How do you pay your deposit (resale) once the offer is accepted?

[MicheyMouse]

Planning ahead - do they take the 10% down via credit card (with fee?) or do they usually require a wire transfer? This would be for a Florida resale purchase.

 

[eticketplease]

Planning ahead - do they take the 10% down via credit card (with fee?) or do they usually require a wire transfer? This would be for a Florida resale purchase.

This would depend on the title company doing the escrow. Some have you mail funds, others allow a credit card and some have you wire it.

You are allowed to pick your own title company and not just the one that the broker states.
There are many posts about experiences with the different companies out there.

 

[AstroBlasters]

Planning ahead - do they take the 10% down via credit card (with fee?) or do they usually require a wire transfer? This would be for a Florida resale purchase.

I’ve always put the max down with credit card to get points…. even if it’s more than 10%.

 

[cruisehopeful]

It depends on the closing company. You can specify if you want a certain one. I tried buying through DVC resale market and they said I could put $2k on a credit card for deposit. Disney took the contract. The next place I bought from used Mason title and they said I could put $7500. down with a credit card, which is what I did. They also would have accepted a wire transfer and as low as $1k for a deposit. I wanted to max out my credit card points.

 

[Best Aunt]

If you are using https://www.masontitle.com/, you can put up to $7,500 on a credit card with no fee. They charge a 3% fee on any amount you put on a credit card over $7,500.

The $7,500 includes the amount you want to charge for the deposit plus the amount you want to charge which is due for closing.

I think some companies might have (or have had) a rule where you could put the deposit on a credit card, but the amount due at closing had to be by bank check or wire transfer. For https://www.masontitle.com/ that is not the case at this time.

Maybe it goes without saying, but if you are contemplating putting more than $7,500 on a credit card, you would want to compare the 3% fee versus:
a) what your bank would charge for a wire transfer,
or
b) what your bank would charge you for a bank check plus what you would pay USPS/FedEx if you wanted to send that check via overnight service.