Is a deposit required for a Quit Claim Deed?

a quit claim deed is inappropriate for a purchase. when purchasing you always want a warranty deed, as you want assurances that the title to the property you're buying is clean.

as for a deposit, yes - an earnest money deposit is essential on all such deals. it tells a homeowner that the prospective buyer is serious about the transaction, and it binds the deal while the homeowner takes the home off the market, pending mortgage closing.