller sell for less, Seller could likely sue Buyer for lost. But DON’T give advice on this, have them speak to their lawyers.
If Buyer paid the deposit but was late, Seller still has the right to cancel the contract. Buyer and Seller will then have to decide who the deposit goes to.
2. Have the buyer buy it still regardless of late deposit
If Buyer paid deposit – have seller sign late deposit form
If Buyer doesn’t pay deposit, advice Seller to speak to lawyer about the options
The eXpert Care Desk is available 24/7 to help you with any issue, big or small.
Phone: (833) 303-0610
Email: [email protected]
The eXpert Care Desk is available 24/7 to help you with any issue, big or small.
Call or Text: (833) 303-0610
Email: [email protected]
