There are many things you should be aware of as a buyer. Here are the first two things I would like to share with you.
The deposit shows the seller you are a serious buyer. This can be any amount you choose and your REALTOR can help you decide how much you should give as a deposit. This money is paid once your offer has been accepted and sometime you may even increase the deposit amount once subjects are removed or paid only when you remove your subject clauses. This money is held in trust and forms part of your downpayment.
This is paid upon closing and is a minimum of 5% of the purchase price. Speak to your lawyer and he/she will give you all the totals you need to bring into their office on closing day. All monies need to be in form of a bank draft or certified check.