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- How do deposits work when youre buying a house? Hi, Im Jeff Chubb with REN Network. And today were here with Jason Bonarrigo of RMS Mortgage, talking about how a buyers deposit works, when it happens, and whats happening with that deposit throughout the transaction. - Jeff, you tell me? Im not quite sure actually. We get these questions all the time. I mean, in regards to when were bringing up financing and when Im talking to folks during the pre-approval when their offers accepted. Actually, in this case Id love to flip it back to you. - Deposits are definitely me. So essentially you have First off deposits are always negotiable. I think that thats the most important thing. - Sometimes they dont know that. - Well a lot of real estate agents dont even know this. Well the standard deposit is 5%. - 5% and 1000. - No. If youre putting down 3%, youre not gonna put 5% down in a deposit. - Cant have it. Or if its a VA loan, right. Good point. - Deposits are completely ne