Terms of Use
Danny Macedo, REALTOR®
Please read these terms and conditions carefully before using this site. This site is provided by Danny Macedo, REALTOR®, Royal LePage Supreme Realty, Brokerage ("we", "us" or "our"). By using this site, you agree to be bound by the terms set out below. If you do not agree with these terms, please do not use this site.
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By accessing or using this site (the "Site"), located at www.macedorealestategroup.com, you agree to the terms of this Agreement, which constitutes the entire agreement between you and us regarding your use of the Site and its content. We may amend this Agreement from time to time. The current version will always be posted on the Site, and your continued use of the Site after any change constitutes acceptance of the revised terms.
Real Estate Regulatory Notice
This Site is operated in connection with real estate services provided in Ontario by Danny Macedo, REALTOR®, a registrant with the Real Estate Council of Ontario (RECO), operating under Royal LePage Supreme Realty, Brokerage. All real estate services referenced on this Site are provided in accordance with the Trust in Real Estate Services Act, 2002 (TRESA) and the regulations and code of ethics administered by RECO. Nothing on this Site should be taken as a substitute for representation agreements or disclosures required under TRESA.
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By submitting your contact details through this Site, you consent to being contacted by Danny Macedo, REALTOR®, by telephone, text message or email regarding your enquiry, in accordance with Canada's Anti-Spam Legislation (CASL). Where consent is required under CASL for commercial electronic messages, we will obtain it before sending such messages. You may withdraw your consent at any time by using the unsubscribe link in any email, by replying "STOP" to any text message, or by contacting us directly at [email protected]. Standard message and data rates may apply. Submitting your details is never a condition of buying or selling any property, or of purchasing any goods or services.
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This Site collects personal information through its contact and enquiry forms, including at minimum names, telephone numbers and email addresses. That information is collected, used and disclosed in accordance with the Personal Information Protection and Electronic Documents Act (PIPEDA). Because the Site actively collects personal information, a standalone Privacy Policy is required, and should be linked from this page and from every form on the Site, disclosing what is collected, why, who it may be shared with, how long it is retained, and how a visitor can access, correct or request deletion of their information. That Privacy Policy has not yet been drafted and should be treated as an outstanding item before any form on the Site goes live or continues collecting data.
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This Agreement is governed by the laws of the Province of Ontario and the federal laws of Canada applicable in Ontario, without regard to conflict of law principles. Any dispute arising from this Agreement or your use of the Site shall be subject to the exclusive jurisdiction of the courts of Ontario.
Contact and General
This Site is operated by Danny Macedo, REALTOR®, Royal LePage Supreme Realty, Brokerage, 110 Weston Road, Toronto, Ontario, M6N 0A6. You may contact us at [email protected]. If any provision of this Agreement is found to be unenforceable, the remaining provisions will continue in full force.
Last updated: September 10th, 2026
Royal LePage® Supreme Realty, Brokerage
110 Weston Road
Toronto, ON M6N 0A6
Call 416-535-8000
Text 647-931-5151
Copyright 2026. Macedo Real Estate Group, Danny Macedo, Sales Representative, Anthony Rocco Macedo, Sales Representative, Royal LePage Supreme Realty, Brokerage all rights reserved assumes no responsibility for the accuracy of any information shown. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.
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The Deposit Clock: What Happens in the First 24 Hours After Your Offer Is Accepted
Nobody celebrates for very long.
The offer gets accepted, there is about ninety seconds of relief, and then somebody in the room asks the question that actually matters. When is the money due, and where is it coming from?
This is the part of buying a home that almost nobody explains in advance, and it is the part that produces the most avoidable panic. So here it is in advance.
What the agreement usually says
The standard Ontario Real Estate Association agreement of purchase and sale, the form used in most residential transactions in this province, generally requires the deposit to be delivered within 24 hours of the offer being accepted, unless the agreement itself specifies something different.
Three details inside that sentence cause all the trouble.
It says 24 hours, not one business day. If your offer is accepted at eleven o'clock on a Saturday morning, the deposit is due by eleven o'clock on Sunday morning. Banks are shut. That is not a loophole, that is the clock.
Time is of the essence. That phrase appears in the agreement and it means what it sounds like. Deadlines are not approximate. A seller has remedies if the deposit is late, and in the worst case that can include treating the agreement as at an end.
The form of payment is restricted. A deposit is normally delivered by bank draft or certified cheque to the listing brokerage's trust account. An electronic transfer from your phone at midnight is not the same thing, and a personal cheque is usually not accepted.
An illustrative example
The following is an illustrative example. It is not a real client, and it is included only to show how the sequence plays out.
A couple see a house on the Thursday. They love it. Their agent tells them offers are being reviewed on the Saturday. They spend Friday getting their financing lined up, which is the right instinct, and Saturday afternoon their offer is accepted at 4pm.
Their deposit is due by 4pm Sunday. Their money is sitting in a savings account at a branch that opens Monday at half past nine. They spend Saturday evening on hold with a call centre, Sunday morning driving to an airport branch, and the entire first day of owning their new home in a state of quiet terror.
Nothing went wrong in the end. But nothing needed to be that unpleasant either, and every part of it was foreseeable on the Thursday.
The four things that prevent it
None of these are clever. They are just done in advance rather than afterwards.
- Move the deposit money before you write the offer. Not when you find the house. Before. It should be sitting in a chequing account at a branch you can physically walk into, in the name of the person who will sign the agreement.
- Find out your branch's hours, including Saturday. Write them down. Some branches open Saturday morning and some do not, and you want to know which yours is before you need to know.
- Ask your agent to negotiate the deposit timing into the offer. The 24 hour default is not compulsory. An agreement can specify a different deadline, for example by six o'clock on the following Monday. If your offer is going in on a Friday or Saturday, this is worth raising before the offer is submitted, not after.
- Confirm where the draft is going. The listing brokerage's name, the trust account, and who to hand it to. Get that in writing from your agent when the offer is accepted, not while you are standing at a teller.
Two questions worth asking your agent before you write anything
Ask both. The answers tell you a great deal about how the rest of the transaction will be handled.
- What deposit amount will make my offer credible in this specific competition, and what is that based on?
- If we are accepted late on a Friday or a Saturday, what exactly is the plan for delivering the deposit?
An agent who has thought about this will answer the second one immediately. An agent who has not will tell you it usually works out.
It usually does work out. That is not the same as it being handled.
One thing to keep in perspective
Your deposit is not an extra cost. It forms part of your down payment and is credited to you on closing. What it buys you in the meantime is credibility, because it is the clearest signal a buyer can send that they intend to complete.
Which is exactly why being unable to produce it on time is such an expensive way to start.
Before you write your first offer
If you are close to buying and you have not yet worked out where your deposit is sitting or how quickly you can reach it, text me at 647-931-5151. It is a ten minute conversation and it removes the single most common source of panic in the first week.
Danny Macedo, Macedo Real Estate Group, Royal LePage Supreme Realty, Brokerage. Selling in Toronto and York Region since 1996.
This article is general information about how residential transactions are commonly structured in Ontario. It is not legal advice, and the terms of your own agreement of purchase and sale always take precedence. Ask your lawyer or your agent about your specific contract.
