Home Buying in 92069>Question Details

kherrera547, Home Buyer in Washington, DC

how much is for a deposit of a house of $280,000?

Asked by kherrera547, Washington, DC Thu May 9, 2013

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6
Susan Taylor and Dolores Beddow’s answer
We have found in San Diego that 1-3% is customary and usually 1% is fine, unless the property is a lower priced property and then 2%. Called EMD earnest money deposit which is held by escrow. Remember that the deposit amount can be countered by the seller when the offer is received. Hope that helps. In real estate every situation is unique.
0 votes Thank Flag Link Tue Jan 28, 2014
Rule of Thumb 1-3% of the offer price. The more you put down, the perception can be the more serious you are. How much were you thinking?


BeachBrokerBill
DRE # 01775528
1 vote Thank Flag Link Thu May 9, 2013
When making an offer on a house it is customary to make a "Good Faith Deposit" There is no set amount as to what that amount needs to be. Consider this, say you are selling a house and you get to very similar offers. The big difference is that one has a GFD of $20 and another has a GFD of $10,000 all other things being equal, which would you accept?
So the answer to your question is what ever the seller will except.
0 votes Thank Flag Link Fri May 10, 2013
Congratulations what a great time to relocate and buy a home!!! One % of the offer price on a home offer is considered common. These monies are held by escrow through the closing process once your offer is accepted. Let me know how else we might be able to help, excited for you!!

http://peterwhittet.andrewarroyorealestate.com/
0 votes Thank Flag Link Fri May 10, 2013
You buuer's agent shoul be the one to guide you ---but yes -2-3% down is quite common.
0 votes Thank Flag Link Thu May 9, 2013
What does your Agent recommend?
Surely you are not thinking of buying from 3,000 miles away without using a Buyer's Agent?
0 votes Thank Flag Link Thu May 9, 2013
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