For a house priced under 100K... I suggest 500
100-150K I suggest $1000
150-200 I go with 1500
Your earnest money is refundable 100% if you terminate during the option period. It is also 100% refundable if you are not qualified for a loan and are still within your contingency period.
So, if you are making a lowww offer, and feel that your financing is strong, I would recommend that you put extra money down for earnest money to make your offer stand out.
You can also put $1000 earnest money at the time of the contract execution and put an additional 1000 when the house passes inspection. It's all negotiable as Carlos says.
Attend my monthly 1st Time Home Buyer Workshop.