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Case 1: There is a mutual release for one property between the buyer and seller, and a new agreement is being negotiated for the same property. In this case, deposite refund process is not that straightfoword and efficient. The simplest way is to apply the previous deposit in the new agreement.

• Step1, insert below clause into the mutual release:

The deposit shall be held by XYZ Brokerage and shall be applied to serve to the deposit requirement for the Agreement of Purchase and Sales for the subject property between Seller and Buyer

• Step 2, insert the below clause in the new offer

The parties hereto acknowledge that the deposit currently held by XYZ brokerage which was paid on account of a previously accepted agreement between Seller and Buyer shall be applied to serve the deposit requirement for this Agreement of Purchase and Sales.