What must a seller be informed of before accepting an offer that includes an unconventional deposit?

The correct answer is that a seller must be informed that the deposit is in a form other than cash. This is important because unconventional deposits can take various forms, such as personal checks, promissory notes, or other assets, and may raise concerns regarding the security and liquidity of the deposit. The seller needs to understand what type of deposit they are agreeing to in order to assess the risk involved.

Being informed of the form of the deposit allows the seller to make an educated decision about whether to accept the offer, as certain deposit forms may not be as readily acceptable or easily convertible to cash compared to a traditional cash deposit. This knowledge ensures that the seller can properly evaluate the offer and consider any potential delays or complications that could arise from relying on a non-cash deposit.

Understanding the nature and risks associated with unconventional deposits is crucial in a real estate transaction, as it directly impacts the seller's financial security and the overall dynamics of the sale.